September’s top news stories

Lockheed secures $4.6bn Nasa contract for Orion spacecraft

Lockheed Martin secured a $4.6bn contract from the National Aeronautics and Space Administration (Nasa) to build at least six Orion spacecraft that will take astronauts to the Moon.

The space agency’s indefinite-delivery, indefinite-quantity (IDIQ) Orion production and operations contract (OPOC) includes a commitment to order a minimum of six and a maximum of 12 Orion spacecraft, with an ordering period through 30 September 2030.

The contract covers $2.7bn for the first three Orion spacecraft for Artemis missions III-V and an additional $1.9bn for another three in fiscal year 2022 for Artemis missions VI-VIII.

Air New Zealand orders eight Boeing 787-10 Dreamliner jets

Air New Zealand signed a contract to buy eight Boeing 787-10 Dreamliner jets worth $2.7bn at list prices.

The order finalisation followed after the carrier announced a commitment in May.

These new aircraft will be integrated into its fleet of 787-9 and 777 aircraft from 2022.

Delta to invest $1.9bn to acquire 20% stake in LATAM

US airline operator Delta signed a strategic partnership agreement with Chilean company LATAM Airlines Group.

Under the partnership, Delta will invest $1.9bn to acquire a 20% stake in LATAM. The investment will be carried out through a public tender offer, with each share priced at $16.

The transaction will be financed using newly issued debt and available cash.

Parker Hannifin acquires Exotic Metals Forming for $1.7bn

Parker Hannifin completed its previously announced acquisition of US-based Exotic Metals Forming Company in a deal valued at $1.725bn.

The latest deal adds high-temperature, high-pressure air and exhaust management solutions for performance-critical aircraft, as well as engine applications to Parker’s portfolio.

The transaction is also expected to be accretive to the company’s organic growth, EBITDA margin, EPS and cash flow.

DAE wins $1.4bn investment mandate from undisclosed investor

Middle Eastern aircraft leasing company Dubai Aerospace Enterprise (DAE) won a $1.4bn investment mandate from an unidentified investor.

Details about the investor remain undisclosed. However, DAE noted that the investor is one of the world’s largest fund managers.

Under the multi-year mandate, DAE will source the aircraft and its Aircraft Investor Services (AIS) unit will manage them.

KLM Royal Dutch Airlines orders two Boeing 777-300ER planes for $751m

Netherlands’ flag carrier airline KLM Royal Dutch ordered two additional Boeing 777-300ER aircraft for $751m.

The new order for the extended range airplanes is part of the airline’s commitment to expanding its current fleet.

With the latest order, KLM’s 777 fleet will increase to more than 30 aircraft.

Mitsubishi and Mesa Airlines sign MOU for 100 SpaceJet M100 aircraft

Mitsubishi Aircraft and US firm Mesa Airlines signed a memorandum of understanding (MOU) to initiate talks to acquire 100 SpaceJet M100 aircraft.

The agreement was signed by the parties at the Regional Airline Association (RAA) annual conference held this year in Nashville, Tennessee, US.

Mitsubishi Aircraft aims to achieve 50 firm orders and purchase rights for an additional 50.

UK vows to fly back stranded holidaymakers of collapsed Thomas Cook

UK Prime Minister Boris Johnson vowed to rescue thousands of holidaymakers stranded in different parts of the world due to the collapse of the world’s oldest UK travel company Thomas Cook.

According to the UK’s Civil Aviation Authority (CAA), over 70 flights were scheduled to fly back 16,000 Britons to the country.

Over 150 crew and more than a quarter of the total number of passengers had already been brought back, reported Reuters.