Indonesia-based aircraft maintenance firm PT Garuda Maintenance Facility Aero Asia Tbk has revealed plans to raise gross proceeds of IDR785.47bn ($59.07m) through the private placement of 2.34 billion shares.

The shares to be issued as part of the placement are priced at IDR336 ($0.025) each.

The proceeds are intended to be used by the company for capital expenditure and investment purposes.

“Airbus will be responsible for the development, deployment and operation of the EGNOS V3, under the 6.5-year contract.”

Airbus has been selected as the prime contractor by the European Space Agency (ESA) for the development of the European Geostationary Navigation Overlay Service (EGNOS V3) satellite-based augmentation system (SBAS).

Airbus will be responsible for the development, deployment and operation of the EGNOS V3, under the 6.5-year contract.

ESA intends to use the proposed system for the enhancement of accuracy, and availability of navigation services from Galileo and GPS.

Boeing has entered a multi-year deal with Daher for the supply of thermoplastic composite structural parts required for the construction of Boeing 787.

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Daher will be responsible for the delivery and installation of structural parts on the Boeing 787 jet airliner.

Lufthansa Technik and Pepperl+Fuchs have signed a strategic agreement for the formation of a new joint venture (JV) named 3D.aero.

The JV will focus on developing research-based automation solutions for the aviation industry.

Both the JV partners are based in Germany.