Denel and Saab,
which have got the go-ahead from South African competition authorities to form a new aerostructures company expected to generate turnover of around R200 million ($27 million). The new 80% Denel-owned company will be the first partnership to emerge from the South African company's restructuring process. Saab will run the new entity, which will carry out design, manufacturing and assembly work on civil and military programmes.
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Lufthansa
The airline's agreement to settle a civil lawsuit in the USA that alleges the airline and its subsidiary Swiss International Air Lines were involved in a cartel of world airlines fixing airfreight prices is costing it $85 million. The German carrier is not accepting liability as part of the settlement and says it has received conditional immunity from any further legal action from US and European Union authorities. |
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"It poses problems because we are in an industry of (national) sovereignty... on the European political scene, Russia has not yet joined Europe." Charles Edelstenne, chief executive of Dassault Aviation, on Russia's increased stake in EADS |  |
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Source: Flight International
