BAE NAMES KING AS NEW CHIEF EXECUTIVE
BAE Systems has named Ian King as its new chief executive, to replace Mike Turner from 1 September. Currently the company's chief operating officer for the UK and the rest of the world, excluding its North American business activities, King will continue BAE's strategy of expanding in its current six "home markets", plus additional target nations including India and Japan. The company has meanwhile completed the A$775 million ($745 million) acquisition of Tenix Defence, significantly increasing the size of BAE Systems Australia.
THIELERT OPERATORS TO PURSUE ENGINE MAKER IN COURT
A group of operators of Thielert-powered Diamond DA40s and DA42s says it will use the courts to force the insolvent German engine maker to honour warranties cancelled when it went into administration in April. The newly set up Thielert Engine Owners Group plans to file for creditor status in the company's insolvency hearings. "The only way Thielert engine owners will get relief is to band together and exert pressure as a group," says director Todd House. Thielert's insolvency administrator is negotiating with investors about a rescue for the company, which continues to trade.
UK LAUNCHES NEW OFFENSIVE UAV PROJECT
The UK Ministry of Defence has launched a new capability study into offensive unmanned air vehicle systems, and will hold an industry day for the deep persistent offensive capability work during September. The programme will use data from BAE Systems' Taranis unmanned combat air vehicle technology demonstrator programme and the Royal Air Force's recent trial of the company's Herti surveillance UAV in Afghanistan. "We are building up the team now," integrated project team commercial manager Daniel West said during last week's ParcAberporth UAV exhibition in west Wales.
BOEING STOCK PLUMMETS AFTER RATING CHANGE
Boeing shares lost 10% of their value in one week of trading, setting a two-year low as markets opened on 27 June. EADS stocks are approaching five-year lows and are down 14% over a two-week period. Both share prices felt the impact of a Goldman Sachs report that changed Boeing's rating from neutral to sell, citing concerns that the rising price of oil could prompt a wave of new orders cancellations from airlines. Boeing's share values plummeted at the worst time for workers, who are expecting to receive a stock-based bonus on the week of 30 June.
ILFC IN DISCUSSIONS ABOUT BIG NARROWBODY ORDER
International Lease Finance has indicated it is considering ordering 150 Airbus and Boeing narrowbodies at Farnborough. Chief operating officer John Plueger is reported to have said that the lessor is looking at the order to meet demand from airlines that cannot afford to buy aircraft amid tough market conditions. "A stressed marketplace provides us with a lot of opportunities, maybe buying some airplanes at reduced cost," he says.
INDONESIAN AIR FORCE C-212 GOES MISSING
An Indonesian air force Casa Nurtanio C-212 transport with 18 people on board went missing on 26 June in an area of mountainous jungle about 100km (55nm) south of Jakarta, according to service officials. The aircraft took off from Jakarta on a surveillance flight testing new mapping equipment. The air force says it will be difficult to find the aircraft in the region because of bad weather conditions, and concedes that it has almost certainly crashed. In January a C-212 freighter operated by regional airline Dirgantara Air Service crashed in Indonesia killing all three people on board.
Source: Flight International
