Aviation News Releases - Wednesday, June 30, 2010

Boeing Announces Agreement to Acquire Argon ST
Acquisition advances Boeing's strategy for growth in C4ISR, cyber and intelligence markets Combined business will offer affordable, network-based capabilities to meet the mission-critical needs of Boeing's domestic and international customers...
Jun-30 - 2010 | More ->
FAA Proposes Changes To Icing Standards
By Frances Fiorino Manufacturers of transport aircraft would be required to demonstrate that an aircraft certified to operate in icing conditions could safely operate in a “supercooled large drops”...
Jun-30 - 2010 | More ->
Spain Curtails P-3 Upgrade
By Robert Wall LONDON — The Spanish air force is reducing its P-3 upgrade program to four aircraft, having previously planned to install the EADS CASA Fully Integrated Tactical System (FITS) on...
Jun-30 - 2010 | More ->
Sukhoi T-50 Prototype Demonstrated For Putin
By David A. Fulghum, Douglas BarrieWashington, London In a high-profile visit to view what is Russia’s first “low-observable” aircraft, Prime Minister Vladimir Putin watched the prototype Sukhoi T-50 being...
Jun-30 - 2010 | More ->
Ariane 5 Launches Korean Satellite
By Michael A. Taverna PARIS — Arianespace has successfully orbited South Korea’s COMS-1 and Arabsat 5A, putting its launch manifest back on track. The Ariane 5 ECA launch, which had been set...
Jun-30 - 2010 | More ->
Jazz Air, Flight Attendants' Union Agree Deal
Canada's Jazz Air said it reached a tentative contract agreement with its flight attendants, represented by the Canadian Flight Attendants Union (CFAU) ...
Jun-30 - 2010 | More ->
Thai Airport Revenue On Target Despite Unrest
Airports of Thailand, the country's main airport operator, said on Wednesday its revenue for fiscal 2009/2010 would rise 10 percent to THB22 billion baht (USD$679.2 million), in line with its target ...
Jun-30 - 2010 | More ->
Porter Aviation Close To New Funding
Porter Aviation, an upstart regional challenger to Canada's major airlines, is close to completing another form of financing after it shelved an initial public stock offering earlier this month due to market volatility, it's chief executive said...
Jun-30 - 2010 | More ->
Virgin Blue To Integrate Long-Haul Airline
Australia's second-largest airline Virgin Blue plans to shake up its management structure as it seeks to double its share of the domestic business-class market and take on dominant player Qantas ...
Jun-30 - 2010 | More ->
Airbus, Boeing Trade Blows Ahead Of Subsidy Ruling
Planemakers Airbus and Boeing exchanged transatlantic taunts on Tuesday in advance of a WTO ruling expected to accuse the European planemaker of receiving unfair state subsidies ...
Jun-30 - 2010 | More ->
Ferrovial Studies Options For BAA Refinancing
Spanish infrastructure group Ferrovial is looking at ways to refinance EUR€1.56 billion of debt maturing at its BAA airports unit in 2011, its chief executive said on Tuesday ...
Jun-30 - 2010 | More ->
Passengers Sue To Block UAL/CAL Merger
The proposed merger of United Airlines and Continental Airlines would lessen competition and lead to higher fares, according to a lawsuit filed on Tuesday by a group of customers seeking to block the deal ...
Jun-30 - 2010 | More ->
Ryanair To Cut UK Winter Capacity
Irish airline Ryanair said it would cut UK winter capacity by 16 percent from November, blaming the UK government's Air Passenger Duty (APD), adding that the move would lower its costs and boost profits ...
Jun-30 - 2010 | More ->
Iberia Signs EUR€8 Bln British Airways Merger Deal
Iberia said on Tuesday it had signed an EUR€8 billion (USD$9.8 billion) merger deal with British Airways to create the world's third biggest airline after reaching an agreement over BA's pension deficit ...
Jun-30 - 2010 | More ->
Next International Space Station Residents Hold News Conference
HOUSTON -- The next trio of International Space Station residents will hold a news conference at 1 p.m. CDT on Tuesday, July 13, at NASA's Johnson Space Center in Houston. The news conference will be broadcast live on NASA Television and the...
Jun-30 - 2010 | More ->
Moderate Dems Want Defense Spending Scrutiny
By Michael Bruno Moderate Democrats on Capitol Hill are increasingly eyeing the Pentagon’s budget for spending reductions or savings starting next year, in a move that further splinters support for such...
Jun-30 - 2010 | More ->
House To Postpone FAA Reauthorization
By Adrian Schofield adrian_schofield@aviationweek.comWASHINGTON House lawmakers are proposing yet another short-term extension of the FAA’s operating authority, as time runs out for lawmakers to negotiate...
Jun-30 - 2010 | More ->
South Korean KSLV-1 Rocket Launch Scrubbed
By Frank Morring, Jr. South Korea’s space agency scrubbed its latest attempt to launch the KSLV-1 rocket June 9 when the launch-pad fire suppression system accidentally tripped, spraying about...
Jun-30 - 2010 | More ->
NASA Issues Broad Agency Announcement For Heavy Lift Studies
WASHINGTON -- NASA has issued a Broad Agency Announcement (BAA) seeking proposals and industry input on heavy-lift system concepts and propulsion technology.NASA is seeking an innovative path for human space exploration that strengthens its...
Jun-30 - 2010 | More ->
CEOs of Boeing, Xerox Pledge Support to Obama for Passage of Korea-US Free Trade Agreement
CHICAGO, June 29 /PRNewswire-FirstCall/ -- Jim McNerney, chairman, president and CEO of Boeing (NYSE: BA), and Ursula Burns, chairman and CEO of Xerox, issued the following statement regarding the Korea-U.S. Free Trade Agreement. President Obama...
Jun-30 - 2010 | More ->
Boeing Statement on Pentagon Acquisition and Procurement Initiative
WASHINGTON, June 29, 2010 -- Ashton Carter, U.S. Undersecretary of Defense for Acquisition, Technology and Logistics, announced June 28 that the Department of Defense is launching an initiative to reduce overhead costs by approximately $100...
Jun-30 - 2010 | More ->
Spirit AeroSystems Machinists Ratify Pact
By Jennifer Michels jennifer_michels@aviationweek.com The machinists at Spirit AeroSystems in Wichita ratified a 10-year contract by default when a strike vote by the International Association of...
Jun-30 - 2010 | More ->
Comments Closed On FAA Long Island Helicopter Rule
By Kerry LynchWASHINGTON FAA last week officially closed the comment period for a proposal to impose helicopter route restrictions over Long Island, N.Y., despite appeals from industry for a 60-day...
Jun-30 - 2010 | More ->
EMBRAER DELIVERS 20TH E-JET TO FRANCE’S REGIONAL
Air France subsidiary operates a 100% dedicated Embraer jet fleetSão José dos Campos, June 28, 2010 – Embraer achieved a significant milestone, today, with the delivery of the 20th E-Jet to Regional - Compagnie Aérienne Européenne, a wholly owned...
Jun-29 - 2010 | More ->
House Plans One-Month Extension For FAA
By Adrian Schofield House lawmakers are preparing for another short-term extension of the FAA’s operating authority, as time runs out for lawmakers to negotiate a long-term reauthorization bill. ...
Jun-29 - 2010 | More ->

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Wednesday, June 30, 2010 | Posted in commercial, industry | Read More »

Boeing Announces Agreement to Acquire Argon ST

Acquisition advances Boeing's strategy for growth in C4ISR, cyber and intelligence markets

Combined business will offer affordable, network-based capabilities to meet the mission-critical needs of Boeing's domestic and international customers

Combination creates robust synergy opportunities by leveraging Boeing's platform solutions with Argon ST's deep expertise

Acquisition expected to have an immaterial impact on earnings

ST. LOUIS, June 30, 2010 -- The Boeing Company [NYSE: BA] and Argon ST [NASDAQ: STST] today announced that they have entered into an agreement for Boeing's acquisition of Argon ST in an all cash tender offer and merger for $34.50 per share, or approximately $775 million, net of cash acquired.

The agreement to acquire Argon ST, a leading developer of command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) and combat systems, advances Boeing's growth strategy and expands the company's capabilities to address the C4ISR, cyber and intelligence markets.

"Combining the strength of Boeing with the experience of Argon ST will significantly accelerate our capabilities in sensors, communications technologies and information management," said Dennis Muilenburg, president and CEO of Boeing Defense, Space & Security. "Today's announcement follows two years of partnering with Argon ST's talented employees who, like Boeing employees, take pride in developing and deploying world-class engineering solutions for our customers."

Founded in 1997 and headquartered in Fairfax, Va., Argon ST develops sensors and networks designed to exploit, analyze and deliver information for real-time situational awareness. In fiscal 2009, the company generated $366 million in revenues. Argon ST has operating locations in Virginia, California, Michigan, Pennsylvania, Florida, Maryland and Texas, and has approximately 1,000 employees.

"We're very pleased to join The Boeing Company," said Terry Collins, chairman and chief executive officer of Argon ST. "Our employee teams know each other well, and we are excited to now continue our combined support to warfighters and first responders as one company."

Once acquired, Argon ST will be a stand-alone subsidiary of Boeing and a new division of Boeing Network & Space Systems, a business within the Boeing Defense, Space & Security operating unit. Argon ST will continue to be led by Collins and his management team, which will help ensure a seamless transition for employees and customers.

"As part of Boeing, Argon ST will continue to provide leading-edge network-based communications solutions for domestic and international customers including the U.S. Navy, the U.S. Air Force and the Department of Homeland Security so they can continue to execute their critical missions," said Roger Krone, president of Boeing Network & Space Systems. "We're confident that this combined team will be able to achieve great things together in the future."

The transaction is expected to close by the end of the third quarter 2010. The completion of the transaction is subject to a majority of the outstanding Argon ST shares being tendered, as well as satisfactory completion of other customary closing conditions, including U.S. regulatory approval.

The definitive agreement was unanimously approved by Argon ST's board of directors, and Argon ST's board intends to recommend that the company's stockholders tender their shares in the offer.

Boeing plans to fund the transaction with existing cash. The acquisition is expected to have an immaterial impact on Boeing's earnings.

Source: BOEING

Wednesday, June 30, 2010 | Posted in navy | Read More »

FAA Proposes Changes To Icing Standards

By Frances Fiorino

Manufacturers of transport aircraft would be required to demonstrate that an aircraft certified to operate in icing conditions could safely operate in a “supercooled large drops” environment under a new rule proposed June 29 by FAA expanding icing certification standards.

Powerplants and other aircraft components, such as angle-of-attack and airspeed indicators, also would be required ...