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Airbus and the Government of Québec Become Sole Owners of the A220 Programme as Bombardier Completes its Strategic Exit from Commercial Aviation

AMSTERDAM, Netherlands and MONTREAL, Feb. 13 (Korea Bizwire) — Airbus SE (EPA: AIR), the Government of Québec and Bombardier Inc. (TSX: BBD.B) have agreed upon a new ownership structure for the A220 programme, whereby Bombardier transferred its remaining shares in Airbus Canada Limited Partnership (Airbus Canada) to Airbus and the Government of Québec. The transaction [...]

Airbus’ Skytra Selects Nasdaq to Provide the Technology for its New Venue for Air Travel Price Derivatives

LONDON and NEW YORK, Jan. 23 (Korea Bizwire) – Airbus’ wholly owned subsidiary Skytra has selected Nasdaq (Nasdaq: NDAQ), architect and provider of the world’s most widely adopted financial market infrastructure technology, to provide the core technology for its derivatives trading venue. Headquartered in London, Skytra was recently established to help the $1 trillion per annum air travel [...]

Airbus’s Korean Business Operations to Grow 20 Percent by 2021

SEOUL, Oct. 17 (Korea Bizwire) – The day before Seoul ADEX 2017 (International Aerospace and Defense Exhibition), a face-to-face with media outlets held by Airbus representatives revealed that its South Korean business operations are expected to increase by $1 billion to a total $6 billion by 2021. The increase in scale is due to the [...]

Korean Air, Asiana Airlines Battle for New Aircraft

SEOUL, Feb. 24 (Korea Bizwire) – The latest business focus of two major South Korean airlines – Korean Air Lines and Asiana Airlines - has been on acquiring new aircraft models with better fuel efficiency and lower carbon emissions, a measure seen as crucial to their bottom line and ability to sustain growth in the [...]

KAI Inks MOU with Airbus Helicopters to Export Locally Built Choppers

SEJONG, Nov. 4 (Korea Bizwire) – South Korea’s largest aerospace company Korea Aerospace Industries Ltd. (KAI) said Wednesday that it inked a deal with Airbus Helicopters to sell locally made choppers abroad. The strategic partnership memorandum of understanding (MOU) reached in Seoul comes as the two companies concurred on the need to expand cooperation in [...]

Korean Air Inks 100 bln Won Deal with Airbus

SEOUL, Apr. 23 (Korea Bizwire) — South Korea’s top carrier Korean Air Line Co. said Thursday it has clinched an exclusive deal worth 100 billion won (US$92.33 million) with Airbus to supply aircraft parts for the European firm’s new jet airliner. With the latest contract, Korean Air will deliver sharklets, specialized winglets attached to the [...]

Progress Made on Light Copter Project: Arms Procurer

SEOUL, Apr. 15 (Korea Bizwire) — The state arms procurer said Wednesday it has agreed with the country’s largest aerospace company on technological terms in a next-generation light civilian and military chopper development project. In July 2014, the Korea Aerospace Industries Ltd. (KAI) was tapped as the primary negotiating partner to be in charge of [...]

Airbus to Join South Korea’s Fighter Jets Projects

SEOUL, Feb. 22 (Korea Bizwire) – South Korea’s top air carrier Korean Air Line Co. has signed a memorandum of understanding (MOU) with Europe’s Airbus to jointly bid for Seoul’s indigenous fighter development project, Korean Air officials said Sunday. Codenamed KF-X, the 8.5 trillion won (US$8.3 billion) project calls for South Korea to develop fighter jets [...]