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Debt, not market, drove plane maker to bankruptcy

Posted May 8, 2012 by by Joshua Freed and Roxana Hegeman

Economic turbulence has shrunk the market for business jets, and it’s causing an especially bumpy ride for Hawker Beechcraft. The Wichita, Kansas,-based aircraft maker filed for bankruptcy protection this week, seeking approval for a plan that would write an estimated $2.5 billion in debt off its books and eliminate almost $125 million in annual cash…

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Boeing, EVA Air announce order for three 777s

Posted May 8, 2012 by

Boeing and Taipei-based EVA Air May 8 finalized an order for three 777-300ERs (Extended Range) airplanes. The order also includes purchase rights for an additional four airplanes. “The 777-300ER is the flagship of our long-haul fleet and will play an important role in growing our global operations,” said Chang Kuo-wei, president of EVA Air. “The…

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Lockheed Martin completes delivery of 17 CC-130J Super Hercules aircraft to Canada

Posted May 8, 2012 by

The Royal Canadian Air Force formally accepted the 17th Lockheed Martin CC-130J Super Hercules in ceremonies in Marietta, Ga., May 8, completing the order placed in December 2007. The aircraft will be flown to Canadian Forces Base Trenton later this week. The original contract called for all 17 aircraft to be delivered by the end…

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Etihad cancels seven Airbus A350 orders

Posted May 8, 2012 by

Airbus says fast-growing Abu Dhabi-based airline Etihad Airways has canceled another seven orders for its A350-1000 wide-body long-range jet. Spokeswoman Aude Lebas said the April cancellation follows a similar decision in December not to go through with orders for six of the same jets. Etihad still has orders for 12 of the aircraft, a rival…

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Nation’s third Littoral Combat Ship successfully completes acceptance trials

Posted May 8, 2012 by

The nation’s third Littoral Combat Ship, USS Fort Worth (LCS 3), successfully completed its U.S. Navy acceptance trials and will be...

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Lockheed Martin’s DAGR successfully engages moving target in Apache demonstration

Posted May 8, 2012 by

Lockheed Martin’s Direct Attack Guided Rocket successfully tracked and engaged a moving target in a recent demonstration at Yuma Proving Ground, Ariz. “DAGR hit a moving taret from 3.5 kilometers,” said Hady Mourad, DAGR program director in Lockheed Martin’s Missiles and Fire Control business. “Defeating high-value targets on the move is a critical capability, and…

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Raytheon fires Excalibur from G6 self-propelled howitzer

Posted May 8, 2012 by

TUCSON, Ariz. – Raytheon has fired four Excalibur 155mm precision-guided artillery projectiles from the Denel-manufactured G6 self-propelled howitzer as part of a field trial demonstration. Multiple rounds of the combat-proven Excalibur successfully fired from the G6 155mm wheeled howitzer out to a range of 38 kilometers (23.6 statute miles), with all rounds landing within 5…

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F-35 Lightning II flight test update

Posted May 8, 2012 by

Lockheed Martin’s F-35 Lightning II flight test program continues to make progress during the first four months of 2012. In March, the program completed 123 test flights totaling 223 flight hours, setting a record for the most System Development and Demonstration flights and flight hours for a single month. During the time period, the SDD…

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Northrop Grumman releases 2011 corporate responsibility report

Posted May 8, 2012 by

Northrop Grumman has released its 2011 Corporate Responsibility Report, a comprehensive publication that highlights the company’s ongoing commitment to corporate responsibility, including environment sustainability, support for science, technology, engineering and mathematics education, community service, corporate philanthropy and employee volunteerism, among other activities. It is the fifth year the company has published this report. “At Northrop…

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ULA employees ratify contract

Posted May 7, 2012 by

United Launch Alliance was notified May 6 that the International Association of Machinists and Aerospace Workers representing its workforce at Cape Canaveral Air Force Station, Fla., Decatur, Ala., and Vandenberg Air Force Base, Calif., has accepted the company’s new three-year contract offer. This concludes the 2012 contract negotiation process which began several weeks ago. The…

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