October 6, 2015
Scotiabank analyst Turan Quettawala is predicting that Bombardier will run out of cash by mid-2016, unless the manufacturer sells-off additional units or obtains additional deposits for its new C-Series transport. The government of Quebec has signaled that it is open to a financial aid package for the Canadian manufacturer, and there are also reports that Bombardier is seeking additional investors that might be interested in securing shares in each of its major business units.
Bombardier has announced that announced firm orders for ten CRJ regional jets with options for another six, in sales to two undisclosed customer. The CRJ is Bombardier's current production regional jet - a much smaller airplane than the C-Series now under development.
Airbus has revealed that a test engine in its new A320 NEO prototype suffered damage following hot weather tests in the Middle East. A replacement for the PW1100G engine was being rushed to the Airbus test facility. The remaining NEO prototypes - including two powered by the Pratt & Whitney Geared Turbofan(TM) and two powered by the competing CFM International LEAP-1A - continue to fly - suggesting that this latest mishap was not as severe as a prior event involving a Bombardier C-Series engine which grounded Bombardier's test fleet for months.
Analysts are warning that Boeing may lose an order with South Africa's Comair Ltd, due to its inability to secure affordable financing for the order. Previously, Boeing had relied on financing from the Export-Import Bank, which is underwritten by the U.S. government, to help finance large aircraft orders. Congress refused to renew federal support for the Export-Import Bank this past June, however, forcing Boeing to find private financing options with higher interest rates. The existing Comair order includes eight 737 MAX aircraft, plus an additional three pre-MAX airplanes.
Russia's Irkut has announced plans to aggressively market its new MC-21 aircraft to Iranian airlines, now that international sanctions are being lifted on Iran. The comment from officials at Irkut comes after an Iranian minister expressed an interest in developing programs with Russia for the assembly of commercial aircraft locally in Iran.