According to Airbus’ 2018-2037 Global Market Forecast, China will need more than 7,400 new aircraft in the next 20 years

China will need over 7,400 new passenger aircraft and freighters from 2018 to 2037, with a total market value of US $1,060 billion, according to Airbus’ latest China Market Forecast. It represents more than 19 percent of the world total demand for over 37,400 new aircraft in the next 20 years. According to Airbus’ 2018-2037…

ALERT Icelandair to buy low-cost rival WOW Air

Icelandair Group has entered into a share purchase agreement to purchase all shares in the airline WOW air. Beleaguered budget airline WOW Air has been completely bought out by Icelandair Group, Viðskiptablaðið reports. The board of Icelandair Group bought every share in WOW Air, in full conjunction and cooperation with the Icelandic Competition Authority. The acquisition is…

ALERT US Department of Justice claims Chinese intelligence hacked private companies’ systems to steal information on a turbo fan engine

Chinese intelligence officers conspired with hackers and company insiders to break into private companies’ computer systems and steal information on a turbo fan engine used in commercial jetliners, according to a U.S. indictment unsealed on Tuesday. The indictment said at the time of the hacks, a Chinese-state owned aerospace company was working to develop a…