Connect with us

Top News

France promised billions to keep Europe in the aerospace race

Published

on

A Southwest Airlines flight takes off as United Airlines planes sit parked on a runway at Denver International Airport as the coronavirus pandemic slows air travel on April 22, 2020 in Denver, Colorado. Compared to the same time last year, Denver International Airport is operating 1,000 fewer flights daily. (Photo by Michael Ciaglo/Getty Images)
The package will secure 100,000 jobs over the next six months, French Economy Minister Bruno Le Maire said Tuesday. It will also help French companies keep up with aircraft manufacturers such as Boeing America and COMAC China.

“We will not allow the global aeronautical market to be shared between China and the United States. France and Europe will also be there,” Le Maire said.

The € 15 billion ($ 16.9 billion) package includes € 7 billion ($ 7.9 billion) in 2007 support for Air France that the government has previously announced. Le Maire said that airlines would be allowed to delay loan payments by one year, helping save jobs at aircraft factories Airbus (EADSF) and Dassault (DASTF) and aerospace component suppliers Safran (SAFRF) and Thalès.

About € 1.5 billion ($ 1.7 billion) will be allocated for research and development with the aim of producing carbon neutral aircraft by 2035. “France can become a European country where future planes will be designed and produced,” Le Maire added.

The coronavirus crisis has wiped out global airlines and is now spreading to companies that make parts and systems power their aircraft. Consumer demand for flights was suppressed during the pandemic by travel bans and closures, and it was expected not to fully recover for several years after the lock was lifted.

The global aviation industry will lose $ 84 billion in 2020 and an additional $ 15 billion in 2021, according to estimates from the International Air Transport Association on Tuesday. Industry groups say that demand for air cargo and travel will increase sharply next year, but passenger travel will still be almost 30% lower than 2019.

Throughout Europe, governments are stepping in to support airlines. Air France (EVERY) given a bailout in April, meanwhile Lufthansa (DLAKF) completed the € 9 billion ($ 9.8 billion) bailout rescue package from the German government in May. Companies are encouraged to make their operations more environmentally friendly.
US airlines also benefit from government bailouts worth about $ 50 billion.

Global competition

Airbus is in the heart of the European aviation industry. Based in France but with Production facilities in Germany, Spain and the United Kingdom, compete with Boeing to supply aircraft to airlines throughout the world.

See also  Portugal wins European Space Agency competition - Human Resources

The company obtained a credit facility of € 15 billion ($ 16.9 billion) in March to help strengthen its position when the pandemic swept across Europe. The French government said on Tuesday that it would submit pending military orders for refueling tankers and helicopters.

Airbus also benefits from assistance provided to Air France, one of its biggest customers.

“The plan announced by France is solid and the right response to the challenge,” CEO Guillaume Faury said on Twitter. “This will help us soften the blow in the short term, while maintaining our ability to recover when the time comes. At Airbus, in the face of this crisis, we do everything we can to protect our business & industry.”

Boeing (BA), which had staggered off the MAX 737 runway before the pandemic arrived, so far it has avoided the US government bailout by raising $ 25 billion through bond deals.

COMAC China is trying to break the duopoly enjoyed by Airbus and Boeing, but its C919 single aisle plane has fallen far behind schedule and may be years before the company manufactures aircraft capable of challenging rivals.

– Hanna Ziady and Eoin McSweeney contributed reporting.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top News

PRR. Banco do Fomento invites companies to offer new financial instruments – Observer

Published

on

PRR.  Banco do Fomento invites companies to offer new financial instruments – Observer

Banco Português de Fomento started a public consultation this Friday aiming to receive contributions to launch new instruments under the Recovery and Resilience Plan (PRR) which still has 475 million euros.

In a statement, the organization stressed that it intends to invite companies and all stakeholders to participate in public consultations on “future capital and quasi-capital decisions.”

According to PRR, Banco Português de Fomento (BPF) has been cast in “structuring and distribution of capital decisions and quasi-equity capital of a total of €1,425 million under the Capitalization and Business Innovation component of the PRR.

The Belarusian Popular Front still has 475 million euros to launch new programs, the organization’s press release emphasizes.

The public consultation is aimed at soliciting contributions under “the terms of two pre-structured financial instruments designed to encourage company formation and/or capitalization of businesses, primarily in the start-up phases”, “Venture Capital Program” (an instrument that assumes a fund structure of funds)” and “The Deal Co-investment Program (an instrument that takes the form of direct investment in companies, always in co-investment with private investors)”.

THE PUB • CONTINUE TO READ BELOW

“These tool proposals are aimed at facilitating market entry and growth/expansion of viable companies through the development new products/services or markets and strengthening and professionalization of personnel, including the management team,” the BNF press release further emphasizes.

The public consultation is also aimed at obtaining “other proposals for new capital and quasi-capital solutions in accordance with the terms of the aforementioned capitalization funds, which are considered relevant and necessary because they are considered unavailable at the time, or existing conditions that prevent access and use.”

See also  The Portuguese player who stole the CR7 stage in the Cup is married to the first girl he met in high school

Ana Carvalho, CEO of BPF, emphasized that these public consultations “are aimed at building an open dialogue with all actors of the business ecosystem, with to improve workflows and identify market failuresand the most appropriate solutions to overcome them.”

“Although we are actively in contact with various associations and institutions, this public comment allows all interested parties to participate, especially potential beneficiaries and partners involved in these measures,” he added, quoted in a press release.

All information and technical descriptions of the two pre-structured products are available on the Banco Português de Fomento website at the link https://www.bpfomento.pt/pt/consulta-publica-sobre-novos-instrumentos-financeiros-prr/.

Suggestions or offers must be submitted online for a thorough assessment by the Belarusian Popular Front until 18:00 on December 19, this body further explained.

The mission of Banco Português de Fomento is to support the economic and social development of Portugal by creating and providing innovative, competitive and appropriate solutions to the needs and challenges of the business ecosystem, enhancing entrepreneurial potential, investment and job creation, and promoting sustainability and economic, social and territorial cohesion of the country.

Continue Reading

Top News

FESTin returns to distribute Portuguese-language cinema worldwide | Cinema

Published

on

FESTin returns to distribute Portuguese-language cinema worldwide |  Cinema

For the 13th edition, FESTin’s mission remains the same: “Bring cinema in Portuguese to the whole world.” So says co-director Adriana Niemeyer by phone with PÚBLICO on the eve of the start of the film festival, which starts this Friday and runs until next week, ending on Wednesday the 14th at LX Factory at 7:00 pm, in Espaço Talante, inside the bookstore Ler Devagar , with a screening of four Brazilian short films chosen by Antonio Grassi, the actor in charge of the space, followed by a toast.

Continue Reading

Top News

VARIOUS. Portuguese project that wears a shirt for mental health

Published

on

VARIOUS.  Portuguese project that wears a shirt for mental health

Little phrases with big meaning sometimes fit into T-shirtright now in bag da Ivory, a project that began in the year of the pandemic and has been interventionally warning about mental health issues ever since.

Francisco Soares Ganzo, the founder, first suffered a panic attack when he was in 10th grade, but ended up not paying much attention to signs that something was wrong. Then the mental health problem reappeared later, at a different stage in life and with different symptoms.

“Four years ago, I started experiencing constant anxiety, to the point that I couldn’t sleep,” says 25-year-old Francisco Versa. “Basically, I put a lot of pressure on myself from the women with whom I had relationships. It was Wednesday masculinity, competition,” he continues.

Early adulthood began with this “almost obsession to be with women” and get the best. performanceto the point where he became very anxious whenever he had sexual relations with a woman.

“The peak was when I couldn’t sleep. My brain was always on and I started taking pills to help me sleep,” says Francisco.

In 2019, he decided to see a therapist rather than a psychologist because he thought it was only “for wimps”, but it wasn’t, and Francisco later figured it out.

Today, he wants to convey the same message, and to do so, he created the Ivory project in 2020, consisting of clothes and accessories with special messages that form a bridge to the necessary incentive for those in need of help.

“When I finally worked up the courage to ask for help, I was like, ‘Wow, I wish I had started sooner. That’s why I started this project. I lacked something that would motivate me to go to therapy earlier. clothes are meant to spread information,” he says.

But Ivory goes far beyond what is written in sweatshirts and accessories.

See also  For night shift workers, curfews can be expensive

Help that comes in order

“Everyone you know is fighting a battle you know nothing about.”

This is one of the messages recorded in t-shirts e sweats from ivory. It’s simple and affects everyone in their own way, but the focus of the Ivory team – also with a past or present marked by mental health issues – is not the phrases on the T-shirts, but what follows them.

“To say that mental health is talked about a lot is a lie. What I mean? When I hear the news that companies are very concerned about mental health or that it has become fashionable with COVID-19, it is all a lie. What people say is vague. Nobody tells stories. A person who is really bad, like I was, does not need to hear that he should go to the gym or eat well. He needs to hear a story like this.” .

Ivory’s next step is to create a space for sharing testimonies through Appendixjust to address this shortcoming. Until then, the project intends to function as anxiety And further to support in the field of mental health.

“For every order we have, a person receives Email mail to make an appointment. Because our goal is to really open doors, to do something that I didn’t have, ”says Francisco. “I feel like a lot of people buy ivory because they’re in bad condition, but they don’t want to take the next step to take care of themselves.”

If encouragement is not enough, an ivory sweater will be cozy and Email mail gives you the push you need to make an appointment with one of Ivory’s psychologists. All it takes is an Instagram post or an email.

See also  Heinz released the 'Creamz' kit to turn herbs into ice cream

Sweaters and bags 100% organic cotton and mobile phone cases with phrases coined by Francisco Soares Ganzo and designs created by the whole team can be ordered at website.

Continue Reading

Trending