France promised billions to keep Europe in the aerospace race

Published

4 years ago

June 9, 2020

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.

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.

Goodwin Townsend

General internet buff. Hardcore music maven. Typical foodaholic. Friendly student.

Portuguese historical films will premiere on 29 December.

Published

1 year ago

December 20, 2022

Herb Adkins

Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets Ptix.bm For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

“Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

More about

#History of Bermuda #A photo #Portuguese

Model: Everybody, Entertainment, Movies/Movies, History, News

Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS ‘There will be room’

Published

1 year ago

December 20, 2022

Herb Adkins

CRISTANO RONALDO CAN MAKE UP A GIANT IN CARIOCA AND PORTUGUESE TECHNICIAN SAYS 'There will be room'

News

This is a fact or event of journalistic interest. This may be new or recent information. This also applies to the novelty of an already known situation.

Article

Mostly original text. Expresses the opinion of the author, but not necessarily the opinion of the newspaper. It can be written by journalists or specialists from different fields.

Investigative

A report that contains unknown facts or episodes with a pronounced denunciatory content. This requires special methods and resources.

Content commerce

Editorial content that offers the reader conditions for making purchases.

Analysis

This is the interpretation of the news, taking into account information that goes beyond the facts told. It uses data, brings events and scenario forecasts, as well as past contexts.

Editorial

Analytical text translating the official position of the vehicle in relation to the facts covered.

This is an institutional article on a topic of interest to the company sponsoring the report.

fact checking

Content that confirms the accuracy and authenticity of the disclosed information or facts.

Context

This is an article that brings subsidies, historical data and relevant information to help understand a fact or news.

special

An exciting report that details the various aspects and developments of this topic. It brings data, statistics, historical context, as well as stories of characters that are affected by or directly related to the topic in question.

Interview

A subject-specific approach in which the subject is presented in a question and answer format. Another way to publish interviews is through threads, where the interviewee’s answer is reproduced in quotation marks.

Criticism

A text with detailed analysis and opinions on products, services and works of art in a wide variety of fields such as literature, music, film and visual arts.

Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Published

1 year ago

December 19, 2022

Herb Adkins

Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

Herb Adkins

Proud web evangelist. Travel ninja. Creator. Freelance food nerd. Passionate bacon fanatic.