Lilium has revealed it has an additional US$119 million as a result of a share issue among the company’s existing investors as well as new participants. Partners involved in the issue include Honeywell and Aciturri, as well as LGT and its affiliated impact investor Lightrock, Tencent, and B. Riley Securities. Lilium’s new CEO, Klaus Roewe, and three additional board members, Barry Engle, David Wallerstein and Niklas Zennström, are also participating. Citigroup, B. Riley Securities and Piper Sandler are acting as placement agents for the offerings.
The offerings are expected to close on 22 November 2022. Lilium and its officers and directors have agreed to a lockup of 30 days, subject to customary exclusions.
Hindustan Aeronautics Ltd (HAI) has delivered the 16th ALH MkIII helicopter to the Indian Coast Guard (ICG). The aircraft is the last example in the ICG’s initial order.
eVTOL developer Vertical Aerospace Ltd has released its financial results for the third quarter ended 30 September 2022. The company has also issued a shareholder letter discussing its operating results and management commentary.
Bristow Group have reported a net income attributable to the Company of USD16.5 m, or USD0.58 per diluted share, for its fiscal second quarter ended September 30, 2022 on operating revenues of USD299.4m. This compares with the preceding quarter where the figures were USD4.0m, or USD0.14 per diluted share, on operating revenues of USD294.1m. The earnings before interest, taxes and depreciation and amortisation (EBITDA) were also improved compared with the previous quarter, USD42.7m vs USD39.0m respectively. However when special items like forex gains or losses are factored in the position is not as strong at USD33.9m in the Q2 versus USD37.1m in Q1. The company attributes the disparity to the impact of a weakening Norwegian Kroner and UK Pound against the US dollar during the period.
Boost Systems have been granted FAA approval. The company’s insulated suspension lines and flash rated harnesses are now FAA-approved when used with other manufacturers’ Bell 206L/407 and MD369 dual hook systems.
In the company’s autumn statement, Airbus has revealed that the Helicopters division has posted earnings before interest and taxes (EBIT) of €380 million for the calendar year to September – up by €9 million compared with the same period in 2021.
Kaman Air Vehicles have announced the receipt of a signed purchase agreement from North American Helicopter for a K-MAX®medium-to-heavy lift helicopter with delivery expected in the fourth quarter of 2022. “North American Helicopter has been a highly respected operator for more than 55 years and we appreciate the confidence they have placed in Kaman and the capabilities of the K-MAX®. Adding the proven external lift and precision capabilities of K-MAX® to North American Helicopter’s operations will enhance their operational services in support of the Electrical and Gas Utility sectors and the Department of Defense,” said Roger Wassmuth, Senior Director of Business Development.
Last Thursday, the first production example of the AW609 made its maiden flight Leonardo have revealed. The aircraft (designated AC5) has begun flying in support of the flight test programme joining one US based and two Italian prototypes and and will be used to explore and expand the type’s mission capabilities as the test programme draws to it’s conclusion.
Switlik Survival Products has announced that it has broken ground on a 20,000 sq ft (1860 m2) extension to its Trenton New Jersey manufacturing facility. The company says that the expansion will enable it to broaden its product offerings as well as diversify into new markets. “We’re thrilled to get moving on this project which will ultimately provide the residents of Trenton and Hamilton with new job opportunities and help those employed continue succeeding. For 102 years Switlik has been saving lives worldwide, providing jobs locally.” – Stanley Switlik II, CEO. “The expansion is pivotal for us” adds Sarah Switlik, COO “it allows us a lot of opportunity as we look towards the next generation at Switlik.”
