The Federal Aviation Administration announced on Thursday that it had selected Peraton, owned by Veritas Capital and a national-security company, to be the project manager for a $12.5 billion effort to revamp the U.S. aging air traffic control system. After decades of complaining about airport congestion, technological failures, and flight delays, Congress approved in July a plan worth $12.5 billion to overhaul the system and increase controller hiring. Peraton is the only integrator that will manage this massive project, and it will deliver it on schedule without causing any disruptions to air traffic, according to the FAA. The FAA chose...

Saluda Medical shares listed on the Australian Securities Exchange fell nearly 45% in their debut at the Australian Securities Exchange on Friday after raising A$231,000,000 ($152.67,000,000) through its initial public offer. Saluda is a U.S. medical device company that develops neuromodulation treatments to treat chronic neurological conditions. The company sold 87.1 new CHESS depositary interests at A$2.65, which valued the company at approximately A$775 millions at listing. In the first few trading minutes, the stock fell almost half its value to A$1.48. Saluda was founded in Sydney, Australia in 2010. The FDA-approved Evoke Spinal Cord Stimulation (SCS) System is a...

The U.S. government said Thursday that it had asked Waymo for more information after Texas officials claimed that Alphabet's self-driving cars had passed school buses illegally 19 times since the beginning of the school year. In October, the National Highway Traffic Safety Administration launched an investigation after an incident that occurred in Georgia. A Waymo was not stationary as it approached a school bus while its red lights were flashing and its stop arm was deployed. The Austin Independent School District posted a letter on November 20, 2018 by the NHTSA. In the letter, they stated that five incidents had...

A group of Democratic Senators introduced legislation on Thursday that would require airlines to compensate passengers for significant delays with cash. Mark Kelly, Ed Markey, and Richard Blumenthal, senators who are leading the charge, propose to mandate compensation that is in line with European Union (EU) and Canadian requirements. This includes mandating a minimum of $300 for delays of over three hours, and a minimum of $600 for delays of six hours or longer. This proposal was first reported on by after President Donald Trump's administration withdrew his predecessor's plan to force airlines to compensate passengers for flight delays caused...

Central Statistics Office data show that Ireland's economy grew 2.3% in its third quarter, compared with the previous three-month period. The more volatile Gross Domestic Product (GDP), however, was down 0.3% following a surge at the beginning of the year. Officials prefer to measure the strength of Ireland's economy using modified domestic demand, or MDD. The growth in the quarter was almost exclusively driven by an increase of 8.3% in modified investments. MDD has increased by 4.1% in the last year, while the GDP, which in recent years has diverged from domestic activity, is 15.8% higher in the first nine...

Copa Airlines, the Panamanian airline, has suspended flights on Thursday and Friday to and from Venezuela’s capital Caracas due to a navigational signal problem reported by its pilots. In a late-Wednesday statement, the company said that this issue had not compromised flight safety. Why it Matters Copa has joined a long list of international airlines that have suspended flights to Venezuela, including Iberia and TAP. * The airline described this issue as intermittents in a navigational signal and referred to the suspension of service as a "preventative" measure. * The carrier said that it is evaluating the current situation and...

As chaos worsened at India's key airports, at least 175 IndiGo flight were cancelled on Thursday morning. This was after strict government regulations regarding crew safety standards threw the roster planning of India's largest airline in disarray. The disruptions left thousands of travelers stranded in their hotels for the past three days. IndiGo, with a market share in the domestic market of over 60%, cancelled 150 flights on Wednesday across several major cities. A spokesperson for the airport said that 73 flights were canceled on Thursday. According to airport sources, around 30 flights were cancelled in Delhi and 68 in...

Tigerair, Taiwan's low-cost carrier, announced on Wednesday that it had approved the purchase and lease of eleven new A321neo planes from Airbus for T$40billion ($1.28billion) in order to expand its network. Tigerair, which is majority owned by Taiwan Airlines, also has an option to purchase four additional A321neos, according to a statement posted on the airline's website. It added that the 11 A321neo aircraft being leased are expected to arrive by 2031. The four aircraft purchased after 2031 will be deployed in full by 2035. Tigerair flies to Japan, one of the most popular destinations for Taiwanese tourists and businessmen....

Delta Air Lines announced on Wednesday that it expects to take a $200 million hit to its fourth quarter pre-tax profits due to the U.S. Government shutdown which ended last month. The company stated that the impact is about 25 cents a share. The Atlanta-based carrier forecasted an adjusted profit between $1.60 and $1.90 per share for the three months through December in October. The 43-day shutdown of the government affected flight operations, and thousands of air traffic control operators and other staff were forced to work without being paid. Flight cuts were also ordered by the Federal Aviation Administration...

The U.S. regulator announced on Wednesday that it would require Boeing divest significant Spirit AeroSystems' assets in order to address competition concerns regarding its $8.3 Billion acquisition of the company which manufactures major fuselages and wing parts for aircraft, including the Boeing 737. The Federal Trade Commission has proposed an order that delays the merger planned by Boeing, which was scheduled to be completed before the end of this year. The proposed order is open for public comments for 30 days. Boeing's shares fell 2.3% intraday. The commission wants Spirit to divest its parts that provide aerostructures to Airbus, its...

On December 11, the defence ministers of Germany, France, and Spain will meet to discuss FCAS - Europe's next generation fighter jet project - according to a source with knowledge of the issue. FCAS, a 100 billion-euro (117 billion-dollar) Future Combat Air System, was announced more than eight-years-ago but has been mired by disputes between companies over work-share and prized technologies. Bloomberg was the first to report on this meeting. The next phase in plans to deliver a fighter flanked with drones for France and Germany by 2040 is at stake, mirroring an UK-ItalianJapanese initiative known as GCAP. The project...

Delta Air Lines announced on Wednesday that it expects the shutdown of the US government, which ended in late January, to have a $200-million impact on its fourth quarter profit before taxes. The carrier stated that the loss in profitability is about 25 cents a share. It added that the growth of travel bookings has returned to expectations after the end of the shutdown. The 43-day government shutdown affected flights, and thousands of air traffic control operators and other staff were forced to work without pay. JetBlue announced earlier this week that Hurricane Melissa in Jamaica, and cancellations due to...