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Boeing receives EU antitrust approval for Spirit AeroSystems $4.7 billion deal
Boeing received EU antitrust approval Tuesday for its $4.7 Billion acquisition of Spirit AeroSystems, after agreeing on the sale of some Spirit businesses in order to address concerns about competition. Boeing announced a deal last year to streamline its operations and improve the quality of its products, many years after it had spun off the airline suppliers. Boeing offered remedies when the European Commission, the EU's antitrust enforcer said that the deal would have reduced competition on the global aerostructures market and the large commercial aircraft industry. The Commission confirmed a report last week that it had accepted Boeing's proposal to divest Spirit's aerostructures business to Airbus. Boeing will sell Composites Technology Malaysia Sdn Bhd the Spirit site in Malaysia that supplies aerostructures for Airbus. This allows the Malaysian firm to enter the market. Teresa Ribera, EU antitrust chief, said that "Boeing’s commitments" will preserve competition on this important market. They also allow for the entry of new competitors and guarantee commercial aircraft manufacturers get the parts they require at competitive prices. The U.S. has yet to approve the deal. Boeing's spokesperson stated that they were committed to completing the acquisition and obtaining the necessary regulatory approvals. This will allow Boeing to continue to produce high-quality, safe airplanes, benefiting the flying public and our customers. Spirit Airlines said that it is working hard to meet the closing conditions, as well as complete its further planning with Boeing Airbus and Composites Technology. Spirit AeroSystems' spokesperson Joe Buccino stated, "This is a milestone towards transaction closure expected this quarter."
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Blackouts across several states caused by fire at Brazil's power substation
An early morning fire at a substation of Brazilian company Eletrobras caused a power outage in several parts of Brazil. Officials said that the shutdown affected more than one million Brazilians and around 10,000 megawatts of load. OnS, Brazil's energy operator, said that the incident took place in a reactor of a substation located in the south. It shut down the facility, and caused the disconnection for the entire region. The region was exporting 5,000MW to the rest of Brazil. The fire in the South resulted to a loss of 1,600 MW. In other areas, an automatic protection system was activated to cut the power when a disturbance caused the system to need to be rebalanced. The Northeast region was affected by an interruption of approximately 1,900MW. The North region suffered an interruption of 1,600MW. And the Southeast region was affected by 4,800MW. Brazil Mines Minister Alexandre Silveira described the blackout as an isolated incident that was not caused by a lack in energy but an issue with infrastructure. "We now have greater energy safety." "This was an isolated incident to which ONS responded promptly," Silveira stated during an interview with local television. ONS reported that the equipment was restored and the loads recovered "safely" within the first minutes. All the loads were returned within two-and-a half hours. Eletrobras stated in a press release that it would work with ONS in order to identify the cause of the incident, and the agency will also investigate the factors leading to the wider disturbance in the interconnected national system. The blackout affected at least 1.3 millions people, according to electricity distributors in the country. These include Light and Enel Sao Paulo. (Reporting by Leticia Fucuchima in Sao Paulo and Rodrigo Viga Gaier in Rio de Janeiro; Writing by Fernando Cardoso; Editing by David Gregorio)
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Sources: Enagas is in negotiations to purchase GIC's stake in French gas grid operator Terega.
According to two sources familiar with the matter, Enagas, a Spanish gas grid operator, is in negotiations to buy GIC, a Singaporean sovereign fund, 32% of Terega, France’s second largest gas transmission operator. Terega also partners with the Spanish company on a project to build a hydrogen pipe connecting Spain and France. The companies also run gas pipelines between the two countries. According to one person, the stake could be worth up to 600 million euros. The French company's value, including its debt, is estimated at 4 billion euros. According to LSEG, Enagas' market capitalisation stood at 3.6 billion euro as of Monday close. The sources, who spoke on condition of anonymity because the conversations were private, said that no deal was certain. Enagas declined to comment. Terega refused to comment on these talks and didn't respond to an inquiry about the value of the stake. Enagas could achieve its stated goal of accelerating investments in hydrogen infrastructure by signing a deal with GIC. Terega, Enagas and Engie's Natran unit are part of a joint-venture to build a trans-border hydrogen pipe between the Spanish port of Barcelona and France's Marseille. This project is part of the larger H2Med pipeline, a 2.5 billion euro project, which will connect Portugal, Spain France and Germany in 2030. The European Union hopes to replace some of the natural gas used in homes with hydrogen which doesn't emit CO2 when it is burned. According to the website of Terega, Italian gas grid operator Snam holds a stake of 40.5%, French utility EDF has an 18% stake and French bank Credit Agricole has a 10% share. EDF and Credit Agricole explored selling their stakes, but the deal never materialized.
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Boeing receives EU antitrust approval for Spirit Aerosystems $4.7 billion deal
Boeing received EU antitrust approval Tuesday for its $4.7 Billion acquisition of Spirit, after agreeing to some Spirit businesses being sold to address concerns about competition. The agreement announced in July of last year is intended to streamline Boeing's operations and improve its quality control. This comes years after the company spun off its key airline supplier. Boeing offered remedies when the European Commission (which acts as EU antitrust enforcer) said that the deal would have reduced competition on the global aerostructures market and the large commercial aircraft sectors. The Commission confirmed a report last week that it had accepted Boeing's proposal to divest Spirit's current businesses, which supply aerostructures for Airbus. Boeing will sell Composites Technology Malaysia Sdn Bhd the Spirit site in Malaysia, which supplies aerostructures for Airbus. This allows the Malaysian firm to enter the market. Teresa Ribera, EU antitrust chief, said that "Boeing’s commitments" will preserve competition on this important market. They also allow for the entry of new competitors and ensure commercial aircraft manufacturers get the parts they require at competitive prices. (Reporting from Foo Yunchee)
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Boeing lags behind Airbus in September deliveries of 55 jets
Boeing said that it delivered 55 jets to customers in September. This is up from 33 in September of last year, when the production was curtailed by a strike by some 33,000 workers at its Northwest factories. The total is broadly stable from August's 57 deliveries Boeing delivered 87 aircraft in September 2018, its best month since 2018. However, it still lags behind rival Airbus which delivered 73 planes last month. Airbus delivered 507 aircraft to Boeing's 440 in the first nine-month period of this year. Last month, Boeing delivered 40 737 MAX jets, including 10 to Ryanair. One of these marked Boeing's milestone 2,000th MAX aircraft delivery. The company also delivered a 737 NG to be converted into a P-8 Patrol aircraft for the U.S. Navy, as well as 14 widebody aircraft, including four 767s and three 777 Freighters. Eight aircraft were delivered to Chinese customers. These included a 777 Freighter, a Boeing 787 and six 737 MAX jets. On Friday, U.S. president Donald Trump warned that he would impose export restrictions on spare parts of Boeing aircraft. According to U.S. Treasury Sec. Scott Bessent, tensions between Washington and Beijing had eased by Monday following a weekend filled with substantial communications. Boeing placed 96 new orders for September, including 30 737 MAXs for Norwegian Airlines and fifty 787s Turkish Airlines. Uzbekistan Airways ordered 14 787s. The company also said that it booked two 737-MAX orders for an unknown customer. After cancellations and conversions, Enter Air cancelled one 737 MAX Order. After adjustments, the backlog of aircraft at the company decreased from 5,994 to 5,987.
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Belgium general strike disrupts public transport in Brussels
The general strike in Belgium that took place on Tuesday caused the majority of planes to be grounded at both main airports, and also disrupted the public transport system in Brussels. Brussels police estimate that 80,000 demonstrators marched between the Gare du Midi and Gare du Nord train stations in Brussels, crossing through the city center. Police detained a few dozen people following an incident that involved fires on the capital's main boulevards. The protest was part of a larger series this year that has been against government proposals to reform the pension system and labour market. A spokesperson for the airport confirmed that all flights scheduled to depart and land from Brussels International Airport were cancelled on Tuesday after the staff of the security company providing X-ray scanning walked out. According to the website, no planes are taking off or landing from Charleroi Airport, located 60 km (40miles) south of Brussels. In a social media post, STIB, the public transport operator, said that the strike had resulted in the closure of most of the underground, bus, and tram lines of Brussels. Thierry Bodson said that pensions are what really motivates people, on the French-language national radio station RTBF, on Tuesday. According to the website of FGTB, it has over 1.5 million members. Bodson said that the reform will not only reduce future incomes for retirees, but also create uncertainty because it changes how state pensions calculations are calculated. "The pension is too low for those who are physically active," said Michael Mary, 53. He was on a march in Brussels. People who wish to retire early would be subject to additional conditions under the planned reform. The retirement age will gradually be raised to 67. Strikers led by major unions in the country and supported by groups like Greenpeace and Oxfam are against the ruling federal coalition headed by Prime Minister Bart De Wever. The coalition announced a number of reforms aimed at cutting government spending. De Wever is the leader of a coalition dominated by right-wingers. He was appointed prime minister in Febraury and comes from the nationalist New Flemish Alliance. He pledged to cut deficits without increasing taxes, but faces challenges when it comes to finalising the budget for next year. (Reporting and editing by Charlotte Van Campenhout, Olivier Holmey, and Milan Berckmans)
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The German LNG import terminals
Germany has begun putting into operation natural gas import terminals as part of its efforts to replace Russian gas piped through the country following Moscow's invasion in Ukraine in 2022. The company is using floating storage regasification (FSRU) units to receive seaborne LNG. According to official data, this LNG accounted for 11% of German gas imports in the first quarter of 2025. In the long-term, Germany plans to build shore-based installations for the importation and production of green hydrogen. The latest news is summarized below: MUKRAN The LNG terminal in Ruegen, Baltic Sea, is operated by the private company Deutsche ReGas. It supplies LNG to onshore grids from Gascade's OAL link in collaboration with Norway's Hoegh Evi FSRU Neptune. The company wants to restart a FSRU and restore its full capacity of 13,5 billion cubic meters by 2027. ReGas, in long-term agreements, has launched a bid round to expand Mukran’s capacity. They are offering 5 bcm more per year between 2027 and 2043. It said that in September it had signed long-term agreements for regas capacities with the chemicals producer BASF, and Norwegian incumbent Equinor. S&P Global Platts has added Mukran to its benchmark price assessment for Northwest Europe LNG delivered ex-ship. LUBMIN ReGas, Hoegh and Gascade plan to turn the Baltic Sea port - a precursor of Mukran - into an ammonia/hydrogen terminal. Once it is completed, Gascade will connect with its customers. WILHELMSHAVEN Utility Uniper will launch Germany's first FSRU, Wilhelmshaven 1, in the North Sea by 2022. The vessel underwent maintenance from October 2 to 10 in preparation for winter. Uniper has plans to build a 200-MW electrolyser that will be powered by local wind energy and a land based ammonia reception terminal. After testing and preparation since May, DET began commercial operations at Wilhelmshaven 2 officially on August 29, via the Excelerate Energy operated FSRU Excelsior. Maintenance will take place between October 11-24. In July, all available slots for 2025 and 2026 regasification were assigned to gas market participants. Hanseatic Energy Hub took a final decision in 2024 to invest in a terminal that is ammonia ready and will be located at the Elbe River inland port. The terminal is expected to begin operations in 2027. The terminal will cost approximately 1 billion Euros ($1.16 billion). DET and HEH have cancelled their contracts after they could not resolve disputes over construction schedules or payments. BRUNSBUETTEL DET announced that the Brunsbuettel FSRU – the Hoegh Gannet – will undergo two-month-long upgrades starting September 17 and will be operational by the end of the winter season. The vessel was chartered initially by RWE's trading arm, before it was handed over to DET. The state has approved the support of 40 million euros for this facility. The terminal could begin operations by the end of 2026 when an adjacent ammonia facility, which was recently inaugurated, could also be operational. Reporting by Vera Eckert and editing by Alexander Smith. $1 = 0.8657 Euros
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Ex-Atlantia CEO faces up to 18 years in prison for Genoa bridge collapse, according to prosecutors
The Italian prosecution sought on Tuesday a sentence of 18-1/2 years in prison for the former Atlantia CEO Giovanni Castellucci, over the fatal 2018 collapse of an autobahn bridge in Genoa, a port city located to the northwest. The prosecution is continuing its closing arguments for the three-year case involving 56 defendants. These include employees and executives from the company responsible for the maintenance of the bridge and the Transport Ministry. Castellucci has already been in prison in Rome for six years, after a fatal accident in 2013, on a viaduct located in southern Italy. Atlantia's Autostrade per l'Italia unit, which operates the Morandi Bridge in Genoa (Aspi), collapsed the bridge during the height of summer holidays on August 14, 2018. The collapse killed 43 people and exposed the crumbling state of Italy's infrastructure. They face charges that range from multiple manslaughter, to false statements. All of them have denied the allegations. In 2022, the judge closed the case against Autostrade and SPEA, its maintenance subsidiary. The collapse of the bridge sparked a dispute that led to the sale in 2021 of Atlantia’s controlling stake in Autostrade. The collapse of the bridge was caused by the rupture of load-bearing cable inside the ninth pillar's stay, which had been eaten away over the past 51 years by a highly corrosion atmosphere. The prosecution claimed that the collapse of the building was due to years of inadequate, faulty or omitted maintenance in order to delay necessary repairs as long as possible and continue to pay dividends. Lawyers for the defence said that the collapse of the stay cable 9 was due to a construction defect which was not detectable and was unavoidable. Experts from civil parties said that structural problems had been previously identified in cables 10, 11, and then reinforced. It was therefore foreseeable that cable 9 could have experienced similar issues. In the months to come, after the prosecutors and civil plaintiffs present their closing arguments the defence lawyers of all defendants will present them. The first-instance decision is not expected to be handed down before spring 2026.
Canada's Horizon Aircraft selects Pratt & Whitney engines for its hybrid aircraft
Horizon Aircraft announced on Tuesday that it has purchased the PT6A engine from Pratt & Whitney Canada for its hybrid vertical-takeoff aircraft.
The Canadian firm, Cavorite X7, will incorporate the engine that powers thousands of commuters, agricultural and business aircraft around the world into its Cavorite aircraft.
Horizon, a U.S.-based air-taxi firm, is betting on hybrid electric technology.
Horizon also plans to manufacture the aircraft for emergency services, defense companies and commercial operators.
Brandon Robinson, CEO of Brandon Robinson, said that hybrid aircraft have many advantages over all-electric designs. They can use warm air from the engine to de-ice and heat the cabin.
He said that the aircraft's battery can be recharged en route in minutes. This allows for a complete charge to occur during landing.
Cavorite X7 is capable of carrying up to 7 passengers, and can travel up to 880 km.
Horizon plans on having certified aircraft in production before 2030.
EVTOL companies, such as air taxi operators are racing to get approvals, build their supplier base, and launch their vehicles on the market to meet the demand for more efficient, sustainable urban transportation.
Pratt & Whitney Canada, a subsidiary of the U.S. defense contractor RTX, is based in Canada.
According to LSEG, Horizon Aircraft's market value is approximately $150 million based on its Monday closing price. (Reporting from AnshumanTripathy in Bengaluru, Editing by Sahal Muhammad)
(source: Reuters)