Latest news with #FarnboroughInternationalAirshow
Newsweek
6 days ago
- Business
- Newsweek
Key US Ally Eyes Alternative to America's F-35 Jet
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The United Arab Emirates is eyeing South Korea's most advanced fighter jet, the KF-21 Boramae, after canceling plans to acquire U.S. F-35 stealth fighters. Newsweek has reached out to the Emirati Defense Ministry and South Korea's Air Force for comment. Why It Matters South Korea is emerging as a major defense exporter. The UAE, another key U.S. ally, is weighing alternatives to American weapons, highlighting a shift among Arab nations toward suppliers such as South Korea, China, and Turkey, fueled by curbs on the F-35 program and mounting frustration over Washington's failure to broker a Gaza ceasefire while continuing to offer Israel unwavering support. A model of a KF-21 Boramae multi-role fighter aircraft is displayed during the Farnborough International Airshow on July 23, 2024 in Farnborough, England. A model of a KF-21 Boramae multi-role fighter aircraft is displayed during the Farnborough International Airshow on July 23, 2024 in Farnborough, To Know During talks on security and defense-industry cooperation, the UAE's defense undersecretary inspected a prototype version of South Korea's KF-21 at Sacheon Air Base and flew as a passenger in the rear seat of one of the aircraft, officials said. In April, the two countries signed a letter of intent to pursue comprehensive cooperation on the KF-21 fighter jet program. The KF-21 Boramae, set to replace aging F-4 and F-5 jets, is being developed by Korea Aerospace Industries and the Korean Agency for Defense Development with partners including Lockheed Martin. It has a 1,000 km combat range, carries air-to-air, air-to-surface, and anti-ship missiles plus guided and cluster bombs, as well as featuring semi-stealth characteristics, according to the National Security Journal, a defense platform. The UAE announced plans to purchase 50 F-35 jets soon after normalizing ties with Israel under the 2020 Abraham Accords but canceled the deal because of U.S. security conditions, operational restrictions, and tensions over Emirati relations with China, prompting the Gulf nation to pursue a broader strategy of weapons diversification. The UAE pledged to invest over $1 trillion in the U.S. economy over the next decade during President Donald Trump's visit to the country as part of a Gulf tour in May 2025. South Korea accelerates plans for KF-21 Block 2 and maritime helicopter procurement. — International Defence Analysis (@Defence_IDA) August 13, 2025 What People Are Saying Abdulkhaleq Abdulla, UAE professor of political science and non-resident senior fellow at Harvard University, told Newsweek: "From now on the UAE is no longer bound by one source for modernizing its Armed Forces. This has come as a result of America being too demanding and being very political. I believe the F-35 deal triggered it massively. France is there, with little conditions, definitely less than the American ones, and now we also find out that in the east there's a strong partner called South Korea." The Army Recognition Group defense news website says: "Compared to the F-35 Lightning II, the KF-21 offers less stealth and lacks full fifth-generation networking capability but compensates with significantly lower acquisition and operating costs, simplified maintenance and fewer export restrictions, which could be appealing to countries seeking operational independence." South Korea's Air Force Chief of Staff General Lee Young-su said in February after a flight test, according to The Korean Times: "In terms of power, maneuverability, avionics and weapon capabilities, I am confident that the KF-21 will stand shoulder to shoulder with world-class fighter jets." What Happens Next South Korea plans to roll out an upgraded KF-21EX variant with internal weapons bays and enhanced stealth features.
Yahoo
05-06-2025
- Business
- Yahoo
Arkansas governor announces overseas trade mission
Gov. Sarah Huckabee Sanders emerges from the cabin of a Falcon 8X jet on Dec. 12, 2023, that was used as backdrop for an announcement by Dassault Falcon Jet CEO Thierry Betbeze that the French company would invest 'tens of millions' in its Little Rock facility and add 800 jobs (John Sykes/Arkansas Advocate) Gov. Sarah Huckabee Sanders will travel to Europe this month for an overseas trade mission that will include stops in France and Switzerland, according to a Thursday press release from her office. Sanders' trip, which is scheduled for June 14-19, will include appearances at a Paris Air Show panel hosted by the Aerospace Industries Association and a fireside chat organized by the Swiss-American Chamber of Commerce. The governor's first stop is Normandy to honor fallen soldiers, including U.S. Army Private Rodger D. Andrews whose remains were recently identified and will be laid to rest in Arkansas on June 9. She'll continue on to the Paris Air Show to meet with aerospace and defense companies, and then to Switzerland to discuss 'investing in Arkansas with several large corporations,' according to the release. 'International trade missions are a great way to pitch Arkansas to companies that might not otherwise have our state on their radar and have a proven track record of bringing in jobs and investment,' Sanders said in a statement. The governor's visit to the Farnborough International Airshow in England last summer helped secure Taber Extrusions' $60 million, 70 job expansion in Russellville, according to the release. During her trip to the Paris Air Show in 2023, Sanders' discussions helped facilitate Dassault Falcon Jet's $100 million, 800 job expansion in Little Rock and RTX's new $33 million manufacturing facility in East Camden, which was later expanded to a $63 million investment. The governor's 2023 Paris trip also led to what became known as Lecterngate. A series of public information requests submitted that summer by a blogger investigating Sanders' travel expenses revealed a state-issued credit card was used to purchase a $19,000 lectern and carrying case from a Virginia-based company with political ties to Sanders. The discovery prompted lawmakers to request an audit, which found several instances of 'potential noncompliance' with state law. The report was sent to the Arkansas attorney general and Pulaski County's prosecuting attorney, the latter of whom declined to pursue charges. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
The Star
02-06-2025
- Business
- The Star
Vietnam Airlines to finalise order for 50 Boeing 737 MAX jets very soon, executive says
FILE PHOTO: The Boeing 737 MAX aircraft is displayed at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. - Reuters NEW DELHI: Flag carrier Vietnam Airlines will "very soon" finalise a provisional order for 50 Boeing 737 MAX jets that it made in 2023, a company executive told Reuters on Monday (June 2). The carrier will need up to 100 new narrow-body aircraft by 2035 to expand operations and replace existing aircraft, the executive said, declining to be named as they were not authorised to speak with media. Export-dependent Vietnam is under pressure from Washington to buy more American goods to avert tariffs. The carrier signed an initial agreement with US planemaker Boeing in 2023 for 50 of the firm's single-aisle 737 MAX aircraft, but has not yet finalised the deal. Boeing did not immediately respond to a request for comment. In April, Vietnam Airlines signed a memorandum of understanding with the country's top lender Vietcombank for funding to purchase 50 narrow-body planes, without naming the manufacturer. The executive said Vietnam Airlines would be open to ordering Airbus aircraft if it could secure delivery slots with the planemaker, which has previously said its single-aisle jets are sold out through the rest of the decade.- Reuters
Korea Herald
24-03-2025
- Business
- Korea Herald
Korean Air signs $32.7b deal with Boeing, GE to upgrade fleet
Korean Air has committed $32.7 billion to global aircraft manufacturer Boeing and leading engine maker GE Aerospace to keep its fleet modernization strategy on track, ensuring timely aircraft deliveries amid ongoing supply chain disruptions. The airline announced Sunday that its Chairman and CEO Walter Cho, Boeing President and CEO Kelly Ortberg, and GE Aerospace President and CEO of Commercial Engines and Services Russell Stokes met in Washington, DC, on Friday to finalize the deal and discuss ways to strengthen collaboration. The signing ceremony was also attended by Korea's Minister of Trade, Industry and Energy Ahn Duk-geun and US Secretary of Commerce Howard Lutnick. This marks the first time senior ministers from both countries have jointly participated in a commemorative event since the beginning of the second Donald Trump administration. Korean Air is moving quickly to implement the agreement signed with Boeing at the 2024 Farnborough International Airshow in the UK last July. The deal includes the delivery of 20 Boeing 777-9 aircraft and 20 Boeing 787-10 widebody aircraft by 2033, with an option to purchase 10 additional aircraft under similar terms. The total package includes $24.9 billion for Boeing aircraft and $7.8 billion for GE engines and maintenance, bringing the overall value to $32.7 billion. Korean Air's decision to deepen its partnership with Boeing and GE Aerospace comes amid rising challenges in the global aircraft and engine supply chain. According to the International Air Transport Association, global aircraft production has declined from 1,813 units in 2018 to 1,254 in 2024. The airline reaffirmed Cho's strong commitment to fleet modernization, especially as the fully integrated airline prepares to launch by the end of next year. 'Boeing and GE Aerospace provide the advanced technology that powers our commitment to excellence,' Cho stated during the initial agreement signing last year. 'Our partnership is essential to our vision of becoming the world's most beloved airline. I'm grateful for the solid foundation we've built together and the support from both governments that enables our continued success.' The Boeing 777-9, a next-generation widebody aircraft currently undergoing certification by the US Federal Aviation Administration, features an expanded cabin for enhanced passenger comfort. The Boeing 787-10, the largest model in Boeing's Dreamliner series, is known for its fuel efficiency and environmentally friendly design. 'Through fleet modernization, we aim to provide our passengers with a more comfortable travel experience while transitioning to fuel-efficient aircraft to reduce carbon emissions and uphold our (environmental, social and governance) management principles,' a Korean Air official said.
See - Sada Elbalad
26-01-2025
- Business
- See - Sada Elbalad
France Allows Israeli Companies to Attend Paris Air show
French President Emmanuel Macron has confirmed that Israeli companies will be allowed to participate in the upcoming Paris Airshow, as announced by the office of Israeli Prime Minister Benjamin Netanyahu on Sunday. This assurance came during a phone conversation between Macron and Netanyahu. Last year, Israeli defense companies were barred from participating in a defense industry exhibition held in Paris, following Macron's calls for Israel to halt certain military operations in the Gaza Strip. This exclusion led to a strain in relations between the two countries, but in October, a French court overturned a government ban that had prevented Israeli companies from attending a naval arms exhibition near Paris. The Paris Airshow, the largest of its kind in the world, is held biennially, alternating with the Farnborough International Airshow in the UK. The upcoming event is scheduled to take place from June 16 to June 22, 2025. The airshow traditionally features leading companies from the aerospace, aviation, and defense industries worldwide.
