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RFA concerned about lack of transport experience with new Ministers at DoT
Published: 02 Jul 24
While industry bodies such as Agri SA and the Minerals Council South Africa have welcomed the Ministerial appointments or reappointments to the departments that concern them, the Road Freight Association (RFA) is less optimistic about the new Cabinet appointments announced on June 30.
RFA CEO Gavin Kelly says in a statement issued on July 2 that some appointments raise concerns about political motivations, rather than a focused effort to address the country’s pressing issues.
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Major restructuring in global aerospace sector confirmed – Boeing, Airbus, absorb Spirit
Published: 02 Jul 24
In one of the most important merger and acquisition deals in the global aerospace sector in years, US-based Boeing has announced that it is acquiring another large US group, aerostructures manufacturer Spirit AeroSystems (Spirit), in an all-share deal valued at some $4.7-billion. Including the last reported net debt of Spirit, the total value of the deal was about $8.3-billion. The deal was complicated by the fact that Spirit had production contracts with other aerospace groups, not least Europe-based Airbus, producing major parts for the A200 and A350 families of airliners. That required Airbus to be involved in, and approve, the deal (otherwise, there would have been severe regulatory issues). These complicated negotiations have successfully born fruit, with Spirit’s facilities doing work for Airbus to be acquired by the European group. For these facilities, Airbus would pay a nominal $1 (one dollar) and actually receive a compensatory payment of $559-million from Spirit.
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