XTI Aircraft takes steps toward flying prototype

DXTI Aircraft Company (XTI) has taken three important steps toward flying its first piloted TriFan 600 prototype within two years, the company said.

XTI has re-opened its crowdfunding initiative after receiving Securities & Exchange Commission (SEC) approval to sell 20 million shares of common stock to investors. The company accelerated its development schedule with plans to fly a 10 percent scale model in six months after achieving its next USD1.2 million financing milestone and a two-thirds piloted prototype two years after raising additional funds.

The six-seat TriFan 600 will have the speed, range and comfort of a business jet and the ability to take off and land vertically like a helicopter. Using three ducted fans, the aircraft will lift off vertically and its two wing fans rotate forward for a seamless transition to cruise speed, at 400 miles an hour and a range of up to 1,600 miles.

XTI Aircraft Company is a privately owned aviation business based in Denver.

Search for MH370 to suspend after completion of search area

Australia, China and Malaysia, the Joint Agency Co-ordination Center transport ministers have reiterated that they will suspend the hunt for the missing Malaysia Airlines flight MH370 after it has combed the 120,000km search area, the agency said.

In a joint statement by the Joint Agency Co-ordination Centre, transport ministers from the three countries said the search for the Boeing 777-200ER will resume “should credible new information emerge which can be used to identify the specific location of the aircraft. The suspension does not mean the termination of the search. Ministers reiterated that the aspiration to locate MH370 has not been abandoned.”

More than 110,000km of the search area have been already covered but “the likelihood of finding the aircraft is fading”, states the co-ordination centre.

To date, the search has yielded several parts, including an outboard wing flap, which is being investigated to ascertain if it came from a Malaysia Airlines 777, as well as an engine cowling segment and a part of a door assembly.

While acknowledging the significance of the debris, ministers of the three countries noted that none of it had provided information that positively identified the precise location of the aircraft.

AST implements Oracle enterprise resource for Detroit

The city of Detroit has completed transformation of its financial and operational systems implemented by AST Corporation and is live with Oracle Cloud for Finance, the company said.

The modern and integrated enterprise cloud solution includes Oracle Financials Cloud, Oracle Procurement Cloud, Oracle project portfolio management (PPM) Cloud, Oracle Planning and Budgeting Cloud service, along with Oracle Fusion middleware.

As a result of its fiscal distress and bankruptcy exit criteria, the city underwent a full functional transformation of its financial operations, including replacement of legacy financial management systems and restructuring of the city´s financial functions.

This implementation is part of a restructuring of financial, IT and HR operations.

AST is a member and systems integrator of Oracle Partner Network.

Etihad Aviation, partners to support 108,000 US jobs, contribute to national economy

Etihad Aviation Group (EAG) and its equity partner airlines intend to support 108,000 jobs across the USA in 2016 and make a USD10.7 billion contribution to the national economy, the company said.

The diversified and commercially driven Abu Dhabi-based global aviation and travel group has key interests in the United States operating to six gateway cities across the country. Its economic contribution includes capital spending with US-based suppliers that supports tens of thousands of domestic jobs.

In 2016 EAG´s core economic contribution to the US economy will be USD3.8 billion in Gross Domestic Product (GDP), supporting 30,300 jobs. This consists of the US impact from EAG´s global operations and its capital spending with US-based suppliers, largely due to Etihad Airways´ capital investment in new aircraft, cabin interiors and IT infrastructure. This employment translates to domestic spending, delivering USD2.9 billion to the country´s GDP.

EAG includes Etihad Airways, Etihad Airways Engineering, Hala Group and Airline Equity Partners. The group owns minority investments in seven airlines: airberlin, Air Serbia, Air Seychelles, Alitalia, Jet Airways, Virgin Australia, and Swiss-based Darwin Airline, trading as Etihad Regional.

CopaSAT awarded multiyear contract to supply managed service to US government agency

CopaSAT LLC has entered into a multiyear contract with a US government agency to provide a managed service, providing and maintaining Ku-band man portable terminals for end-to-end communications in support of global operations, the company said.

The contract is currently scheduled to end in June 2021.

CopaSAT is a certified small business provider of turn-key, end-to-end, complex satellite solutions that simplify the deployment of specialized satellite communications for primarily government usage.

UK economic growth accelerated in the run-up to BREXIT

The UK?s economic growth accelerated in the run-up to the EU referendum, according to new figures from the Office for National Statistics (ONS).

The economy grew by 0.6% in the three months to the end of June, compared with 0.4% in January-March, the ONS said on Wednesday.

The referendum took place at the end of June, but the statistics agency said that there was little sign of uncertainty ahead of the crucial vote.

ONS chief economist Joe Grice said: ?Continued strong growth across services, particularly in retailing, reinforced by healthy growth in the manufacture of cars and pharmaceuticals, boosted output in the second quarter.

?Any uncertainties in the run-up to the referendum seem to have had a limited effect. Very few respondents to ONS surveys cited such uncertainties as negatively impacting their businesses.?

Last week?s Markit/CIPS purchasing managers? index (PMI), based on data for July, suggested that economic activity fell sharply in the weeks after the referendum.

A separate survey also released on Wednesday looks at high street sales and points to a decline in sales volumes.

The CBI reported that UK retail sales fell at the fastest pace in over four years in July. It said that weaker consumer confidence immediately after the EU referendum is a likely factor behind the decline.

Rain Newton-Smith, chief economist at the CBI, commented:

?While conditions in the retail sector have weakened, we should be careful about reading too much too soon, as consumers were likely to err on the side of caution in the immediate period following a vote to leave the EU.

?Current low levels of inflation and high overall employment should support consumer spending in the near term, although the impact of lower sterling is likely to feed through to higher inflation over time.

?What businesses and consumers need now is calm and decisive leadership, a clear timetable and a plan for negotiating the UK?s future outside the EU to restore confidence.?

eWBM mass produces low power SoC for new era IoT security

eWBM Co., Ltd. has begun mass production of the MS500 and MS300, micro-controllers with strong embedded hardware security features for Internet of Things (IoT) applications, the company said.

The company said security is a problem for IoT since most IoT applications are operating with limited software-­based security capabilities or no security. The company said it plans to provide the right solution to address existing IoT security concerns with MS300/MS500 micro-controllers.

eWBM Co., Ltd obtained official FIDO alliance certification (FIDO CertifiedTM) in April of 2016 under interoperability testing as the first South Korean SOC company using MS1000 platform.

Boeing forecasts need for 1.5m pilots, technicians by 2035

Boeing (NYSE: BA) has released its 2016 Pilot and Technician Outlook, projecting a demand for nearly 1.5 million pilots and technicians over the next 20 years, the company said.

In its seventh year, the outlook is an industry study forecasting the 20-year demand for crews to support the world´s growing commercial airplane fleet. New this year is a look at cabin crew demand.

Boeing forecasts that between 2016 and 2035, the world´s commercial aviation industry will require approximately 617,000 new commercial airline pilots, 679,000 new commercial airline maintenance technicians and 814,000 new cabin crew.

The 2016 outlook shows a growth of 10.5 percent for pilots over the 2015 outlook and 11.3 percent for maintenance technicians. New pilot demand is primarily driven by new airplane deliveries and fleet mix, while new technician demand is primarily driven by fleet growth.

The Asia-Pacific region comprises 40 percent of the global need due to the growth in the single-aisle market which is driven by low-cost carriers, while North America is the result of new markets opening in Cuba and Mexico, and demand in Europe has increased as a response to a strong intra-European Union market.

YOU on Demand closes strategic investment from Seven Stars Works

YOU on Demand Holdings, Inc. (NASDAQ: YOD) has closed on a strategic investment from Seven Stars Works Co., Ltd., a Korea company and an affiliate of Beijing Sun Seven Stars Culture Development Limited, a PRC company, the company said.

SSS is controlled by the chairman of YOU on Demand´s board of directors, Bruno Wu.

The company has agreed to sell and issue 2,272,727 shares of the company´s common stock to SSW for a total purchase price of USD4.0 million.

YOU on Demand said it intends to use the net proceeds of the transaction for M&A activity, licensed content procurement and general working capital purposes.

YOU on Demand Holdings, Inc. leverages and optimizes its current operations as a premium content VOD service provider in China to evolve into a global, B2B2C, mobile-driven, consumer management platform for both enterprises and consumers.

Aviall distributes Weldon pump products globally

Aviall has begun to distribute Series 18000 and 19000 pumps for general aviation applications, covering many airframes including Cessna and Robinson, the company said.

The company said it will stock new and factory overhauled pumps, which were installed on multiple other aircraft as original equipment.

Weldon Pump has designed, engineered and manufactured fuel pumps and fluid systems for a wide range of aircraft since 1942, providing a line of fuel and hydraulic pumps for general aviation, military aircraft, ground support vehicles and UAVs.

Aviall operates as a wholly owned subsidiary of Boeing Company, supporting both commercial and defense business units within Boeing. Aviall is a solutions provider of aftermarket supply-chain management services for the aerospace and defense industries.