Aerospace and Defence Update

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Aerospace and Defence Update

g to comment on Reuters ⁠declined

commercial discussions. Philippine Airlines said it could not provide information on potential fleet acquisitions. The deal comes after the airline's president disclosed at an industry

summit in June that the airline planned to order new planes in the next couple of months.

Kongsberg misses order intake estimates, shares slip: Norwegian defence and technology firm Kongsberg Gruppen reported a smaller-than-expected 53% rise in second-quarter

order intake on Monday, sending its shares down as much as 9%. Kongsberg said quarterly orders rose to 17.07 billion Norwegian crowns ($1.75 billion) from 11.19 billion crowns a

year earlier. "We are experiencing growing interest in security both below the sea surface and in space, areas where Kongsberg is well positioned," CEO Eirik Lie said in a statement.

Kongsberg said last year it was expanding production capacity to meet rising orders. "We also prepared for building up more capacity when we see that is needed," Lie told Reuters ⁠are

Reuters, adding the company was in talks with governments and customers to better understand future demand. In May, reported first-quarter orders more than ⁠Kongsberg

doubled, driven by strong demand for weapon stations and counter-drone systems. Last month, it said it was seeking to triple its revenue by 2029 and more quadruple it by ⁠than

2033. "The order backlog and market developments we have seen in the second quarter position us well to realise these ambitions," Lie said.

Riyadh Air studies orders for 25-30 Boeing 787s and more Airbus, sources say: Saudi startup Riyadh Air is studying the purchase of between 25 and 30 more Boeing 787

Dreamliners by exercising most of its contractual options with the U.S.