In President Obama’s speech on NSA surveillance on January 17th, the President told the audience that “in our rush to respond to a very real and novel set of threats, the risk of government overreach, the possibility that we lose some of our core liberties in pursuit of security also became more pronounced.”
The House and Senate passed legislation Wednesday to extend the government’s borrowing authority. Lawmakers were under extreme pressure to come up with a solution before February 27th, the date the Government would hit the current ceiling.
With the March 4th submission of the fiscal 2015 budget approaching, more information detailing plans of future spending and potential cuts continue to be determined. Among the departments soon to realize their respective fates, the Air Force is expecting to take severe cuts to personnel and platforms.
Multiple aerospace and defense earnings results for fiscal quarters ending December 31st, 2013 were released this week with general positivity across the board within both sectors. Aerospace companies reported exceptional results riding on the momentum of record numbers of year-end deliveries, new orders, and backlogs.
Bombardier’s rough beginning to 2014 continues as the company announced it would lay off approximately 1,700 employees from its aerospace division, or 4.4% of its aerospace workforce, due to continued difficulties within the tough market and ongoing delays of its CSeries line of aircraft.
On Thursday the Senate approved a $1 trillion omnibus spending bill for FY 2014, which was approved by the House of Representatives on Wednesday with broad bipartisan support. President Obama is expected to sign the legislation before the current stop-gap funding measure expires on Saturday
Boeing started the year on a high note as the Company announced it set a new record of deliveries in 2013 in addition to coming to an agreement with machinist union members surrounding assembly work for the new 777X. Driven by high production rates on the 737, 777, and 787 lines of aircraft, which the OEM has been steadily ramping up over the past few years, Boeing delivered 648 commercial aircraft in 2013.
2014 looks to be an important year for execution for three major aerospace OEMs and their newer model landmark aircraft. Airbus is now facing a crucial twelve months as it enters the second half of the A350-900 flight-test program and moves towards addressing items required for certification.