Longstock SAPO Ltd, a limited liability company newly created by SAPO International of Athens, Greece, and Longstock Financial Group of Lisbon, Portugal, and with registered offices in Gibraltar, has granted a bridge loan facility of EUR 10 million to SkyEurope Airlines, the wholly-owned subsidiary of SkyEurope Holding. According to the SkyEurope investor relations website, the move precedes a possible future equity injection into SkyEurope Holding by Longstock SAPO.
In its press release, however, Longstock SAPO says it intends to acquire a controlling interest in SkyEurope Holding, which is registered in Vienna, subject to regulatory approval. Longstock SAPO does not intend to launch a mandatory takeover bid for SkyEurope, but to apply for the restructuring privilege under the Austrian Takeover Act.
The main obstacles to overcoming risks in the region are a lack of a strong cybersecurity culture and inadequate funds to invest in this domain given a widespread Chinese presence in the region.
MBDA is adapting to supply chain pressures as the Russian invasion of Ukraine leads to increased demand for armaments.
Despite the additional funding promised this week, the UK armed forces still look set to face cutbacks, and maintaining international commitments to AUKUS and GCAP may limit the options for other programmes.
This week on the Shephard Defence Podcast, senior naval reporter Harry Lye and military training & simulation reporter Norbert Neumann chat with Professor John Louth.
Although the Pentagon claims that current systems can detect this type of threat, it has confirmed that measures will be taken in order to maintain the US's edge over its adversaries.
The UK and France aim to deliver a new cruise missile in 2030 as part of the MBDA-led Future Cruise/Anti-Ship Weapon (FC/ASW) project.
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