Republic Airways Holdings has recapitalised Mokulele Airlines by converting $3.0 million of its $8.0 million loan and injecting $3.0 million of cash in exchange for 50% of Mokulele’s common stock.
The move has led to the Indianapolis-based company taking greater control of the Hawaiian carrier. In February Mokulele had trouble meeting payments to Republic Airways’ subsidiary, Shuttle America, which has been operating Embraer 170s for Mokulele since November 2008.
As a result of the recapitalisation, Mokulele’s CEO Bill Boyer has handed over the role to Scott Durgin, Republic’s VP strategic alliances, in order to lead the airline’s sales and marketing team. Durgin will be interim president and CEO.
The DoD has changed its structures and is been increasing efforts to facilitate access to loans by companies interested in working with artificial intelligence, advanced materials and semiconductors, biotechnology and quantum science.
India has approved millions of dollars in new military purchases, most of which will go to public sector companies.
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.
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