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Plus Ultra gets three months to negotiate restructuring as it plans fleet, route and workforce cuts

The Spanish airline has told a court it has begun creditor negotiations and secured three months, extendable by another three, to agree a restructuring plan. The plan would reduce its fleet and destinations and eliminate jobs; a collective redundancy process covers its 679 employees. Plus Ultra owes state holding SEPI €53 million.

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Payload

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Drone makers scale production as UForce raises $700 million, Tekever invests €200 million in France and Powerus reports $130 mil

Ukrainian-founded UForce raised $700 million at a $6 billion valuation to expand production for Ukraine and allied countries. In France, Tekever has begun local AR3 and AR5 production at a new Cahors factory under a seven-year procurement agreement, while U.S. maker Powerus says signed orders have reached $130 million.

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European firms invest in collaborative combat drones as decision-makers hesitate; UK’s CAeS reports fresh losses after UAV pivot

European aerospace companies are committing more funding to test collaborative uncrewed combat aircraft, but political and military decision-makers have yet to match that momentum. UK-based Cranfield Aerospace Solutions, which has pivoted toward its Stingray ST-5 UAV family, disclosed fresh losses in its latest accounts without updating the program’s progress.

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