China Trials Cargo Drones, Air Taxis as Low-altitude Economy Gains Speed

An unmanned cargo aircraft developed by Sichuan Tengden Sci-tech Innovation Co. takes part in a maiden flight at an airport in Zigong, Sichuan province, China August 11, 2024. China Daily via REUTERS
An unmanned cargo aircraft developed by Sichuan Tengden Sci-tech Innovation Co. takes part in a maiden flight at an airport in Zigong, Sichuan province, China August 11, 2024. China Daily via REUTERS
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China Trials Cargo Drones, Air Taxis as Low-altitude Economy Gains Speed

An unmanned cargo aircraft developed by Sichuan Tengden Sci-tech Innovation Co. takes part in a maiden flight at an airport in Zigong, Sichuan province, China August 11, 2024. China Daily via REUTERS
An unmanned cargo aircraft developed by Sichuan Tengden Sci-tech Innovation Co. takes part in a maiden flight at an airport in Zigong, Sichuan province, China August 11, 2024. China Daily via REUTERS

Engineers sent China's biggest-yet cargo drone on a test run over the weekend while a helicopter taxi took to the skies on a soon-to-open 100-km (62-mile) route to Shanghai, laying new milestones for the country's expanding low-altitude economy.
Packing a payload capacity of 2 metric tons, the twin-engine cargo drone developed by state-funded Sichuan Tengden Sci-tech Innovation Co took off in southwestern Sichuan province on Sunday for its inaugural flight that lasted approximately 20 minutes, state media reported.
The Tengden-built drone, with a wingspan of 16.1 m (52.8 ft) and a height of 4.6 m (15 ft), is slightly larger than the world's most popular light aircraft, the four-seat Cessna 172, Reuters said.
Manufacturers in the world's top drone-making nation are testing ever larger payloads while transport companies are planning air taxi services both manned and unmanned as China loosens airspace curbs and grants incentives to build up a low-altitude economy. Its aviation regulator foresees a 2-trillion-yuan ($279-billion) industry by 2030, for a four-fold expansion from 2023.
The Tengden trial run followed the maiden flight in June of a cargo drone developed by state-owned Aviation Industry Corp of China (AVIC), the leading aerospace enterprise.
The AVIC's HH-100 has a payload capacity of 700 kg (1,543 pounds) and a flight radius of 520 km. Next year, AVIC plans to test its biggest cargo drone, the TP2000, which can carry up to 2 tons of cargo and fly four times farther than the HH-100.
China has already begun commercial deliveries by drone.
In May, cargo drone firm Phoenix Wings, part of delivery giant SF Express, started delivering fresh fruit from the island province of Hainan to southern Guangdong using Fengzhou-90 drones developed by SF, a unit of S.F. Holding.
Cargo drones promise shorter delivery times and lower transport costs, Chinese industry insiders say, while widening deliveries to sites lacking conventional aviation facilities, such as rooftop spaces in heavily built-up cities.
They could also ferry people on taxi services.
In April, aviation authorities issued a production certificate to unmanned aerial vehicle (UAV) maker EHang Holdings, based in the southern city of Guangzhou, for its passenger-carrying drone, China's first such certification for an autonomous passenger drone.
In a report this year, the government identified the low-altitude economy as a new growth engine for the first time, with vertical mobility seen as a "new productive force" in areas such as passenger and cargo transport.
On Saturday, a manned commercial passenger helicopter took off for the first time from Kunshun, a city in Jiangsu province, to Shanghai Pudong Airport, state media said.
For one-way fares of up to 1,800 yuan, Shanghai NewSky Heli Co aims to cut travel time between the cities to 20 minutes from several hours. As many as 30,000 passengers a year are forecast to use the route, which opens on Aug. 18.
Shanghai aims to expand low-altitude routes to cover other cities in the Yangtze River delta.



France’s Ubisoft Full-Year Net Bookings Fall 20.5%

A man passes by the main entrance of Ubisoft video firm company where a strike call is planned on February 14, 2024, in Montpellier, south of France, on February 13, 2024. (AFP)
A man passes by the main entrance of Ubisoft video firm company where a strike call is planned on February 14, 2024, in Montpellier, south of France, on February 13, 2024. (AFP)
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France’s Ubisoft Full-Year Net Bookings Fall 20.5%

A man passes by the main entrance of Ubisoft video firm company where a strike call is planned on February 14, 2024, in Montpellier, south of France, on February 13, 2024. (AFP)
A man passes by the main entrance of Ubisoft video firm company where a strike call is planned on February 14, 2024, in Montpellier, south of France, on February 13, 2024. (AFP)

France's largest video game maker Ubisoft on Wednesday posted a 20.5% fall in full-year net bookings as the company has faced issues with delayed releases and the underperformance of some of its leading titles.

The maker of the blockbuster franchise "Assassin's Creed" reported net bookings of 1.85 billion euros ($2.07 billion) for the year to March 31, slightly below its guidance of around 1.9 billion euros.

Ubisoft plans to announce a new overall group organization by the end of the year, with the objective to best serve player needs, deliver superior game quality and drive disciplined capital allocation, it said in a statement.

It expects full-year 2025-2026 stable net bookings year-on-year and roughly break-even non-IFRS operating income. Net bookings for the first quarter are forecast at 310 million euros.

Ubisoft also expects to return to positive non-IFRS operating income and free cash flow generation in 2026-2027, it said.

"After a review of our pipeline, we have decided to provide additional development time to some of our biggest productions to create the best conditions for success," CEO Yves Guillemot said in the statement.

As a result, he said, the next two years would see "significant content coming from our largest brands."

In March, the company faced a make-or-break moment with the launch of the newest instalment in "Assassin's Creed" franchise as the company grappled with falling revenue, a sinking stock price and takeover speculation.

"Aware of the challenges ahead, we took decisive steps to continue strengthening the company's future. The launch of 'Assassin's Creed Shadows' was a defining moment," Guillemot said.

The release had reaffirmed the power of the brand, he added, and had received a "highly favorable community response".

Ubisoft said that the game delivered the second-highest Day 1 sales revenue in franchise history and set a new record for Ubisoft's Day 1 performance on the PlayStation digital store.