Alien: Covenant was the sixth film in the Alien film franchise that started way back in 1979 with the film Alien. There were four films in the original Alien franchise, and then a prequel franchise began with the film Prometheus in 2012. Alien: Covenant was the third film in the entire franchise directed by Ridley Scott. The film received fairly positive reviews from critics, but had an underwhelming box-office run. It grossed $240 million at the global box-office, against a production budget of $100 million. The sequel to Alien: Covenant is expected to complete the Prometheus series and connect with the events of the first Alien film of 1979. This can be inferred from Ridley Scott’s statement in 2017,
“There will be another one before we kind of literally and logically, clockwise, back into the rear back head of [the original] Alien,”

Alien: Covenant 2- What we know so far
We can expect the title for the third prequel film to Alien: Awakening, taking notes from Scott’s statement in 2017, where he wrongfully stated the order of the films in the Prometheus series as “Prometheus, Awakening, Covenant”.
John Logan is reported to have written and completed the script for the film. The film is expected to focus on the Engineers from Prometheus seeking their revenge from the genocidal Android David. The plot is eventually supposed to lead the characters to the planet LV-426, and eventually tie up the events perfectly to return to the beginning of Alien.
With respect to the cast, we can expect Michael Fassbender to return to the film as the Android David, since that character plays an important part in the film. Fassbender also expressed his intent to work with Ridley Scott again.

“I would love to. I absolutely love working with Ridley. That was a real moment for me when I stepped on the set of Prometheus and got to work with him. I love the character. It’s a lot of fun, so I would definitely enjoy that.”
Katherine Waterston can also be expected to be in for Alien: Awakening. Her character Janet Daniels was one of the survivors of Covenant, and the actress has also shown interest to return for the sequel to Covenant.

The film has not yet began production, so there has been no official release date announced. However, it has been confirmed that it will happen, so we can only wait until more Alien: Awakening news comes our way.