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Flight International March 15, 2011
INTRODUCTION:
SECTION: BUSINESS LENGTH: 93 words Download the full report at flightglobal.com/pwc-deals2010 Powering up for tomorrow FEATURE P30 business briefs NASA Dennis Stone/Rex Features British Airline Pilots Association AirTeamImages Quote of the week "I'm waiting with interest for the NAO report on the F-35s they are buying from Lockheed Martin" TOP 10 AEROSPACE AND DEFENCE DEALS 2010 Rex Features EADS chief executive louis gallois responds to suggestions by the UK National Audit Office that the Eurofighter was too expensive | Flight International | 15-21 March 2011 15-21 March 2011 | Flight International | LOAD-DATE: March 15, 2011 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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Copyright 2011 Reed Business Information Ltd. All Rights Reserved
Flight International July 13, 2010
INTRODUCTION:
SECTION: BUSINESS LENGTH: 529 words Business briefs ZODIAC GETS COOKING WITH SELL BUY ACQUISITION Zodiac Aerospace has agreed to acquire German galley manufacturer Sell for undisclosed terms in a move it says will "reinforce" its position in the cabin interiors market, following the acquisition of C&D Aerospace and Driessen Aerospace. Herborn-based Sell, which generated revenues of E179 million ($224 million) last year and employs 1,250 people, ran into supply problems two years ago as it struggled to cope with increased demand, resulting in delays to Boeing 777 deliveries. BABCOCK & BROWN AIR CHANGES NAME TO FLY LEASING Babcock & Brown Air has changed its name to Fly Leasing, following the company's decision to invest $8.75 million in BBAM, a privately held company formed by the former senior executives of Babcock & Brown Aircraft Management. Fly Leasing will continue to trade on the New York Stock Exchange under the ticker symbol "FLY". RECESSION HITS PROFIT AT UK'S NATS AIR TRAFFIC CONTROL UK air navigation service NATS has posted a 30% fall in full-year pre-tax profit, to 101 million ($153 million), owing to recession and higher staff pay and pension costs. NATS says it made 20 million of cost cuts over the year, "most of which are sustainable". The organisation has been partly privatised. SIKORSKY AFTERMARKET BUYS LIFEPORT ACQUISITION Sikorsky Aircraft's Aerospace Services aftermarket division has bought privately held LifePort, a $65 million revenue Washington state-headquartered aircraft accessories manufacturer that specialises in air medical systems, lightweight armour, interior furnishings and Enflite galley equipment, for an undisclosed sum.
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EUROCONTROL TO ASSESS SOLAR-CYCLE IMPACT NAVIGATION Pan-European air navigation organisation Eurocontrol has recruited France's Egis Avia to assess the potential impact of forecast increased solar activity on satellite-based navigation systems. Egis will conduct the study with partners including France's DSNA air navigation service and CNES space agency. AIRBUS ENGINEERING DEAL GOES TO UK PARTNERS LANDING GEAR Airbus has awarded a landing gear engineering and support contract to a partnership of two UK firms, Atkins and Stirling Dynamics, which will deliver technical services such as software modifications and systems integration across landing gear control and monitoring systems for types including the A380 and A350. SPICEJET BOSS QUITS WITH OWNERSHIP CHANGE MANAGEMENT Indian low-cost carrier SpiceJet's chief executive Sanjay Aggarwal has quit, as the airline looks set to be taken over by Indian television network owner Kalanithi Maran. Before joining SpiceJet, Aggarwal was the chief operating and chief strategy officer of US-based fractional ownership operator Flight Options. ARROW AIR SHUTS DOWN, FILES FOR BANKRUPTCY CARGO Arrow Air, the largest all-air cargo carrier based in Miami, Florida, closed its operations on 1 July with $500 million in debt and filed for bankruptcy, leaving 450 employees out of work following months of financial turmoil. The company, which reportedly posted an operating loss of $26 million in 2009 and lost $28 million in 2008, had successfully exited bankruptcy in 2004 through reorganisation. LOAD-DATE: August 9, 2010 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International May 25, 2010
INTRODUCTION:
SECTION: BUSINESS
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LENGTH: 558 words Business briefs ILFC CHARGES TO LOSS ON AIRCRAFT SALES TRADING International Lease Finance posted a $403 million negative swing to a first quarter pre-tax loss of more than $98.6 million as a $435.3 million charge against its recently agreed $2 billion, 53-aircraft sale to Macquarie Group and another deal wiped out a 5% rise to $1.32 billion in rental revenue. ILFC's total cost in flight equipment marketing for the first quarter this year was thus $436.2 million, compared with $6.1 million a year ago. Aggregate net book value of the 53 aircraft in the Macquarie deal stands at $1.9 billion. CIVIL BUSINESS DRAGS DOWN CAE TRAINING Canadian simulators and training services provide CAE saw earnings before interest and taxes dip by a quarter to C$230 million ($220 million) as revenue fell 8% to C$1.53 billion in its full year to 31 March. Military training and simulator sales and profits were up, but on the civil side simulator sales dropped 40% to C$284.1 million and operating profit nearly halved, to C$49.4 million. Chief executive Marc Parent says: "In view of the profound downturn in civil aviation, CAE performed well." CANCELLED DREAMLINERS ARE PEGASUS LEGACY ORDERS Leasing company AWAS is the customer that cancelled six Boeing 787s, Flightglobal's Commercial Aviation Online has learned. Boeing gave notice of the cancellation in its weekly order update on 13 May, but did not identify the customer. Six Rolls-Royce Trent-powered 787s have been on AWAS's books as a result of a legacy order originally placed by Pegasus Aviation Finance in 2006. AWAS took over the order when it acquired Pegasus in 2007 but the six aircraft are the only 787s listed in its portfolio. US ATA ATTACKS PROPOSED UK FLIGHT DUTY TAXES US airlines have expressed strong opposition to a new per-aircraft departure fee being considered in the UK to force carriers to use more fuel-efficient aircraft and operate more efficiently. Calling the proposed tax "unjustified", the Air Transport Association says: "Once again, airlines, their customers and the communities that they serve are at the mercy of political forces beyond their control. Airlines are already incentivised to operate as efficiently as possible by higher fuel prices and inefficient air traffic control systems." BOEING TO SIGN 40-YEAR LEASE ON RENTON AIRPORT MANUFACTURING Boeing is taking a 40-year lease on Seattle area airport Renton Municipal, home to its 737 final assembly line. NORTHSTAR DIPS TO LOSS COMPONENTS Aircraft parts maker Northstar Aerospace posted a 16% rise in first quarter revenue to $52.6 million, but dipped to a $500,000 loss on continuing operations - compared with a $5.2 million profit a year ago - owing to restructuring costs, settlement of an environmental claim and 2009's non-recurring income from sales of inventory and an investment in Vector Aerospace. Defence revenue was up more than one-third to $45.3 million, but commercial sales dipped 30% to $10.3 million, primarily due to timing of revenue. FIRST AVIATION PROFITS IN SHORT YEAR ACCOUNTING Supply chain provider First Aviation Services made a $589 million operating profit in the 11 months to the end of December on revenue of $100.3 million. This compares with a loss of $1.2 million on sales of $114.2 million for the year to 31 January 2009. First Aviation has moved its financial year-end to 31
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December. LOAD-DATE: June 2, 2010 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
PARA:: INTRODUCTION:: PARA::

SECTION: BUSINESS LENGTH: 576 words PARA:: business briefs PARA::ILFC CHARGES TO LOSS ON AIRCRAFT SALES PARA::TRADING International Lease Finance posted a $403 million negative swing to a first quarter pre-tax loss of more than $98.6 million as a $435.3 million charge against its recently agreed $2 billion, 53-aircraft sale to Macquarie Group and another deal wiped out a 5% rise to $1.32 billion in rental revenue. ILFC's total cost in flight equipment marketing for the first quarter this year was thus $436.2 million, compared with $6.1 million a year ago. Aggregate net book value of the 53 aircraft in the Macquarie deal stands at $1.9 billion. PARA::CIVIL BUSINESS DRAGS DOWN CAE PARA::TRAINING Canadian simulators and training services provide CAE saw earnings before interest and taxes dip by a quarter to C$230 million ($220 million) as revenue fell 8% to C$1.53 billion in its full year to 31 March. Military training and simulator sales and profits were up, but on the civil side simulator sales dropped 40% to C$284.1 million and operating profit nearly halved, to C$49.4 million. Chief executive Marc Parent says: "In view of the profound downturn in civil aviation, CAE performed well." PARA::CANCELLED DREAMLINERS ARE PEGASUS LEGACY PARA::ORDERS Leasing company AWAS is the customer that cancelled six Boeing 787s, Flightglobal's Commercial Aviation Online has learned. Boeing gave notice of the cancellation in its weekly order update
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on 13 May, but did not identify the customer. Six Rolls-Royce Trent-powered 787s have been on AWAS's books as a result of a legacy order originally placed by Pegasus Aviation Finance in 2006. AWAS took over the order when it acquired Pegasus in 2007 but the six aircraft are the only 787s listed in its portfolio. PARA::US ATA ATTACKS PROPOSED UK FLIGHT DUTY PARA::TAXES US airlines have expressed strong opposition to a new per-aircraft departure fee being considered in the UK to force carriers to use more fuel-efficient aircraft and operate more efficiently. Calling the proposed tax "unjustified", the Air Transport Association says: "Once again, airlines, their customers and the communities that they serve are at the mercy of political forces beyond their control. Airlines are already incentivised to operate as efficiently as possible by higher fuel prices and inefficient air traffic control systems." PARA::BOEING TO SIGN 40-YEAR LEASE ON RENTON AIRPORT PARA::MANUFACTURING Boeing is taking a 40-year lease on Seattle area airport Renton Municipal, home to its 737 final assembly line. PARA::NORTHSTAR DIPS TO LOSS PARA::COMPONENTS Aircraft parts maker Northstar Aerospace posted a 16% rise in first quarter revenue to $52.6 million, but dipped to a $500,000 loss on continuing operations - compared with a $5.2 million profit a year ago - owing to restructuring costs, settlement of an environmental claim and 2009's non-recurring income from sales of inventory and an investment in Vector Aerospace. Defence revenue was up more than one-third to $45.3 million, but commercial sales dipped 30% to $10.3 million, primarily due to timing of revenue. PARA::FIRST AVIATION PROFITS IN SHORT YEAR PARA::ACCOUNTING Supply chain provider First Aviation Services made a $589 million operating profit in the 11 months to the end of December on revenue of $100.3 million. This compares with a loss of $1.2 million on sales of $114.2 million for the year to 31 January 2009. First Aviation has moved its financial year-end to 31 December. PARA:: PARA:: PARA:: LOAD-DATE: August 24, 2010 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 530 words Business briefs TEN-YEAR DEMAND 2,625 UNITS: EMBRAER REGIONALS Embraer forecasts demand for 30- to 120-seat aircraft at 2,625 units up to 2019, including 1,550 with 91-120 seats, 1,015 with 61-90 seats and just 60 with 30-60 seats. Separately, the Brazilian airframer will decide by August whether or not to close its Chinese plant. Harbin Embraer will deliver its last ERJ-145 in the first half of 2011, but Embraer is having difficulty obtaining requisite licences from the Chinese government to transition to assembly of the 190, which would compete with China's Comac ARJ21. KUWAIT AIRWAYS HAS IRAQI ASSETS IN SIGHTS DISPUTE Lawyers acting for Kuwait Airways have secured an undertaking that Iraqi Airways will shortly provide details of its global assets. Kuwait Airways has been fighting for compensation for aircraft lost when Iraq invaded Kuwait in 1990. Iraqi Airways' chief executive Kifah Hassan Jabbar was served with a travel ban on arrival in London in April to extract an asset disclosure through UK courts. AIRCELL EYES EVENTUAL IPO CONNECTIVITY Aircell is increasingly confident that an initial public offering of shares is in its future. The Chicago-based provider of Gogo air-to-ground and Inmarsat SwiftBroadband-supported services has no current IPO plans but says "it's a real possibility someday for our exciting, high-growth business". LOST COLUMBUS DENTS VOUGHT RISE AEROSTRUCTURES Rising Boeing 747-8 income helped lift first quarter revenue and pre-tax profits by a fifth to $470.5 million and $26.8 million respectively at Dallas-headquarters aerostructures maker Vought Aircraft Industries. Business jet revenue decreased 10% primarily due to the absence of sales of the large-cabin Citation Columbus programme, which Cessna cancelled last year. NORTHROP, RUAG GRAB TIGER'S TAIL FIGHTERS Northrop Grumman and Switzerland's Ruag Aviation have teamed up to provide aftermarket support, modifications and upgrades for countries flying Northrop F-5 Tigers. Ruag is already prime support provider for F-5 operators including Switzerland. CARGO LESSOR LIKES 767 MARKET FREIGHT Cargo Aircraft Management, the aircraft leasing operation of Air Transport Services Group, posted a 37.7% rise in first quarter pre-tax earnings, to $6.5 million on revenue up 36.8% to $17.8 million. CAM, which as of 31 March had 45 aircraft under lease, says it expects to expand its Boeing 767 freighter fleet
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from seven to 13. A-10, PENGUIN LIFT FOR CPI AEROSTRUCTURES First quarter revenue rose 14% to more than $11 million and pre-tax profits were up 58% to $1.3 million for CPI Aerostructures on the back of work for the Boeing A-10 attack jet and Sikorsky Penguin missile launcher programmes, offset by a "normal programme cycle" Gulfstream G650 executive jet decrease. GE REMAKES WALTER ENGINES IN ITS NAME TURBOPROPS GE has renamed its Czech operation as GE Aviation's Business & General Aviation Turboprops, reflecting its plan to turn the former Walter Engines, which it bought in 2008, into the centrepiece of a bid to dramatically increase its share of the business and general aviation market. The unit is working towards third quarter European approval of its Walter M601-based H80. LOAD-DATE: May 27, 2010 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine

SECTION: BUSINESS LENGTH: 549 words PARA:: business briefs PARA::TEN-YEAR DEMAND 2,625 UNITS: EMBRAER PARA::REGIONALS Embraer forecasts demand for 30- to 120-seat aircraft at 2,625 units up to 2019, including 1,550 with 91-120 seats, 1,015 with 61-90 seats and just 60 with 30-60 seats. Separately, the Brazilian airframer will decide by August whether or not to close its Chinese plant. Harbin Embraer will deliver its last ERJ-145 in the first half of 2011, but Embraer is having difficulty obtaining requisite licences
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from the Chinese government to transition to assembly of the 190, which would compete with China's Comac ARJ21. PARA::KUWAIT AIRWAYS HAS IRAQI ASSETS IN SIGHTS PARA::DISPUTE Lawyers acting for Kuwait Airways have secured an undertaking that Iraqi Airways will shortly provide details of its global assets. Kuwait Airways has been fighting for compensation for aircraft lost when Iraq invaded Kuwait in 1990. Iraqi Airways' chief executive Kifah Hassan Jabbar was served with a travel ban on arrival in London in April to extract an asset disclosure through UK courts. PARA::AIRCELL EYES EVENTUAL IPO PARA::CONNECTIVITY Aircell is increasingly confident that an initial public offering of shares is in its future. The Chicago-based provider of Gogo air-to-ground and Inmarsat SwiftBroadband-supported services has no current IPO plans but says "it's a real possibility someday for our exciting, high-growth business". PARA::LOST COLUMBUS DENTS VOUGHT RISE PARA::AEROSTRUCTURES Rising Boeing 747-8 income helped lift first quarter revenue and pre-tax profits by a fifth to $470.5 million and $26.8 million respectively at Dallas-headquarters aerostructures maker Vought Aircraft Industries. Business jet revenue decreased 10% primarily due to the absence of sales of the large-cabin Citation Columbus programme, which Cessna cancelled last year. PARA::NORTHROP, RUAG GRAB TIGER'S TAIL PARA::FIGHTERS Northrop Grumman and Switzerland's Ruag Aviation have teamed up to provide aftermarket support, modifications and upgrades for countries flying Northrop F-5 Tigers. Ruag is already prime support provider for F-5 operators including Switzerland. PARA::CARGO LESSOR LIKES 767 MARKET PARA::FREIGHT Cargo Aircraft Management, the aircraft leasing operation of Air Transport Services Group, posted a 37.7% rise in first quarter pre-tax earnings, to $6.5 million on revenue up 36.8% to $17.8 million. CAM, which as of 31 March had 45 aircraft under lease, says it expects to expand its Boeing 767 freighter fleet from seven to 13. PARA::A-10, PENGUIN LIFT FOR CPI PARA::AEROSTRUCTURES First quarter revenue rose 14% to more than $11 million and pre-tax profits were up 58% to $1.3 million for CPI Aerostructures on the back of work for the Boeing A-10 attack jet and Sikorsky Penguin missile launcher programmes, offset by a "normal programme cycle" Gulfstream G650 executive jet decrease. PARA::GE REMAKES WALTER ENGINES IN ITS NAME PARA::TURBOPROPS GE has renamed its Czech operation as GE Aviation's Business & General Aviation Turboprops, reflecting its plan to turn the former Walter Engines, which it bought in 2008, into the centrepiece of a bid to dramatically increase its share of the business and general aviation market. The unit is working towards third quarter European approval of its Walter M601-based H80. PARA:: PARA:: LOAD-DATE: August 24, 2010 LANGUAGE: ENGLISH
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PUBLICATION-TYPE: Magazine
INTRODUCTION:
SECTION: BUSINESS LENGTH: 505 words Business briefs LEASE RATES STABILISING: UBS FORECAST Widebody and narrowbody lease rates are stabilising compared with six months ago due to improving aviation market conditions, says UBS, with Boeing 737-700 rates up 3%. However, according to UBS, models it tracks are still down 15-20% from peak levels. Lease rates are seen as a leading indicator for new aircraft orders. UBS notes that during the previous two cycles lease rates improved a year before orders recovered. MOOG UP ON GE ACQUISITION CONTROLS The acquisition of General Electric's actuations systems business in Wolverhampton, UK, was a main driver of the 12% sales growth to $1.01 billion notched up in the half year to 3 April at control systems maker Moog. Pre-tax profits dipped 11% to $65 million. BOEING STRIKE LIFTS SPIRIT CONTRACTORS At Spirit AeroSystems, first quarter revenue was up 18% to $1.04 billion, thanks to the 2008 Boeing machinists' strike, which hit sales in the quarter last year. Operating performance and rising interest costs pushed net income down 11% to $56 million. EUROFIGHTER SOARS AT FINMECCANICA MANUFACTURING At Finmeccanica, aeronautics revenue rose 7% in the first quarter to E592 million ($767 million), while EBITA jumped 55% to E34 million, thanks largely to the Eurofighter programme. AgustaWestland division revenues climbed 11% to E837 million and EBITA edged up 1% to E75 million. SEAT MAKERS BENEFIT FROM KOITO DEBACLE
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INTERIORS Aircraft seat makers Zodiac and B/E Aerospace claim to be absorbing programmes that cannot be supported by embattled Japanese firm Koito Industries, which recently admitted to fabricating safety test results on as many as 150,000 seats worldwide. Recaro Aircraft Seating is also understood to be winning orders. Business jets, defence REVERSE EMBRAER LOSS AIRFRAMERS Embraer's first quarter sales dipped 14% to $1.15 billion as airliner deliveries dropped to 21 units from 32 a year ago. However, rising business jet and defence sales helped turn a $23.4 million first quarter 2009 loss into a profit of $35.3 million. DUCOMMUN RECOVERS FROM ECLIPSE CHARGE ENGINEERING Los Angeles aerospace and defence engineering company Ducommun recorded a 6% fall in first quarter sales to $104.3 million, although net income increased nearly two-thirds to $4.2 million. The company had suffered a first quarter 2009 after-tax charge of $2.9 million related to the Eclipse Aviation bankruptcy. LUFTHANSA POSTS HEAVY FIRST-QUARTER LOSS AIRLINES German flag carrier Lufthansa made an operating loss of E330 million ($432 million) for the first quarter, a hefty decline on the E44 million deficit in 2009, although revenues rose by 16% to E5.8 billion. Lufthansa is attributing the performance to the first-time consolidation of BMI and Austrian Airlines and a pilots' strike. BOEING CARVES OUT TANKER DIVISION DEFENCE Boeing is to form an airlift and tankers division within its military aircraft business unit to assume responsibility for the C-17 Globemaster III and international and US tanker programmes. See Feature P28 LOAD-DATE: May 22, 2010 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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SECTION: BUSINESS LENGTH: 527 words PARA:: business briefs PARA::LEASE RATES STABILISING: UBS PARA::FORECAST Widebody and narrowbody lease rates are stabilising compared with six months ago due to improving aviation market conditions, says UBS, with Boeing 737-700 rates up 3%. However, according to UBS, models it tracks are still down 15-20% from peak levels. Lease rates are seen as a leading indicator for new aircraft orders. UBS notes that during the previous two cycles lease rates improved a year before orders recovered. PARA::MOOG UP ON GE ACQUISITION PARA::CONTROLS The acquisition of General Electric's actuations systems business in Wolverhampton, UK, was a main driver of the 12% sales growth to $1.01 billion notched up in the half year to 3 April at control systems maker Moog. Pre-tax profits dipped 11% to $65 million. PARA::BOEING STRIKE LIFTS SPIRIT PARA::CONTRACTORS At Spirit AeroSystems, first quarter revenue was up 18% to $1.04 billion, thanks to the 2008 Boeing machinists' strike, which hit sales in the quarter last year. Operating performance and rising interest costs pushed net income down 11% to $56 million. PARA::EUROFIGHTER SOARS AT FINMECCANICA PARA::MANUFACTURING At Finmeccanica, aeronautics revenue rose 7% in the first quarter to 592 million ($767 million), while EBITA jumped 55% to 34 million, thanks largely to the Eurofighter programme. AgustaWestland division revenues climbed 11% to 837 million and EBITA edged up 1% to 75 million. PARA::SEAT MAKERS BENEFIT FROM KOITO DEBACLE PARA::INTERIORS Aircraft seat makers Zodiac and B/E Aerospace claim to be absorbing programmes that cannot be supported by embattled Japanese firm Koito Industries, which recently admitted to fabricating safety test results on as many as 150,000 seats worldwide. Recaro Aircraft Seating is also understood to be winning orders. PARA::Business jets, defence REVERSE EMBRAER LOSS PARA::AIRFRAMERS Embraer's first quarter sales dipped 14% to $1.15 billion as airliner deliveries dropped to 21 units from 32 a year ago. However, rising business jet and defence sales helped turn a $23.4 million first quarter 2009 loss into a profit of $35.3 million. PARA::DUCOMMUN RECOVERS FROM ECLIPSE CHARGE PARA::ENGINEERING Los Angeles aerospace and defence engineering company Ducommun recorded a 6% fall in first quarter sales to $104.3 million, although net income increased nearly two-thirds to $4.2 million. The company had suffered a first quarter 2009 after-tax charge of $2.9 million related to the Eclipse Aviation bankruptcy. PARA::LUFTHANSA POSTS HEAVY FIRST-QUARTER LOSS
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PARA::AIRLINES German flag carrier Lufthansa made an operating loss of 330 million ($432 million) for the first quarter, a hefty decline on the 44 million deficit in 2009, although revenues rose by 16% to 5.8 billion. Lufthansa is attributing the performance to the first-time consolidation of BMI and Austrian Airlines and a pilots' strike. PARA::BOEING CARVES OUT TANKER DIVISION PARA::DEFENCE Boeing is to form an airlift and tankers division within its military aircraft business unit to assume responsibility for the C-17 Globemaster III and international and US tanker programmes. PARA::See Feature P28 PARA:: PARA:: LOAD-DATE: August 24, 2010 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International November 10, 2009
INTRODUCTION:
SECTION: BUSINESS LENGTH: 543 words Business briefs BELFAST GEARS UP FOR CSERIES WING PRODUCTION AIRLINERS Construction of Bombardier's CSeries wing factory in Belfast is now underway, and plans are in place for the airframer to add 800 jobs at peak production to the 270 engineering and support staff currently engaged in research and development of the wings. CSeries investment in Belfast will total ?520 million ($860 million), which Bombardier claims is the largest-ever single inward investment in Northern Ireland.
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F-15 DISPLAYS HELP ROCKWELL COLLINS RESULTS Growth in government business partly offset falling commercial markets, leaving Rockwell Collins' sales down 6% to $4.47 billion and pre-tax profits down 9% to $867 million for the year to 30 September. Commercial Systems sales dropped 21% to $1.89 billion, whereas the Airborne Systems unit was up 6% at $1.76 billion, with help from higher sales of head-down displays for Boeing F-15s and unmanned air vehicle control systems. DUCOMMUN GETS THIRD-QUARTER MILITARY BOOST ENGINEERING Sales to military programmes such as the Northrop Grumman X-47B UCAS and the Boeing C-17 helped Ducommun post a 2.7% rise in third-quarter pre-tax profits to $9.24 million on sales up 9% to $109.9 million. For the nine months to 3 October, the Los Angeles engineering company saw profits fall 2.5% to just short of $20 million as sales rose 7.6% to $325.1 million. CIT AEROSPACE PARENT FILES FOR CHAPTER 11 LEASING CIT Group, parent of lessor CIT Aerospace, has filed a pre-packaged Chapter 11 bankruptcy protection, with hopes to emerge by the end of the year. Separately, Carl Icahn and Icahn Capital have agreed to support CIT's restructuring with an incremental $1 billion committed line of credit. CIT Aerospace has 332 aircraft under various leases and, as of 30 September, had 107 aircraft on order. HYDERABAD TO GET CFM56 TRAINING CENTRE PROPULSION GMR Hyderabad International airport and CFM International will establish a CFM56 training centre to support the engine's users in south Asia. The training centre will begin operations by late January 2010 and be located in the aviation special economic zone at Hyderabad's Rajiv Gandhi International airport. SIA ENGINEERING SEES SOME RECOVERY IN Q2 MAINTENANCE SIA Engineering's net profit fell 16.8% year-on-year to S$61.1 million ($43.6 million) on revenue down 11.2% to S$248 million in the second quarter ending 30 September. The maintenance arm of Singapore Airlines says: "In tandem with the airline industry's early signs of recovery, the group posted a better performance in the second quarter compared to the first quarter. However, the prospects for a sustained recovery remain uncertain." AERO INVENTORY: TROUBLES BROADEN ACCOUNTING Parts management firm Aero Inventory says the inventory valuation issue that led to the suspension of its London share trading last month is "broader than first thought", involving both accounting book value of parts and physical quantities. The board is reviewing the accuracy of recent financial reports and the positions of chief executive Rupert Lewin, finance director Hugh Bevan and chief operating officer Martin Dodge. Business development director Colin Trupp is now acting chief executive and Swag Mukerji is responsible for financial operations. LOAD-DATE: November 9, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 503 words Business briefs USA QUESTIONS CHINA'S AIR TRANSPORT FUNDING STATE AID At the World Trade Organisation, the USA has queried state subsidies to Chinese industry programmes, including development of the AVIC ARJ21 and Comac C919 regional jets. The USA considers subsidies administered by provincial and local authorities in China to be a "significant problem". MTU RAISES FULL-YEAR EARNINGS FORECAST PROPULSION MTU Aero Engines has raised its full-year earnings forecast by ?10 million ($14.8 million), to ?290 million, and expects revenues to reach ?2.6 billion, against original forecasts of ?2.8 billion. Nine-month operating profits were down 12% at ?211 million and revenue was down slightly at ?1.95 billion. Us government credit pays off ilfc debt FINANCE Leasing giantInternational Lease Finance repaid $2 billion in debt due inOctober as its government-owned parent, the troubled insurer AIG, dipped into its revolving credit with the US Federal Reserve to make the repayment. ILFC has been for sale since last year as AIG seeks cash to repay US Treasury bailout funds. HAL TO MANUFACTURE BOEING 777 FLAPERONS OUTSOURCING Boeing has contracted India's Hindustan Aeronautics to manufacture the composite flaperons for 777s. HAL will manufacture the parts in Bangalore andsays deliveries will be made in phases "beginning in the next couple of years". SAAB EYES FULL-YEAR SALES RISE RESULTS Saab is forecasting full-year sales growth of 5%, after reporting an 8% rise in sales to SKr 16.9 billion ($2.4 billion) for the nine months to the end of September, during which operating income dropped nearly 11% to SKr 871 million. The company cited a steady inflow of small and medium-sized orders during the period. MILITARY OFFSETS COMMERCIAL DECLINE
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FINANCE Lower volumes in commercial aerospace at Honeywell were partially offset by higher military sales to leave nine-month pre-tax profits down 17% at less than $1.4 billion on sales down 14% to 48.1 billion in the company's aerospace segment. PROFITSUPBUTBACKLOGDOWNATBELL ROTORCRAFT Textron's Bell helicopter business recorded a 25% rise in third quarter profits to $79 million despite an 11% drop in sales to $628 million, thanks in part to lower costs, a gain from the termination of a foreign exchange hedge contract and price rises. Backlog at the end of the quarter was $5.6 billion, down $250 million from the end of the previous quarter. B/E AEROSPACE 'PASSES TROUGH' INTERIORS Third quarter revenue at aircraft interiors firm B/E Aerospace was down 26.9% to $459.8 million and operating profit fell 32.5% to $69.6 million, but chief executive Amin Khoury says the quarter was probably the trough for orders and backlog; he expects a "substantial increase in both revenues and earnings in 2011". AERO INVENTORY HALTS TRADING ACCOUNTING Parts management firm Aero Inventory has suspended share trading on London's Alternative Investment Market. The company suspects neither fraud nor theft, but believes a parts valuation issue "may have a material effect" on its accounts. LOAD-DATE: November 6, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International October 27, 2009
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Business briefs ENGINES OUTPERFORM LEASING AT GE RESULTS Engine maker GE Aviation reported a slight dip in nine-month revenue, to just below $14 million for the period to the end of September, but profits were up 18% to $2.87 billion. At sister company GECAS, the world's largest civil aircraft lessor by fleet size, profits fell 22% to $746 million for the nine-month period, including a 33% drop in the third quarter. GECAS's total assets were up 1% to $50 billion, but its aircraft leasing assets have yet to be disclosed. ECA CNAI WINS A350 TOOLING CONTRACT COMPOSITES Aeronautics industrial engineering company ECA CNAi has secured a contract for the supply of Airbus A350 XWB production tools for the aircraft's keel beam, a composite structure designed to strengthen the central fuselage. The company, based in Toulouse, is a subsidiary of civil and defence supplier ECA. VOLUMES TO STAY UNDER PRESSURE: EATON MANUFACTURING Eaton, the Cleveland-based manufacturer, saw aerospace segment operating profits fall 23% to $61 million as revenue declined 16% to $394 million. Chief executive Alexander Cutler estimates aerospace markets were down 14% for the quarter - 11% in the USA and 19% elsewhere. "We anticipate that volumes are likely to remain under pressure in the fourth quarter," he says. BOEING DEBT OUTLOOK TURNS NEGATIVE: MOODY'S FINANCE Moody's has affirmed its A2 long-term and P-1 short-term debt ratings for Boeing and its Boeing Capital aircraft leasing subsidiary, but changed the rating outlook to negative from stable owing to "negative developments" that have weakened Boeing's financial flexibility. The rating agency notes that airlines and leasing companies continue to be strained so production cuts could follow. Moody's estimates that a 20% cut in production could lower operating profits by around $1 billion a year. SPAIN APPROVES LOAN TO XWB SUPPLIERS STATE AID The Spanish government has approved a ?359 million ($535 million) loan in the period 2010-14 to Spanish companies involved in the Airbus A350 XWB programme. Spain's workshare on the programme is 11%. Companies will be able to apply for up to 40% of their experimental development costs and up to 60% of their industrial research costs. Repayment terms, according to the government, will "depend on the outcome of the [A350] project". AEROMECHANICAL TO ACQUIRE WINGSPEED BANKRUPTCY A US bankruptcy court has approved a bid by AeroMechancial Services to acquire the assets of Wingspeed for $250,000. Concord, Massachusetts-based Wingspeed, which developed and marketed Iridium and Internet voice, data and aircraft messaging services, was placed into Chapter 7 liquidation in August. REVENUE STILL ON THE WAY DOWN FOR US CARRIERS AIRLINES US airlines in September continued to see significant revenue declines as their pricing power remains weak, according to an Air Transport Association of America survey. ATA estimates a 19% year-on-year drop in passenger revenues for September, the eleventh consecutive month that passenger revenues declined from the previous year, and the tenth consecutive month of ticket price declines. ATA's latest cargo indicators show a 12% decline in cargo revenue tonnekilometres in August, the thirteenth consecutive month of falling volumes. LOAD-DATE: November 6, 2009
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LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International September 22, 2009
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SECTION: BUSINESS LENGTH: 546 words Business briefs 787 DELAY TO HIT LATECOERE FULL-YEAR TURNOVER SUPPLIERS French aerospace supplier Lat?co?re has posted half-year net profit up 14.1% to ?9.7 million ($14.3 million). In spite of the positive news, Lat?co?re expects a 25% drop in 2009 turnover due to delays in Boeing's 787 programme and issues of delivery pace with other aircraft manufacturers. First half turnover fell 19.7% to ?238.6 million. BRUSSELS CLEARS RESEARCH LOAN TO GKN STATE AID European Commission regulators have approved ?60 million ($99 million) in UK government aid to GKN to support aircraft wing component research. The aid is in the form of a repayable loan, to be reimbursed with interest through a levy on future sales. European competition commissioner Neelie Kroes says the aid is the minimum necessary and has only a minor impact on competition. IATA BALLOONS LOSS FORECAST TO $11 BILLION AIRLINES Already battered airlines are projected to lose $11 billion in 2009, $2 billion more than the International Air Transport Association's earlier loss forecast. European airlines are bracing for the largest losses of $3.8 billion while IATA's projections show Asia-Pacific airlines losing $3.3 billion. In Latin America, carriers should break even as its residents have less of consumer debt headwind than North America. Loss projections for Middle Eastern carriers are cut from $1.5 billion to $0.5 billion, while expected losses of $500 million in Africa remain unchanged. BOEING CHARLESTON MACHINISTS REJECT UNION
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LABOUR Machinists at Boeing's newly acquired Charleston facility in South Carolina have voted against continued representation by the International Association of Machinists and Aerospace Workers. The IAM, which represents the company's more than 25,000 machinists and aerospace workers, went on strike halting production in Boeing's commercial aircraft factories for 57 days during September and October of 2008. Boeing welcomed the preliminary vote, that must be certified by the National Labor Relations Board. FASTENER DISTRIBUTOR GETS LOCK ON EUROPE ACQUISTION Aerospace and industrial fastener distributor Interfast has purchased certain assets of UK-based Burwood Fastener Products and launched a new European division that will operate under the name Interfast Europe, with David Proctor as general manager and Howard Gerstein as director of sales and marketing. No changes to existing staff are anticipated. Interfast now has nine stocking locations across North America and Europe. AERCAP 'IN MERGER TALKS' WITH GENESIS LEASE LEASING Irish lessor Genesis Lease is in talks with another party, understood to be the much larger AerCap, regarding a possible merger. Genesis, which manages 55 aircraft, has only confirmed that it is in talks over a potential merger. AerCap has not commented. signs point down at Zodiac RESULTS Improvement in the dollar-euro exchange rate and consolidation of acquired companies helped Zodiac Aerospace post a 9.4%rise in sales for its year to 31 August to ?2.2 billion ($3.2 billion), but the company says like-for-like sales were down 5.4%and full-year profit growth will fall short of previous forecasts. Revenue was hit by "significant" levels of destocking linked to falling aircraft production rates and Boeing 787 and Airbus A380 delays. LOAD-DATE: September 28, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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LENGTH: 546 words Business briefs 787 DELAY TO HIT LATECOERE FULL-YEAR TURNOVER SUPPLIERS French aerospace supplier Lat?co?re has posted half-year net profit up 14.1% to ?9.7 million ($14.3 million). In spite of the positive news, Lat?co?re expects a 25% drop in 2009 turnover due to delays in Boeing's 787 programme and issues of delivery pace with other aircraft manufacturers. First half turnover fell 19.7% to ?238.6 million. BRUSSELS CLEARS RESEARCH LOAN TO GKN STATE AID European Commission regulators have approved ?60 million ($99 million) in UK government aid to GKN to support aircraft wing component research. The aid is in the form of a repayable loan, to be reimbursed with interest through a levy on future sales. European competition commissioner Neelie Kroes says the aid is the minimum necessary and has only a minor impact on competition. IATA BALLOONS LOSS FORECAST TO $11 BILLION AIRLINES Already battered airlines are projected to lose $11 billion in 2009, $2 billion more than the International Air Transport Association's earlier loss forecast. European airlines are bracing for the largest losses of $3.8 billion while IATA's projections show Asia-Pacific airlines losing $3.3 billion. In Latin America, carriers should break even as its residents have less of consumer debt headwind than North America. Loss projections for Middle Eastern carriers are cut from $1.5 billion to $0.5 billion, while expected losses of $500 million in Africa remain unchanged. BOEING CHARLESTON MACHINISTS REJECT UNION LABOUR Machinists at Boeing's newly acquired Charleston facility in South Carolina have voted against continued representation by the International Association of Machinists and Aerospace Workers. The IAM, which represents the company's more than 25,000 machinists and aerospace workers, went on strike halting production in Boeing's commercial aircraft factories for 57 days during September and October of 2008. Boeing welcomed the preliminary vote, that must be certified by the National Labor Relations Board. FASTENER DISTRIBUTOR GETS LOCK ON EUROPE ACQUISTION Aerospace and industrial fastener distributor Interfast has purchased certain assets of UK-based Burwood Fastener Products and launched a new European division that will operate under the name Interfast Europe, with David Proctor as general manager and Howard Gerstein as director of sales and marketing. No changes to existing staff are anticipated. Interfast now has nine stocking locations across North America and Europe. AERCAP 'IN MERGER TALKS' WITH GENESIS LEASE LEASING Irish lessor Genesis Lease is in talks with another party, understood to be the much larger AerCap, regarding a possible merger. Genesis, which manages 55 aircraft, has only confirmed that it is in talks over a potential merger. AerCap has not commented. signs point down at Zodiac RESULTS Improvement in the dollar-euro exchange rate and consolidation of acquired companies helped Zodiac Aerospace post a 9.4%rise in sales for its year to 31 August to ?2.2 billion ($3.2 billion), but the company says like-for-like sales were down 5.4%and full-year profit growth will fall short of previous forecasts. Revenue was hit by "significant" levels of destocking linked to falling aircraft production rates and Boeing 787 and Airbus A380 delays.
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LOAD-DATE: September 28, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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SECTION: BUSINESS LENGTH: 532 words Business briefs HAZY BID MAY SPLIT ILFC LEASING International Lease Finance chief Steven Udvar-Hazy is in early discussions to purchase about $2 billion of the lessor's portfolio of nearly 1,000 aircraft and use it to start a rival business, according to a Wall Street Journal report. ILFC's parent, the insurance giant AIG, has been trying to sell the lessor for a year to raise cash to repay US government bailout aid, but wants to hold out for a better price than the $4 billion it is thought to have been offered. Some estimates value the business at between $5 billion and $10 billion. VODOCHODY RESHUFFLE HIGHLIGHTS STRATEGY MANAGEMENT Aero Vodochody has replaced president Igor Hulak with strategic vice-president Ladislav Simek as part of a management reshuffle to focus on aerostructures development. The Czech manufacturer is involved in subassembly and component work on programmes including the Airbus A320, Bombardier CSeries and Embraer 170/190. AIRLINE FIRST-HALF LOSSES EXCEED BN$6 AIR TRANSPORT Airline net losses exceeded $6 billion during the first half of 2009, according to an International Air Transport Association sample of 54 carriers. Losses reached $2 billion during the second quarter, when airlines typically make 50% of their yearly profits, following net losses of $4 billion in the first quarter.
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CONTINENTAL MOVES TOWARDS CASHLESS CABINS RETAILING Following a trial that ran through the summer, Continental Airlines is likely to become the latest carrier to transition to a cashless cabin, following American Airlines and United Airlines in moving toward credit and debit card-only cabins in most markets. LUFTHANSA CLEARED FOR AUSTRIAN TAKEOVER AIRLINES The European Commission has conditionally cleared Lufthansa's proposed takeover of Austrian Airlines and has approved a ?500 million ($718 million) state aid restructuring package for the carrier. Lufthansa, which answered some EC competition concerns by offering slots on Vienna routes to new or existing rivals, expects integration will take place from September. SPACE AND DEFENCE FILLRUAG COFFERS TECHNOLOGY Swiss technology group Ruagdescribesas "solid overall"a 10%first-half sales increase toSFr790 million ($740 million) and a 40%earnings before interest and taxes decline to SFr20.1 million, with space and defence businesses performingwell, but civil aerostructures and business jet maintenance struggling. Much of the sales growth stemmed from Ruag's acquisition of SaabSpace. CIVIL MARKETS, MILITARY CONTRACT HIT ASTRONICS ELECTRONICS US lighting and electronics firm Astronics lowered its full-year revenue expectations to between $190 million and $200 million from earlier guidance of between $200 million and $210 million, citing loss of a US military radio contract it had expected to win and continued weakness in air transport and business jet markets. AMECO BEIJING OPENING 747 HANGAR NEXT MONTH MAINTENANCE Air China-Lufthansa maintenancejoint venture Ameco Beijingwill in Octoberopen its much-awaited Boeing 747 hangar. The firm had planned to open the 270 million yuan ($40 million) hangar in 2008's fourth quarter, but the government ordered work stopped in the run-up to last year's Beijing Olympics. LOAD-DATE: September 17, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International August 25, 2009
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 544 words Business briefs HAMPSON SELLS MACHINING BUSINESS MANUFACTURING Hampson Industries has sold its UK aerospace machining business to Darwin Private Equity for ?23.7 million ($38.8 million) in cash, leaving the group with about 60% of its revenue coming from aerospace tooling sales. The group will also focus on developing advanced composite components. Chief executive Kim Ward said the demand by large aerospace programmes for high-value tooling points to strong revenue growth during the second half of this year and into 2010-11. The divested business, which employs 300 people at sites at Alcester, Birmingham and Leicester to make turbine engine components, made a pre-tax profit ?2.3 million on revenues of ?28.3 million in the financial year to end March. AIR FRANCE CHECKS CZECH BID PRIVATISATION Air France-KLM has pulled out of the privatisation process for Czech Airlines, citing difficulties posed by the economic environment. The carrier, which still wants to "strengthen" its existing SkyTeam alliance relationship with Czech Airlines with unspecified "new areas of co-operation", had been shortlisted by the Czech government. Czech Airlines recently said it would seek a possible 860 redundancies as part of a restructuring plan that also involves a 10% reduction in its 50-strong fleet. REPUBLIC PREVAILS IN FRONTIER BATTLE BANKRUPTCY Republic Airways' $108 million bid has won the battle to acquire Frontier Airlines, after Republic agreed to waive the distributions in the $150 million unsecured claim it logged under Frontier's Chapter 11 restructuring. Southwest Airlines had submitted a $170 million bid. Republic and Frontier had an Embraer 170 feeder agreement that terminated once Frontier declared Chapter 11 bankruptcy protection in April 2008, and Republic is one of Frontier's largest unsecured creditors. Republic has also supplied Frontier $40 million in debtor-in-possession financing. PZL SWIDNIK SOLD TO AGUSTAWESTLAND ROTORCRAFT AgustaWestland has beaten rival Aero Vodochody of the Czech Republic to purchase 87.6% of Polish helicopter and aerostructures maker PZL Swidnik from the Polish government for 329 million zlotys ($112.6 million), adding to the 6.2% it already owns. The acquisition is subject to antitrust approval and is expected to be completed by year-end. Pier Francesco Guarguaglini, chief executive of AgustaWestland parent Finmeccanica, says the deal opens access to new markets and fits because PZL's products are "highly complementary". AIR CHINA TAKES CATHAY STAKE TOWARD 30% AIRLINES Air China is to take its stake in Hong Kong-based Cathay Pacific Airways to just under 30% with a $6HK.33 billion ($817 million) acquisition of a 12.5% share from Citic Pacific, which is focusing on its core business and is selling another 2% to major Cathay Pacific stakeholder Swire Group. Air China and Cathay Pacific describe the changes as a "realignment" of their respective interests and a platform for further co-operation. UNITED AIRCRAFT CORRECTION In "United stance" (Flight International, 11-17 August) we inadvertently attributed a quote
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from an anonymous Russian aerospace executive criticising the United Aircraft organisation to Alexey Fedorov, United Aircraft chairman and president, who clearly does not share that view. LOAD-DATE: August 25, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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SECTION: BUSINESS LENGTH: 509 words Business briefs UNITED AIRCRAFT TO FUND AN-148 PRODUCTION AIRLINERS Russia's United Aircraft is to invest Rb5 billion ($160 million) in affiliated airframer VASO to support manufacture of Antonov An-148 regional jets. VASO needs to achieve an estimated annual output of at least 24 aircraft, and supply between 200 and 250 An-148s, to recoup project costs, but UAC believes there is a potential for selling twice as many if the twinjet receives international certification and is fitted with Western engines. See Feature P28 SAFRAN 'SATISFACTORY' DESPITE CFM56 DIP PROPULSION Safran Group recorded a 6.8% fall in first-half aerospace propulsion operating profit, to ?259 million ($365 million). Total sales for the segment were down 2.8% as CFM56 engine deliveries slid by 86 units to 597 and maintenance shop visits dropped by almost 7%. Safran describes the result as "satisfactory" and notes that the service business appears solid, as second-generation engines, which generate higher service revenue, now account for more than half the delivered CFM56 fleet. HAL WINS FOLLOW-ON AIRBUS DOOR ORDER
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AEROSTRUCTURES Bangalore-based Hindustan Aeronautics has signed a follow-on contract with Airbus to supply 2,000 forward passenger doors for a variety of aircraft types. The deal follows an order for 1,460 shipsets to be completed by January 2010. TWO OFFERS FOR ALITALIA MAINTENANCE DIVISIONS PRIVATISATION Two firm offers have been received by unidentified investors to acquire stakes in the former Alitalia servicing operations Atitech and Alitalia Maintenance Systems. The administrator for the companies had been tasked with securing buyers for the Alitalia Servizi divisions by the end of this month. Both offers are conditional on "successful" consultation with trade unions. ISRAEL AEROSPACE SETS SIGHTS ON BRAZIL JOINT VENTURE Israel Aerospace Industries is bullish about its military and civil prospects in Brazil through its EAE joint venture with Brazil's Synergy. EAE was established in March to supply unmanned air vehicles and other advanced systems and is already evaluating some "major programmes", according to an IAI source. MILITARY SALES KEEP MEGGITT GROWING MANUFACTURING Aerospace equipment, sensing and defence systems maker Meggitt posted a 32% rise in first-half pre-tax profit to ?100.1 million ($170 million) as revenue increased 11% to ?586.4 million. Civil aerospace revenues were flat at ?254.1 million, but military revenues increased 31% to ?251.1 million. EMBRAER HALVES SECOND-QUARTER NET PROFIT REGIONAL JETS Embraer's net second-quarter profit halved to $67.8 million on an 11% reduction in sales to $1.46 billion as commercial aviation sales fell 4% to $972 million. The airframer delivered 35 commercial aircraft out of 56 deliveries. Its firm order backlog comprised 340 regional aircraft on 30 June. RISING COSTS HURT ST AERO MAINTENANCE Second-quarter net profits at Singapore Technologies Aerospace were down 20% to S$49 million ($34 million). Turnover grew 1% to S$499 million, but cost of sales increased 4% to S$411 million. LOAD-DATE: August 25, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International
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July 21, 2009
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SECTION: BUSINESS LENGTH: 558 words Business briefs Court extends passenger compensation rights AIR TRAVEL Europe's Court of Justice has ruled that passengers can pursue compensation over cancelled flights through courts with jurisdiction over the departure or arrival points, rather than the airline's main office. The clarification follows a case brought by an Air Baltic passenger travelling from Munich to Vilnius who took his claim to the court with territorial jurisdiction over Munich Airport. Air Baltic had argued that the relevant jurisdiction was Riga. Chromalloy targets Latin America SPARE PARTS US parts and repair company Chromalloy has reached an exclusive agreement with Miramar, Florida-based TSI Aviation for sales and marketing of parts manufacturer approval parts, including high-pressure turbine blades for commercial and military aircraft operators in Mexico, Central and South America. Chromalloy has been represented in Brazil for several years. Insitu Expands Production with second plant UAVS Boeing's Bingen, Washington-based Insitu unmanned systems subsidiary is expanding with a new plant in Stevenson, Washington, to make ScanEagle and Integrator aircraft. Separately, Insitu has delivered its 1,000th ScanEagle. Finance costs weigh on Sukhoi Civil Aircraft MANUFACTURING Sukhoi's civil aircraft division posted a 2008 operating loss of nearly $45 million and a net loss of $115 million - after an operating profit of $2.7 million in 2007 - despite increasing revenue nearly tenfold to $6 million. The company, which is developing the Sukhoi Superjet 100 regional aircraft, says operating costs were held at about 2007 levels, but the results reflect a fourfold reduction in governmental grants, to $16.7 million, and a weakening rouble, while interest expenses soared to $14.4 million from just $870,000. Total debt at the end of 2008 was $819 million. SHARE PRICE FALL HITS ANA'S FUNDRAISING TARGET FINANCE A falling share price has led Japan's All Nippon Airways to lower its sights by 20% for the cash it hopes to raise from a share placement to finance the purchase of additional aircraft, including Boeing 787s, and shore up its balance sheet. On 1 July, the carrier announced plans to raise ?183 billion ($1.98 billion), but now it is looking for ?141.7 billion from its offer of 575 million shares, at ?259 each, to Japanese and international investors. Republic to buy bankrupt Frontier AIRLINES A judge overseeing the restructuring under Chapter 11 bankruptcy protection of Denver-based Frontier Airlines has approved its purchase, in the absence of a higher bid, for $108 million by Republic Airways, which is one of Frontier's largest unsecured creditors and was an operating partner until bankrupt Frontier ended their air services agreement in June last year. Republic is also in the process of closing the purchase of Midwest Airlines.
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FOUR PLEAD NOT GUILTY IN BA-VIRGIN CARTEL CASE fair trading Four executives with links to British Airways have reportedly pleaded not guilty to charges in connection with an illegal fuel surcharge cartel organised between BA and rival Virgin Atlantic. The four Andrew Crawley, Martin George, Iain Burns and Alan Burnett - appeared at Southwark Crown Court in London for a pre-trial review, after being formally accused of cartel offences. Their trial will begin on 18 January 2010, and is expected to last two weeks. LOAD-DATE: July 20, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION: BRITISH AIRWAYS, SAS FACE LABOUR UNREST COST-CUTTING

SECTION: BUSINESS LENGTH: 2 words Business briefs Two major European airlines face a summer of discontent after failing to reach cost-cutting agreement with key unions. At British Airways, 2,000 cabin crew overwhelmingly rejected a plan to see them forego a month's pay, as part of a wider proposal to slash 3,500 jobs in the wake of heavy losses. Talks were set to continue last week under the auspices of the ACAS conciliation service. Separately, the SAS Group is searching for a cost-cutting plan after failing to reach productivity agreements with its 39 trade unions during negotiations in which "short deadlines" had been set in a bid to reach deals before summer. BOMBARDIER CLOSES $600M CREDIT FACILITY FUNDING Bombardier has closed a $600 million letter of credit facility agreement with a syndicate of financial institutions to support operations, replacing a facility due to expire in December. Separately, Moody's changed its rating outlook for Bombardier to stable from positive, affirmed its Ba2 corporate family and Ba2 senior unsecured ratings and lowered its speculative grade liquidity rating to SGL-3 from SGL-2, noting "the potential for increased cash consumptiveness associated with lower aerospace order and delivery activity". LUFTHANSA-AUSTRIAN DECISION DELAYED COMPETITION
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European Commission competition regulators could delay a decision on Lufthansa's acquisition of Austrian Airlines until November, after opting to carry out an in-depth inquiry into competition on routes between Austria, Germany, Switzerland and Belgium. Lufthansa had hoped for a decision by the beginning of July. PRAXAIR BUYS ENGINE COATINGS SPECIALIST ACQUISITION Praxair Surface Technologies has acquired industrial and aviation gas turbine protective coatings supplier Sermatech for an undisclosed sum from private equity firm Arsenal Capital Partners. Sermatech, whose slurries and diffusion and thermal-spray coating processes protect metal parts at high temperatures, had 2008 sales of $116 million compared with Praxair's $575 million. TURKISH AIRLINES TO SET UP FUELLING VENTURE PARTNERSHIP Turkish Airlines is entering what is believed to be a 50-50 partnership with Koc Group energy company Opet to set up an aircraft fuelling company at Istanbul Ataturk airport and broaden its services to other airports in Turkey. ISRAELI ALGAE EXPERT JOINS FORCES WITH NASA BIOFUEL Israeli microalgae processes developer Seambiotic has through its US subsidiary entered an agreement with NASA Glenn Research Center to research open-pond growth processes for microalgae for use as aviation biofuel feedstock. The objective is to improve production processes and to study and qualify algae oil from alternative species as candidate aviation fuel at NASA test facilities. BOEING URALVENTURETOSTARTOPERATIONS TITANIUM Ural Boeing Manufacturing, a joint venture between Russian titanium manufacturer VSMPO-Avisma and Boeing, is set to begin operations in a speciallybuilt facility in Verkhnaya Salda equipped with six five-spindle profilers to fabricate rough-machined titanium forgings for the 787 programme. The first shipment to Boeing's Portland, Oregon facility is scheduled for the beginning of next year, and at full capacity the plant will be able to produce 800t of structural components for up to 20 airframes a year. LOAD-DATE: July 13, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International June 30, 2009
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LUFTHANSA SETTLES BMI TAKEOVER DISPUTE AIRLINES A legal dispute between Lufthansa and BMI chairman Sir Michael Bishop has been resolved out of court, paving the way for the German flag carrier to take over BMI. Lufthansa is to acquire Bishop's 50%-plus-one-share stake in BMI on 1 July for ?48 million ($79 million) through UK-based LHBD, and also pay Bishop's company ?175 million to cancel a put option that had been at the centre of the dispute. Once traffic rights are acquired, Lufthansa will raise its share of LHBD from 35% to 100%, giving it 80% of BMI. The remaining 20% is still held by SAS Group. ?300 MILLION loan for CFM56 SUCCESSOR FUNDING The European Investment Bank is to loan up to ?300 million ($420 million) to Safran towards a ?600 million project to develop a new generation of cleaner, quieter aircraft engines to replace the CFM56, jointly produced with General Electric, for single-aisle commercial jets with 110-210 seats. Separately, the joint venture company formed last year by GE's Middle River Aircraft Systems thrust reversers and nacelles business and Safran's Aircelle operation is to develop nacelle systems for new CFM engines. WAHA TO TAKE 50% OF AERCAP'S A320 OPERATION LEASING Middle Eastern lessor Waha Capital is to pick up a 50% shareholding in AerCap's specialised Airbus A320 operation, AerVenture, a stake previously owned by Kuwait's LoadAir. AerCap and LoadAir had equally owned AerVenture but earlier this year AerCap acquired the entire company after LoadAir failed to meet a deadline to make a capital injection. VOLVO AERO CLEARED FOR GENX STATE AID DEVELOPMENT Volvo Aero has secured European Commission approval for Swedish state aid amounting to SKr304 million ($38 million) for research and development of General Electric GEnx powerplant components. According to Brussels, the Swedish government is supporting the project, through a repayable advance, to "reduce the risk" linked to programmes where "returns on investment tend to be uncertain and slow". BAE IN SEARCH FOR HEAD OF US OPERATION MANAGEMENT BAE Systems' US subsidiary has appointed former US Marine Corps general and current board member Anthony Zinni to be chief executive and president while the company searches for a permanent successor to Walt Havenstein, who has accepted the chief executive job at SAIC. Havenstein's tenure has seen BAE's US operations grow to become one of the Pentagon's largest contractors, spanning a diverse field of air, land and naval products. WELSH BOOST FOR AIRBUS WING WORK INVESTMENT The Welsh assembly has granted Airbus ?28.6 million ($47.2 million) towards the development of composite capability and skill development in Wales. The cash will boost Airbus's local training initiatives and contribute to its ?100 million investment in a composite wing assembly line building at its Broughton facility. UK SUPPLY CHAIN EFFORT GOES DOWN UNDER INDUSTRY The Australian Aerospace Industry Forum has become the first trade group outside the UK to adopt the Society of British Aerospace Companies' Supply Chains for the Twenty-first Century initiative to improve supply chain performance. SC21 was launched in 2006 and has 500 UK-based member companies. LOAD-DATE: July 6, 2009 LANGUAGE: ENGLISH
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 520 words Business briefs VOLVO GETS LIFT FROM SWEDISH ROCKETS THRUST LAUNCHERS Volvo Aero has welcomed a Swedish government decision to remain involved in the European Space Agency's Ariane launchers programme, despite its concerns about cost efficiency and political transparency. Company president Staffan Zackrisson says the move will save about 150 jobs in Trollh?ttan: "This means that we will maintain our leading position in nozzles and turbines for space rockets." SPIRIT: READY TO GROW WITH 787 AEROSTRUCTURES Spirit AeroSystems is prepared to deliver Boeing 787 shipsets at a rate of seven a month should Boeing order a rate increase. Fuselage business head Richard Buchanan says Spirit will deliver 10-12 787 shipsets in 2009 and hold that two-a-month rate into 2010 until Boeing signals its readiness to ramp up. Boeing plans to deliver 10 787s a month by 2012. S&P DOWNGRADES BRITISH AIRWAYS FINANCE Standard & Poor's has revised its outlook on British Airways to negative from stable following the carrier's posting of a pre-tax loss of ?401 million ($643 million) and ?150 million operating loss for its fiscal year 2009, to the end of March, and withdrawal of any earnings guidance for its current, 2010 year. S&P credit analyst Eve Greb says: "We had anticipated BA to target a level of operating performance in fiscal 2010 comparable with the previous year." In its year to 31 March 2008, BA made a pre-tax profit of ?922 million. TATA GEARS UP FOR US CLIENT ROTORCRAFT Tata Advanced Systems is to invest Rp10,000 million ($210 million) in a production facility in
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the aerospace special economic zone near the greenfield international airport at Shamshabad near Hyderabad to make large commercial transport helicopters for an as-yet unnamed US company. The facility should be operational by mid-2010. VIRGIN NIGERIA TO LOSE 'VIRGIN' BRAND NAME AIRLINES Virgin Nigeria has to rebrand by 7 July to reflect discontinuation of 49% shareholder Virgin Atlantic's technical co-operation and day-to-day involvement with the carrier it established five years ago. Virgin Atlantic, which is looking to sell its stake, says the Lagos-based airline "has been a successful business in terms of a strong safety culture and growth in Nigeria", adding that it "doesn't need the branding cost" of the Virgin link. Names being considered include Nigerian Eagle and Air Nigeria. GENERAL DYNAMICS HAS EYES FOR SENSOR MAKER ACQUISITION General Dynamics' Advanced Information Systems business unit is to acquire electro-optical and infrared sensor systems and multi-axis stabilised cameras maker Axsys Technologies for $643 million. Connecticut-based Axsys employs 1,000 workers and expects 2009 sales of $280 million. Customers include the US military, security and law enforcement agencies as well as energy and film production companies. DONALDSON FILTERS OUT BRAND NAMES SUPPLIERS Minneapolis-based filtration systems-maker Donaldson is rebranding its St Louis-based Aerospace Filtration Systems, Paris-based Le Bozec Filtration and Systems, and Valencia, California-based Western Filter operations as the Donaldson Aerospace and Defense Group. LOAD-DATE: June 25, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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Business briefs GENERALDYNAMICSANDELBITFORMUAV VENTURE UNMANNED SYSTEMS General Dynamics Armament and Technical Products and Elbit Systems of America have formed a 50-50 joint venture based at Fort Mill, South Carolina, named UAS Dynamics to develop unmanned airsystems for the US Department of Defense and other US government customers. Systems offered will be based on Elbit's Hermes and Skylark systems. MTU SELLS US DISK MAKER PROPULSION EDAC Technologies, a designer and manufacturer of tools, fixtures, jet engine components, composite moulds and spindles, is to buy the manufacturing unit assets of MTU Aero Engines North America, located in Newington, Connecticut. AENA will be renamed EDAC Aero and remain a supplier to MTU of rotating components, including disks for the IAE V2500 engine programme. EDAC acquired the assets of MTU AENA's component repair unit in 2007. MOTOR MAKER TO MOVE INTO CIVIL MARKET ACQUISITION Electrical motion systems supplier Bental Industries is moving into the civil market following its acquisition by TAT Technologies. The two Israeli companies will jointly market auxiliary power units integrated with air conditioning units as complete civil aviation solutions. To date, Bental motors and servo actuators have been used in unmanned airvehicles and jet engines. AGUSTAWESTLAND OPENS NEW PORTUGAL OFFICE ROTORCRAFTFinmeccanica's AgustaWestland unit has opened a regional business headquarters in Lisbon. AgustaWestland managing director Graham Cole says AgustaWestland sees "significant future business opportunities" in Portugal. Over 20 commercial and military helicopters have been ordered and are in service in Portugal, including AW101, Lynx, AW139, AW109 Power and Grand models, while 10 NH90 helicopter are also on order for the armed forces. ILFC LINESUP 787 CUSTOMERS LEASING ILFC, the aircraft leasing business owned bytroubled insurance giant AIG, has signed leases for 31 of the 74 Boeing 787s it has on order for delivery from July 2012. ILFC has contracted with Airbus and Boeing to buy 150 new aircraft for delivery through 2019 with an estimated purchase price of $15.7 billion, 30 of which are scheduled to be delivered during the restof 2009. ILFC took delivery of 18 new aircraft during the first quarter of 2009. At 31 March, ILFC owned 972 aircraft in its leased fleet. SWISSCARGOTOIMPLEMENTSHORT-TIMEWORKING LABOUR Swiss International Air Lines' freight subsidiary Swiss WorldCargo expects to put up to 100 employees on short-time working from 1 June in response to a "spectacular fall" in business during the first quarter. The carrier says the measure is necessary to prevent "major" job cuts. Swiss parent Lufthansa has already introduced short-time working at its Lufthansa Cargo division. BRAZIL MAY SUBSIDISE REGIONAL CARRIERS AIRLINES Brazil may move to subsidise flights to medium-sized cities in the country's interior. President Luis Inacio Lula de Silva, speaking at the World Tourism Forum in Florianopolis, said previous governments had "neglected regional aviation". He gave no details or timeframe for any eventual regional aviation aid package but said: "We must find a balance between the airlines' right to make a profit, and the citizens' rights to be able to travel." LOAD-DATE: July 21, 2009
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 539 words Business briefs ILFC IS AIG'S LONE PROFIT CENTRE LEASINGA larger fleet and lower composite interest rates helped mega-lessor ILFC reporta 43% year-on-year increase in first-quarter profits to $316million as revenue rose10% to $1.28billion, making it the only unit of ailing insurance giant AIG to make money. AIG, now 80% owned by the US government, reported a first-quarter loss of $4.35billion. Three bidsare reportedly in to buy ILFC, thought to value the 900-aircraft lessor at less than $5 billion. ISLE OF MAN REPOSSESSION SERVICELAUNCHED REGISTRATIONThe Isle of Man aircraft registry and a private aviation consultancy have formed a repossession service and temporary registry to provide seizure and continuing airworthiness management for commercial aircraft that are repossessed or returned early from a lease. International Bureau of Aviation chief operating officer Phil Seymour says aircraft can be given a "secure temporary home" on the Isle of Man registry while in transition between owners. AUSTRIAN ownerS ACCEPT LUFTHANSA OFFER PRIVATISATIONLufthansa's offer for Austrian Airlines has been accepted by more than 85% of the Vienna-based carrier's shareholders, including state holding company OIAG, with a 41.56% stake, and the syndicate of Austrian core shareholders thataccount for about7%. Austrian executive board member Peter Malanik says a deal -subject to European Commission competition approval and ?500 million ($682.7 million) in restructuring aid -should close this summer. Austrian made a ?77 million first-quarter operating loss.
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Vought down with 747-400 AEROSTRUCTURESThe transition fromthe outgoing Boeing 747-400 to the new 747-8 model drove a 5% decline to $402.6 million in first-quarter revenue foraerostructures maker Vought. Net income was downnearly 11% to $17.9 million. Commercial revenue fell 16% to $34.4 million, but military revenue was up 6% to $8.3 million and business jet revenue rose5% to $3.3 million. UNITED MECHANICS WOOED BY RIVAL UNION LABOURThe International Association of Machinists and Aerospace Workers has launched a campaign to lure 8,000 United Airlines mechanics away from its rival,the International Brotherhood of Teamsters. United mechanics had been with the IAM for several decades before 2003, but the Teamsters says it is not concerned by IAM's offer, claiming that since taking over mechanic representation in 2008 it has saved hundreds of jobs threatened by outsourcing. AIRWORTHINESS FIRM TAKES STAKE IN RIVAL SAFETYUKairworthiness consultancy and safety training provider Avisa Aviation Safety Systems has acquired one-third of EASA-approved design and certification services firm aeroDAC for an undisclosed sum. Avisa managing director Justin Goatcher will become director of business development for aeroDAC. KAMAN MARKS SOLID FIRST QUARTER SUPPLIERSBoeing and Sikorsky aerostructures supplier Kaman posted a near-5% rise in operating profits to $15.3 million on sales up 13% to $117.1 million for the first quarter, as all four of its aerospace operating segments tuned in "solid" results. The company said results were driven by continued strong performance at its Jacksonville plant and in its helicopters segment, adding that Wichita operations had improved on last year. LOAD-DATE: July 21, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
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SECTION: BUSINESS LENGTH: 548 words Business briefs UNITED TECHNOLOGIESCUTS FORECAST OUTLOOK Pratt & Whitney engines and Sikorsky Helicopters parent company United Technologies cut its 2009 revenue forecast by $2.7 billion to about $55 billion and boosted 2009 restructuring charges by $600 million, to $750 million, to take its 2009 headcount reduction to 11,600 worldwide. Chief executive Louis Chenevert says: "The outlook for commercial aerospace and global construction markets has continued to deteriorate and the economic recovery previously anticipated in the second half of 2009 now appears unlikely." SAFRAN MOVES TO EXPAND IN MEXICO MANUFACTURING France's Safran Group is to expand its presence at the aerospace industrial region being established in the Mexican state of Queretaro. According to Queretaro undersecretary of economic development Marcelo Lopez, Safran will in April or May start construction of two plants to produce from 2010 landing gear components and engine parts for its Messier-Dowty and Snecma divisions. At other sites in the area Safranhas a landing gear repair shop and CFM56 overhaul line. NO DEAL, NO STRIKE: BOEING WICHITA ENGINEERS LABOUR Some 700 engineers at Boeing Integrated Defense Systems in Wichita have voted for a second time to reject a contract offer, but opted not to strike and will now seek to resume negotiations over pay, pensions and healthcare provision. Society of Professional Engineering Employees in Aerospace union executive director Ray Goforth says: "These engineers are the experts in aerial refuelling tankers. If Boeing wants to get [the $35 billion US Air Force KC-X] contract, it needs to improve its offer." BRITISH AIRWAYS TO CUT ?300M IN NON-FUEL COSTS AIRLINES British Airways aims to cut non-fuel costs by ?220 million ($312 million) over its 2009-10 financial year and by a further ?80 million over 2010-11. The airline expects 2009-10 revenue to fall by 5% and fuel costs to drop by 10%. Summer 2009 capacity will be 2% below last year. Full-year 2008-9 revenue is expected to rise 3.5%, with fuel costs up by ?950 million and non-fuel costs up 7%. CONVERSION JOBS AMONG 200 PLANNED IAI CUTS LABOUR Israel Aerospace Industries is to lay off 200 temporary workers across its Bedek Aviation freighter conversion and executive jet divisions. The firm employs around 16,500 staff. The move comes on top of an early-retirement scheme, which has been taken up by around 1,100 employees over the past three years. GREECE PICKS MARFIN IN OLYMPIC SALE BID PRIVATISATION Greece's government has selected Marfin Investment Group as its preferred buyer for the flying and maintenance operations of beleaguered Olympic Airlines. Marfin may also buy the ground-handling operations if talks with Swissport fail. Marfin, a diversified Greek company with minority ownership from a Dubai-based investment group, beat out proposals from US-based Chrysler Aviation and privately owned Greek carrier Aegean Airlines. 'OVER 20' BUYERSEYEING SR TECHNICS DUBLIN DIVESTMENT SR Technics and its Irish unions are in consultations over the Swiss maintenance firm's plan to quit Dublin, where it employs 1,135 people. SRT claims "more than 20" expressions of interest in parts of
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the business,but adds: "In the current market conditions, it will not be possible to have a sustainable business." LOAD-DATE: April 2, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
SECTION: BUSINESS LENGTH: 570 words Business briefs COMPOSITES TO 'FORCE TIER 1 RESTRUCTURING' MANUFACTURING The aerostructures industry will restructure around a handful of tier 1 companies capable of investing enough to keep up with rising demand for composite products, with likely winners including Alenia, GKN, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Spirit and Vought, according to a report by consultancy Roland Berger. Other firms will form a second tier of suppliers, which to survive will have to differentiate themselves with technology, be cost leaders or provide services beyond manufacturing. Berger forecasts composite materials use will rise about 15% yearly for the next 12 years, while aluminium structures output falls by 30-40% over the next three to four years. AVIC MAKES FIRST MOVE IN CHINA RESHUFFLE INDUSTRY Aviation Industry Corporation of China has merged several business units to form a company to produce a large military transport as well as major parts for China's 150- to 200-seat commercial aircraft. AVIC Aircraft Corporation, which includes Xian Aircraft, Shaanxi Aircraft, AVIC Aircraft Design Research Institute, AVIC's aircraft landing gear company and other subsidiaries, is the first step in a domestic industry restructuring that began with the merger last year of the holding companies AVIC I and AVIC II. It is intended to restructure the industry around products including air transport, helicopters and propulsion rather than by geographic regions.
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ORDERS 'MAY LANGUISH BELOW TREND': MOODY'S OUTLOOK Moody's Investors Service has lowered the global aerospace and defence industry outlook to stable from positive, citing increasing uncertainties including the availability of financing for planned aircraft deliveries, as well as declining air passenger traffic, which reduces the need for new equipment. Aerospace "remains a solid sector with near-term results supported by a good orderbook", says Moody's, but the firm warns that even if the backlog is sustained at fairly robust levels a "protracted economic malaise implies that orders could be a fraction of the long-term trend for some time". SPACEHAB CHANGES NAME TO ASTROTECH STOCK MARKET NASDAQ-traded commercial space services company Spacehab has changed its name to Astrotech. Chief executive Thomas Pickens says the new name "more accurately reflects the company's current mission and vision for future growth". For now, shares will continue to trade under the symbol SPAB. ISRAELI SATELLITE IMAGES DEAL FOR ABU DHABI EARTH OBSERVATION Imagesat, the Israeli company that operates the Eros Earth imaging satellites, looks set to supply services to Abu Dhabi, part of the United Arab Emirates, which has no diplomatic relations with Israel, but has been using Eros A services since 2006. The contract, worth about $25 million yearly, will allow direct access to the Eros B downlink, but without images of Israel. The satellite provides images with resolution as fine as 0.7m (2.3ft). LIAT DISTANCES ITSELF FROM STANFORD FRAUD Caribbean regional carrier Liat has distanced itself from reports that Sir Allen Stanford, the Texas billionaire charged with massive investment fraud by the US Securities and Exchange Commission, owned a stake in the airline. Stanford once owned the airlines Caribbean Star and Caribbean Sun, and held high-level merger and shareholding talks with Liat in 2006 and 2007, but has never had a stake in the company, says Liat. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International February 17, 2009
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SECTION: BUSINESS LENGTH: 541 words Business briefs COURT CHECKS LIGHT SPORT SALES ROW DISPUTE The latest episode in a long-running battle between shareholders in Czech Aircraft Works (CZAW) over control of the maker of the Sportcruiser light sport aircraft has been resolved in favour of CZAW president Chip Erwin and other US investors who have effective operational control. A Czech court ordered Czech Sport Aircraft, a company created by 49% owner Slavia Capital, to stop offering Sportcruisers for sale. Slavia has been trying since last March to have CZAW declared insolvent following a dispute with Erwin over repayment of a $690,000 loan Slavia called in early. Erwin says CZAW managed to increase aircraft shipments by about 40% to 157 in 2008 despite the dispute, which has hit supplier confidence and led some customers to cancel orders. R-R, P&W DELAY MOVES TO SINGAPORE INVESTMENT Construction of a Rolls-Royce factory to build Airbus A350 and Boeing 787 engines and a Pratt & Whitney component repair shop at Singapore's Seletar airport have been delayed and neither will open this year as planned. R-R, which is under increasing political pressure to create jobs in the UK, gives no revised timetable, but says it remains committed to building its first commercial aircraft engine factory outside the UK at Seletar. P&W says its construction will begin later this year and be completed in 2010. RBS LEASING DIVISION UP FOR SALE 'BY MARCH' CREDIT CRUNCH Troubled Royal Bank of Scotland, which last week announced 2,300 UK job cuts and last year received ?20 billion ($29.2 billion) in UK taxpayer bailout funds, will put RBS Aviation Capital up for sale this month, say industry sources. One London banker says political imperatives are driving a sale: "From a taxpayer's point of view, it doesn't make sense for RBS's capital to be deployed overseas to help create aviation jobs." FURTHER ROW 44 DELAY COULD HURT PARTNER IN-FLIGHT ENTERTAINMENT Antenna maker AeroSat has warned the US Federal Communications Commission that its financial health will suffer if the agency continues to delay a key approval to its partner, in-flight internet provider Row 44. AeroSat says concerns over interference with satellite communications are unfounded. SPACEHAB ROCKETS INTO THE BLACK SPACEFLIGHT Houston-based Spacehab turned a $1.5 million net profit for the six months to 31 December on revenue of $9.8 million. The launch and payload services and engineering firm lost $33.7 million on revenue of $12.9 million a year earlier. CIVIL, MILITARY CONTRACTS BOOST CAE TRAINING Simulators specialist CAE posted a 28% rise in third quarter pre-tax profits to $78C.7 million ($63 million) on revenue up 23% to $424C.6 million, getting a boost from new military and civil contracts including multi-year deals with US retailer Home Depot for training on its Dassault Falcon and with Elite Jets for Gulfstream G450 and Hawker 850XP training in Dubai.
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BRUSSELS DOUBTS OVER AUSTRIAN TAKEOVER PRIVATISATION Lufthansa's intended acquisition of Austrian Airlines faces a European Commission competition investigation to examine concerns that Austrian is not being sold for a fair price. Lufthansa is to pay ?366,268 ($474,000), or ?0.01 per share, for the Austrian state's 41.56% holding in its flag carrier. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
SECTION: BUSINESS LENGTH: 491 words Business briefs B/E IN THE RED DESPITE 'RECORD 2008' INTERIORS A $300 million goodwill impairment charge pushed B/E Aerospace into the red for a 2008 that would otherwise have been a "record year" for the cabin interiors specialist. The company posted a full-year pre-tax loss of $87.8 million, compared with a $215.1 million profit last year, despite a 25.8% sales increase to $2.1 billion. Chief executive Amin Khoury anticipates a weak first quarter 2009 owing to decreased retrofit shipments, lingering impact of the Boeing strike and lower spares sales as airlines cut spending. GOODRICH LOOKS FOR 2009 GROWTH MANUFACTURING Aircraft parts maker Goodrich expects rising Airbus and Boeing airliner deliveries to help 2009 sales grow 1-2%. Last year the company posted a 34.8% increase in pre-tax profits to $966.6 million on sales up 10.5% to $7.06 billion. INDUSTRY FORECAST BLEAK, SAYS BOYD
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AIRLINES US aviation consultant Michael Boyd issued a bleak forecast for the US airline industry, saying 41 million fewer passengers will fly commercially in 2009 versus 2008, and that passenger levels may not again reach last year's levels until after 2014. "Our model assumes a return to economic stability in 2011," says Boyd. GULF AIR PRESSED TO OUST NAF MANAGEMENT Middle Eastern carrier Gulf Air is considering its response to a Bahraini parliamentary call for a new chief executive, to replace Bj?rn N?f, and for increases to the proportion of Bahraini citizens occupying the carrier's most senior roles. Naf has headed Gulf Air since mid-2007 and has pushed to reverse the airline's heavy losses. RUSSIAN FUEL supplier RUNS OUT OF GAS BANKRUPTCY Russian aviation fuel provider TOAP is set to declare bankruptcy after failing to recover financial losses inflicted by the collapsed carrier alliance AirUnion. The firm claims to be owed Rb4.9 billion ($135 million). TOAP supplies jet fuel to 120 Russian airports and the country's major carriers. MOOG BUYS OPTICAL FIBRE SENSOR FIRM TECHNOLOGY Control systems designer and integrator Moog has bought for ?11 million cash ($16.1 million) a 70% controlling share in Insensys, a supplier of optical fibre sensor technology. Moog has an option to purchase the remaining 30% within one year. AMETEK EXPANDS REPAIR BUSINESS ACQUISITION Ametek Aerospace and Defence has acquired for an undisclosed sum privately held High Standard Aviation, a $31 million-sales Miami-based provider of electrical/electromechanical, hydraulic and pneumatic repair services. OLYMPIC PRIVATISATION FAILS GREECE Attempts by the Greek government to sell flag carrier Olympic Airlines failed after the highest bid for its flight operations division came in at just ?24.5 million ($31.5 million). The division had been independently valued at ?45.7 million. AS CZECHS OPEN BIDDING TENDER Just over 91% of Czech Airlines is being offered for privatisation by the Czech Republic's finance ministry. Aeroflot confirmed it is interested in a deal. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 538 words Business briefs EATON LOOKS TO LOW GROWTH IN 2009 MANUFACTURING Diversified manufacturer Eaton's aerospace segment posted a 21.5% rise in operating profits for 2008 to $288 million on revenue up 13.6% to $1.81 billion despite a slowdown in the fourth quarter, when profits grew 5.6% to $76 million and sales rose 6.4% to $446 million. US sales were down 9% in the fourth quarter owing to the Boeing machinists' strike, but in non-US markets they grew 7%. Chief executive Alexander Cutler forecasts 2009 growth of 2%, including 4% US growth and a 3% decline elsewhere. SABENA TECHNICS TO SLASH JOBS IN BRUSSELS MAINTENANCE Increased competition, the economic slowdown and airline consolidation has forced Belgian-based maintenance firm Sabena Technics to cut a Brussels civil heavy maintenance production line and axe jobs under a plan that could affect one-third of its 1,100 staff. Group chief executive Christophe Bernardini expects a loss of ?13 million ($16.6 million) for the 2008 financial year on a turnover of ?125 million and has cut 2009 sales forecasts. GE GROWS DESPITE 'TERRIBLE' ENVIRONMENT RESULTS GE's aero engines and aviation services segment reported a 14% increase in profits last year, to $3.68 billion, on a similar increase in revenues, to $19.2 billion, despite what management describes as a "terrible credit environment". Equipment orders were down 26% in the quarter and 13% for the year. Separately, GE's GECAS leasing unit saw revenue and profits essentially unchanged at $4.9 billion and $1.2 billion respectively. STRONG FINISH TO 2008 FOR GENERAL DYNAMICS GROWTH General Dynamics' aerospace segment enjoyed strong fourth quarter and full-year growth as operating profits for the three months to the end of December jumped nearly a quarter year-on-year to $264 million on sales up 26.5% to $1.53 billion. Full-year profits rose 26% to $1.02 billion as sales gained 14.2% to $5.51 billion. Year-end backlog was up 83% at $22.5 billion. LUFTHANSA WEIGHS UP COMPOSITE CONTAINERS TRIAL Lufthansa Cargo is to assess the cost impact of lighter-weight composite freight containers through a pilot scheme with logistics specialist Jettainer, under which it will use 1,000 containers from four manufacturers. Aluminium LD3 containers weigh around 80kg (175lb), but a composite equivalent can be 15% lighter. Jettainer managing director Alexander Plumacher believes such containers could generate savings in the "upper double-digit million" range.
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IAI PUTS CASH BEHIND INDIA VENTURE DEFENCE Israel Aerospace Industries has approved up to $50 million investment in Nova , the Indian defence products maker it formed last year with Tata. The company was created to sell unmanned air vehicles, missiles, radars and electronic warfare equipment to the Indian military. DE HAVILLAND NAME BECOMES HISTORY SUBSIDIARY Hawker de Havilland is changing its name to Boeing Aerostructures Australia to reflect the fact it is a wholly owned subsidiary of Boeing and works mostly for the US airframer. The Australian company, which has manufacturing plants in Melbourne and Sydney, started in 1927 and was originally owned by UK aircraft-maker de Havilland, becoming Hawker de Havilland when it was bought by Hawker Siddeley in the 1960s. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International January 27, 2009
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SECTION: BUSINESS LENGTH: 523 words Business briefs SIKORSKY GIVES LIFT TO UNITED TECHNOLOGIES RESULTS Aerospace businesses helped conglomerate United Technologies overcome flagging performance at its Carrier air conditioning and Otis elevators businesses to report modest 2008 consolidated sales and profit gains. The Sikorsky helicopter division's operating profits rose 28.2% to $478 million on sales up 12.1% to $5.37 billion, Pratt & Whitney profits were up 5.5% to $2.12 billion on sales up 6.9% to $13 billion, and Hamilton Sundstrand made $1.1 billion (up 13.7%) as sales reached $6.2 billion (up 10.1%).
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MULTI-BILLION DOLLAR LOSSES AT UNITED, AMERICAN AIRLINES United Airlines and American Airlines posted huge 2008 losses as soaring fuel prices took their toll. United parent UAL says its fuel costs increased by $2.9 billion in 2008, driving a $1.3 billion loss for the fourth quarter and $5.3 billion in losses for the full year. In 2007, UAL lost $53 million in the fourth quarter and $403 million for the full year. American parent AMR lost $2.1 billion for 2008 compared with the $504 million profit it recorded in 2007. CHINA SEEKS INVESTOR FOR ENGINE COMPANY DEVELOPMENT China is open to having a foreign or domestic investor buy up to 30% of China Aviation Industry Corporation's new aircraft engine company, which will develop and build jet engines for a new 150-seat aircraft being developed by Commercial Aircraft Corporation of China, to enter service before 2020. RUSSIA'S OAK NAMES CHIEF OF CIVIL AVIATION ARM RESTRUCTURING Russia's United Aircraft (OAK) has named executive vice-president Valery Bezverkhny as the chief of its newly created civil aviation arm. Sergei Galperin has been appointed vice-president of OAK's Tupolev unit. DAE ARMED WITH $800 MILLION FACILITY FINANCING Dubai Aerospace Enterprise has closed with a group of lenders a three-year $800 million equivalent term loan and revolving credit facility to be used "for general corporate purposes". Dubai describes DAE as an "important strategic investment" in the emirate's bid to become an aerospace centre and aviation hub. VOLVO AERO SEEKS TO CUT STAFF BY 350 LAY-OFFS Volvo Aero is to start negotiations with trade unions to eliminate 250 blue collar positions at its Trollhattan facility in response to falling demand for new aircraft. Another 100 or more white collar jobs will be eliminated through the reduction of its consultant pool and not replacing retiring staff. AMETEK EXPANDS MIAMI MRO CAPACITY ACQUISITION Electronic instruments and electromechanical devices maker Ametek has acquired for an undisclosed sum privately held High Standard Aviation, a Miami-based provider of electrical/electromechanical, hydraulic and pneumatic repair services. High Standard Aviation has annual sales of around $31 million. Ametek annual sales are about $2.5 billion. ONTARIO GRANT BUYS AEROSPACE JOBS INVESTMENT Aerospace parts maker Cyclone Manufacturing of Mississauga, Ontario has won a C$7.7 million ($6 million) grant from the government of Ontario to support a C$50 million, five-year investment in new technology that will create 133 jobs. Customers include Boeing, Bombardier and Embraer. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 537 words Business briefs QUICKSTEP GEARING UP FOR PRODUCTION COMPONENTS Australian technology company Quickstep is gearing up for full-scale composite component manufacture using its patented fluid-based curing process following the recent approval for its first aerospace parts manufactured at its Fremantle, Western Australia site. The company, which has a manufacturing development contract with Airbus, a co-operation and development agreement with Eurocopter and accreditation as an approved tenderer from two major manufacturers, has received three new autoclaves. CAE SECURES CONTRACTS FOR FIVE SIMULATORS TRAINING CAE has sold to Continental Airlines two Boeing Next Generation 737 full-flight simulators and a flight-training device for delivery to Continental's Houston training centre in 2009. Another two 737 simulators and one for Airbus A320s will in 2010 go to a joint order from Air China and Shandong Airlines. CAE values the deals at roughly $60C million ($49 million). EADS BUYS UK SMALL SATELLITE MAKER ACQUISITION EADS Astrium has acquired Guildford, UK-based Surrey Satellite Technology, the University of Surrey spin-off that specialises in the design and manufacture of small satellites and subsystems. SSTL, which was 85% owned by the university, will retain its name. Astrium UK chief executive Colin Paynter says: "At Astrium we have a healthy orderbook and we are recruiting engineers, scientists and technicians." EMBRAER DELIVERED 162 REGIONAL JETS IN 2008 AIRFRAMERS Embraer delivered 162 regional jets last year, against 130 in 2007. The figure comprises 92 Embraer 190/195s, 64 E-170/175s and six ERJ-145s. In total, the Brazilian airframer delivered 204 aircraft, including 36 executive jets and six for defence and government customers, a 20% increase on the 169 aircraft delivered in 2007. Embraer values its firm order backlog of 426 jets as at the end of December at $20.9 billion. GULF AIR TO START HEDGING FUEL TO CUT LOSSES AIRLINES Gulf Air intends soon to start hedging fuel as part of a bid to halt losses. The airline claims it achieved the highest revenues in its history last year - although it has yet to disclose any figures - but is
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uncertain about when it will start turning a profit. Chief executive Bj?rn N?f says the fuel-price increases last year generated a sense of "urgency" about introducing a hedging policy. See Air Transport P13 AER LINGUS CHIEFS CUT Terms TO FIGHT RYANAIR TAKEOVER BID Aer Lingus chief executive Dermot Mannion and chief financial officer Sean Coyle have requested, and been granted, the removal of a condition in their contracts that would provide for compensation in the event of constructive dismissal if the airline were to be acquired by a third party. Mannion says the change was made to "focus our attention on defeating the unsolicited bid from Ryanair that fundamentally undervalues Aer Lingus". INDIA MAY EASE AIRLINE OWNERSHIP RESTRICTIONS CAPITAL India may ease regulations that bar foreign airlines from owning stakes in its domestic carriers, which want better access to foreign capital. Foreign ownership of up to 49% is allowed, but foreign airlines have since 1997 been barred from owning any shares. A 20-25% ceiling is one option under consideration. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Business briefs INTRODUCTION:

SECTION: BUSINESS LENGTH: 547 words INSOLVENT THIELERT 'TURNED AROUND' ENGINES German diesel powerplant maker Thielert Aircraft Engines is back in the black and being courted by prospective investors, predominantly from the aviation industry and including two defence contractors, says insolvency administrator Bruno K?bler. The firm filed for insolvency in April 2008 and sacked its founder
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and chief executive Frank Thielert after a financial crisis centred on incorrect accounting. The company, based near Chemnitz, builds the Centurion piston engine for light aircraft and unmanned air vehicles, including a version of General Atomics' Predator. K?bler adds that he did not have to dismiss any employees despite the insolvency. LUFTHANSA TECHNIK CREATES SUPPORT DIVISION MAINTENANCE Lufthansa Technik has reorganised its maintenance operation for international carriers under a new wholly owned subsidiary, Lufthansa Technik Maintenance, at Frankfurt Main and based on the infrastructure of Condor Cargo Technik, which it took over in 2003. LTMI will eventually perform line maintenance for all aircraft types supported by Lufthansa Technik, but initially will handle the Airbus A330/A340 and Boeing 757, 767 and MD-11. MTU TAKES STAKE IN GENX ENGINE PROGRAMME DEVELOPMENT German manufacturer MTU Aero Engines is taking a 6.6% share in the General Electric GEnx engine for the Boeing 787 and 747-8. The manufacturer is taking responsibility for the centre frame of the GEnx turbine and expects the agreement to be worth more than ?11 billion ($15 billion). Last year MTU sealed a 15% part?i?ci?pation in the Pratt & Whitney geared turbofan and PW810 business jet engine programmes. SAS TO SELL AIR BALTIC STAKE TO MANAGEMENT AIRLINES SAS Group will sell its 47.2% stake in affiliate carrier Air Baltic to the Latvian airline's management team for 14 million Lats ($28 million). The Latvian government had opted against proceeding with a full privatisation of the airline, effectively blocking SAS from gaining majority control. SAS has also just signed a tentative deal to sell a majority share of Spanair to a group of Catalonian investors. MEGGITT TANKS UP ON KC-135 ORDER DEFENCE Meggitt's Rockmart, Georgia-based Engineered Fabrics has been awarded its largest-ever fuel tank order from the US Air Force, a $41 million deal for 2,255 tanks for the KC-135 life extension programme for delivery from July 2010. Sixteen of the fuel tanks are located in the fuselage of each aircraft. SATELLITE JOINT VENTURE GETS GREEN LIGHT SPACEFLIGHT MicroSat, a joint venture formed by Israel Aerospace Industries and Rafael, has won operating approval from Israel's anti-trust authorities. The company will produce satellites of up to 120kg (265lb), three of which can be launched by an IAI Shavit launcher. One eastern European nation is thought to have a ordered a unit for civil use, and the Israeli air force has been evaluating micro satellites launched as needed to detect ground-to-ground missile launches. HAMPSON INDUSTRIES PROMOTED TO FTSE 250 EQUITIES Precision engineering group Hampson Industries has been promoted to the London Stock Exchange's FTSE 250 index of mid-cap UK companies. In the past four years Hampson has completed six US acquisitions and now has a market capitalisation in excess of ?193 million ($290 million). LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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Flight International December 16, 2008
INTRODUCTION:
SECTION: BUSINESS LENGTH: 535 words BUSINESS BRIEFS CARRIERS FACE 'WORST-EVER TWO YEARS': IATA AIRLINES Airliners were being parked at a rate of 200 aircraft a month around the world in September and October, and the International Air Transport Association predicts "the toughest revenue environment in 50 years" and "the worst-ever revenue outlook for the next two years", with the fall in revenues offsetting the benefits of lower fuel prices. One positive story is that US carriers expect to report a $300 million profit in 2008 - 1% of revenue. SATURN MOVE KICKS OFF RUSSIAN CONSOLIDATION PROPULSION Russia's state-dominated Russian Technologies is to consolidate major powerplant makers under a proposed United Engine Corporation built around NPO Saturn, UMPO and Perm Motors Zavod, which together account for the bulk of domestic engine production for civil and military aircraft, including the PowerJet SaM146 engines for the Sukhoi Superjet 100 regional airliner. US AIRCRAFT SALES REFLECT WANING DEMAND FORECAST Sales of US-made commercial aircraft in 2008 will be virtually flat at $80.6 billion, after rising 10.5% in 2007, according to Aerospace Industries Association figures. Total aerospace industry sales are on pace for a 2.1% increase to $204 billion, about $5.7 billion less than they would have been without the 57-day Boeing machinists' strike. Sales in 2009 are expected to reach $214 billion. BA, QANTAS FINED FOR PRICE FIXING CARGO British Airways and Qantas have been fined by the Australian Competition and Consumer Commission $5A million ($3.3 million) and $20A million respectively for price fixing in their cargo operations between 2002 and early 2006. Both airlines, along with several others, had already been found guilty by US authorities of taking part in an international cargo price-fixing conspiracy. IMI BID TO LIGHT OFF US FLARE SALES JOINT VENTURE Israel Military Industries is negotiating a joint venture with a US company for the production of decoy flares for passenger and military aircraft. IMI chairman Avner Raz says the joint venture will increase funding to develop new generations of flares and help IMI win US military contracts.
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DUCOMMUN WINS $102 MILLION RADAR CONTRACT SYSTEMS Ducommun Technologies has won a $102 million contract running until 2020 with Raytheon for the manufacture and sub-system integration of radar racks and electromechanical enclosures for the Boeing F/A-18 E/F Super Hornet active electronically scanned array radar system and for F-15E radar modernisation. ANZ BUYS TWO REPAIR SHOPS IN AUSTRALIA MAINTENANCE Air New Zealand is expanding its maintenance operations in Australia through the purchase of Tenix Aviation and Masling Industries. Tenix supports general aviation and regional carriers at Adelaide airport, Parafield airport and Darwin. Masling repairs gas turbine engine accessories at Cootamundra. BRISTOW EXPANDS UK OPERATION BY ACQUISITION TRAINING Bristow Helicopters is to transfer its UK instrument rating training operations from Norwich to Gloucestershire with the acquisition of Severn Aviation, to be renamed Bristow Academy. The move will upgrade Bristow's IR training from single- to multi-engine and roughly double student numbers, to about 55 IR courses a month. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Business briefs INTRODUCTION:

SECTION: BUSINESS LENGTH: 521 words US AIRWAYS EYES BIG ANCILLARY REVENUE GAINS AIRLINES US Airways expects to generate $400-500 million from its ancillary revenue programme in 2009, including a new pillow and blanket scheme. Chief executive Doug Parker says programmes including
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checked bag fees, and food and beverage sales have been "as aggressive or more aggressive" than competitors'. Low-fare carriers WestJet and JetBlue already charge $7C ($5.56) and $7 respectively for a pillow and blanket kit. SPEEA UNION RATIFIES FOUR-YEAR BOEING DEAL LABOUR Members of the Society of Professional Engineering Employees in Aerospace union have ratified four-year collective deals covering nearly 21,000 Boeing personnel in Washington, Oregon, California and Utah. The agreements will run until 2012 and follow resolution of a two-month strike by Boeing machinists. UK WET-LEASE OPERATOR CEASES FLIGHTS CHARTER UK specialist charter and wet-lease operator Flightline has ceased trading and gone into administration with the loss of all its 235 jobs bar a few left to assist administrator KPMG. The London Southend airport-based company's fleet comprises nine BAe 146 and BAE Systems Avro RJ regional jets and a pair of Boeing MD-83s. Flightline has previously performed subcontract work for carriers including Air France, British Airways, Lufthansa and Qantas. SPACE TOURISM PIONEER LOOKS TO SCIENCE PERSONAL SPACEFLIGHT Space Adventures, which has organised private flights via Russian Soyuz craft to the International Space Station, is to collaborate with consultants American Aerospace Advisors to provide space-specific scientific experiment and research project opportunities for academic and industrial clients. American Aerospace chief executive David Yoel says: "These projects have the potential to result in significant technical breakthroughs." GLOBAL OBSERVER LIFTS AEROVIRONMENT UNMANNED SYSTEMS AeroVironment's unmanned aircraft systems business posted improved revenue and gross margin - up 15.8% to $102.5 million and 18% to $36.6 million respectively - for the six months to 1 November, thanks largely to customer-funded research and development work on its Global Observer programme, which offset reduced product deliveries and service revenue. UK AEROSPACE ASSOCIATIONS TO VOTE ON MERGER TRADE BODIES Two UK trade associations moved a step closer to merging as the Defence Manufacturers Association council followed the Society of British Aerospace Companies in deciding to ballot members on a proposed link-up. Members of both organisations are expected to be balloted early next year. WIND ENERGY BOOST FOR UMECO COMPOSITES ACQUISITION Composite materials supplier Umeco is to acquire Italian vacuum bagging films maker Industria Plastica Monregalese for up to ?30 million ($38 million). IPM supplies wind energy manufacturers, who account for 6% of Umeco's business. Umeco is also active in aerospace, motor sport and automotive markets. OGMA C-130 CONTRACT WITH FRENCH AIR FORCE CORRECTION On P31 of our 2-8 December issue we referred to OGMA's contract to maintain the French air force's "40-strong" Lockheed Martin C-130 fleet. There are 14 C-130s in the fleet. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 502 words Business briefs HAZY HOPES TO CLOSE ILFC BUY-BACK BY MARCH LEASING Steven Udvar-Hazy, founder and chairman of International Lease Finance, says discussions are under way with a "sophisticated" group of institutional investors and large sovereign wealth funds to buy back the world's largest aircraft lessor from troubled parent American Investment Group, which was rescued by the US government in September. Hazy, who founded ILFC 35 years ago and sold it to AIG in 1990 for $1.3 billion, told Flight International that he hoped to complete a deal by the end of the first quarter next year. COMPOSITES, TOOLING BOOST HAMPSON ENGINEERING Hampson's pre-tax profit for the six months to the end of September was up 127% to ?16.1 million ($24.5 million) on sales up 45% at ?110.5 million, thanks in part to acquisitions. Chairman Chris Geoghegan says investments in composites and tooling have helped balance Hampson's exposure to the production, development and launch phases of aircraft programmes. BOEING MAY FINANCE SOME 2009 DELIVERIES AIRLINERS Boeing chief executive Scott Carson says finance unit Boeing Capital has identified financing sources for deliveries scheduled for the first half of 2009. He adds that it is possible but not certain that some vendor financing may be required. 'CONFIDENCE' DRIVES L-3 SHARE BUYBACKS EARNINGS L-3 Communications has allocated up to $1 billion for share buybacks over the next two years. Chief executive Michael Strianese says: "This new authorisation underscores our confidence in L-3's strong fundamental business position." PRATT & WHITNEY BUYS TANK MAKER
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ROCKETS Pratt & Whitney Rocketdyne has acquired high-performance spacecraft and missile propulsion components maker ARDE, one of its major supplier of tanks and pressure vessels. BOEING EXPANDING COMPOSITES VENTURE IN CHINA MANUFACTURING Boeing is to increase by 60% the capacity of its composite parts manufacturing venture in China, four months after taking majority ownership by buying out Hexcel, its joint venture partner in the former BHA Aero Composites. State-owned China Aviation Industry Corporation retains a minority stake in Boeing Tianjin Composites. MOOG WINS A350 SUPPLIER DEAL FLIGHT CONTROL Airbus has awarded the Moog Aircraft Group a contract for the trailing-edge flight-control actuation for the A350 XWB high lift system. It had already been contracted to supply the primary flight control actuation system. ROCKWELL COLLINS COMPLETES SEOS ACQUISITION SIMULATORS Rockwell Collins has bought for an undisclosed sum SEOS, a maker of visual displays for flight simulators for Airbus, ATR, and Boeing commercial aircraft and some military types. JOBS TO GO AS GE CLOSES UK ACTUATOR SITE COST CUTS GE Aviation Systems is to close its Arle Court facility in the UK town of Cheltenham by March 2010 with the loss of up to 95 jobs. Some 90 jobs will be moved to GE's Bishops Cleeve site. Arle Court performs actuation and landing-gear work for programmes including the Airbus A320, A330, A340, A380 and Boeing 787. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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SECTION: BUSINESS
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LENGTH: 538 words Business briefs ROCKWELL COLLINS STRONG DESPITE STRIKES EARNINGS Strikes at Boeing and Hawker Beechcraft failed to slow fourth quarter and full-year earnings growth at Rockwell Collins, but the company has trimmed sales forecasts for 2009. Fiscal fourth quarter earnings grew 17% to $182 million on revenue up 4% to $1.28 billion while full-year profits increased 16% to $678 million on revenue up 8% at $4.77 billion. However, chief executive Clay Jones says the "Boeing strike lasted longer and global economic activity has slowed more than we planned". Collins lowered its 2009 overall sales projections for fiscal 2009 by about 3% to $4.9-4.95 billion. MEGGITT SEES 'LITTLE IMPACT' FROM SLOWDOWN SUPPLIERS Aerospace and defence equipment maker Meggitt "has seen little impact so far from the anticipated slowdown in civil aerospace", although deliveries to Boeing slowed owing to the machinists strike, according to a management statement for the July-October period. Meggitt adds that the "profit impact of the reduction in the civil fleet and of the Boeing strike will be largely mitigated by the recent strengthening of the US dollar". EADS SELLS LANDING GEAR MAINTENANCE UNIT DIVESTMENT EADS Sogerma will sell its Revima landing gear maintenance division to a holding company co-owned by Revima managing director Christian Grzanka and former Messier-Dowty and Aircelle chief Christian Knapp. Revima specialises in widebody Airbus and Boeing types and Airbus A320s. HAMPSON UNIT EXTENDS A350 TOOLING BUSINESS COMPOSITES Coast Composites, a US subsidiary of Hampson Industries, has won a $4.2 million contract from Airbus to supply initial fuselage curing tools for the A350 XWB programme, in addition to first A350 tooling orders secured by the group in August, taking total Hampson tooling orders on the programme to date to $27 million, for delivery by early 2010. EX-SAAB SPACE UNITS UNDER RUAG UMBRELLA ACQUISITION Saab Space and its Austrian subsidiary Austrian Aerospace are now trading as Ruag Aerospace Sweden and Ruag Aerospace Austria, respectively, following their sale by Saab to Swiss technology group Ruag. More than 500 employees at the two units will be retained, along with sites in Switzerland, Sweden and Austria. EXTEX RANGE BOOSTS TIMKEN PMA OFFER AFTERMARKET Timken will add 600 US Federal Aviation Administration parts manufacturer approval components, including parts for Rolls-Royce 250, Pratt & Whitney Canada PT6 and Honeywell auxiliary power units, to its portfolio of more than 1,400 PMAs with the acquisition, for an undisclosed sum, of the assets of replacement aeroengine parts maker Extex. PRIVATE EQUITY BUYERS NAB GARDNER INVESTMENT Gardner, the UK-headquartered aerostructure and engine components maker, has been bought from Dunedin and Rolls-Royce by private equity firm The Carlyle Group for an undisclosed sum. Gardner has manufacturing facilities in India, Poland and the UK. Customers include Airbus, BAE Systems, GKN and Rolls-Royce. The acquisition was the first by Carlyle's second European technology fund, Carlyle Europe Technology Partners II, now closed at ?530 million ($693 million) and looking to invest ?20-60 million in buyouts and expansion capital in sectors including aerospace.
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LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
SECTION: BUSINESS LENGTH: 547 words Business briefs AEROSPACE HOLDS ITS OWN FOR GKN ENGINEERING Sales and pre-tax profits at engineering group GKN for the nine months to the end of September were up 7% and 4% respectively, but fell short of expectations formed at the half-year mark as automotive demand has slumped. The company issues no quarterly report, but an interim management statement expects "significant further deterioration" in global demand to cut fourth quarter automotive profits by 70%. Aerospace markets remain "robust and in line with earlier expectations", with third quarter revenues up 10% and profits showing a strong improvement. The Boeing strike had little third quarter impact, but could shave up to 8% off fourth quarter revenue. For 2009, GKN expects civil aerospace demand to soften, but a decline of up to 10% would have only a small impact on profits. Defence markets should remain solid. In 2007, GKN Aerospace made ?83 million ($137 million) on sales of ?820 million. A380, 787 DELAYS COST JOBS AT ITP LAYOFFS Airbus A380 and Boeing 787 delays have forced ITP, the engine subassemblies joint venture between Sener Aeronautica and Rolls-Royce, to slash 180,000 working hours from its 2009 schedule, representing 125 staff jobs and an as-yet undetermined impact on temporary workers. Adjustments are also being considered at its Precicast Bilbao and ITA tubing operations. B/E SEES THIRD QUARTER PROFIT RISE TO $51.8M RESULTS Cabin interiors specialist B/E Aerospace saw its net income rise 16.5% to $51.8 million in the third
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quarter on sales up 37.3% year-over-year to $587.8 million, with strong growth in both commercial and business jet segments. However, B/E recently lowered its financial guidance for the remainder of this year and the following two years in light of deteriorating market conditions. CONFLICT LEADS AIG BOSS TO QUIT BOEING BOARD MANAGEMENT Edward Liddy, who last month was named chairman and chief executive of International Lease Finance parent company American International Group, has resigned from Boeing's board of directors amid concerns that he would no longer qualify as an independent director under New York Stock Exchange standards. ROCKWELL COLLINS BUYS DISPLAYS PROVIDER SEOS ACQUISITION Rockwell Collins is to acquire for an undisclosed sum SEOS, a supplier of visual display solutions for commercial and military simulators. SEOS will operate under the Rockwell Collins name as part of its simulation and training solutions operation. SEOS has 150 employees and is headquartered in West Sussex, UK. OPTRONICS JOINT VENTURE GOES AHEAD OF NORWAY FIGHTERS Saab and Simrad Optronics have formed a 51%-49% Norway-based joint venture, Vingtech Saab, to develop high-tech optronics. The venture was to be dependant on Norway buying Saab Gripen fighters, but the companies opted to go ahead regardless and forecast sales of NKr1 billion ($150 million) over the next five to 10 years, rising to NKr7 billion if Norway buys Gripens. ACORN PLANTS MANAGEMENT AT NORCOT BUYOUT Management at Manchester-based Norcot Engineering - Tim Harrison, Dave Howell and John Melia - have bought the company with backing from Acorn Capital Partners private equity. Harrison points to "significant growth opportunities" with customers Eclipse Aviation, Saab, Bombardier and B/E Aerospace. LOAD-DATE: March 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 573 words Business briefs STRIKE AND SUPPLIER BOTTLENECK HITS BOEING RESULTS Striking machinists and a supplier bottleneck combined to crush Boeing's financial performance in the third quarter, as net income dropped 38% compared with the same period a year ago. The Chicago-headquartered airframer will not provide an updated financial outlook until the ongoing strike by the International Association of Machinists ends. Overall sales in the third quarter declined 7% to $15.3 billion. But the strike contributed to a disproportionate decline in profits, which fell from $1.1 billion to $695 million. The financial results reflected a 23% decline in commercial airliner deliveries. Deliveries for certain widebodies were also slowed by galley supplier Sell's production problems. STATE-BACKING SORT FOR SUPERJET PRODUCTION FUNDING Sukhoi Civil Aircraft and engine manufacturer NPO Saturn are seeking additional financial backing from the state to launch serial production of the Superjet 100. In a joint application to the Russian legislature and government, the two firms have requested that the treasury allocate an extra Rb4 billion ($152 million) for the Superjet project. Over the past few years, Sukhoi and NPO Saturn have secured more than $1 billion between them for related work with the bulk of funds in the form of direct budget support and government-backed commercial loans. Citing higher prices of key materials and other supplies, Sukhoi wants the treasury to extend Rb3 billion and NPO Saturn Rb1 billion in additional aid. R-R CREATES LEASING PORTAL FOR V2500 FINANCE International Aero Engines joint venture partner Rolls-Royce is setting up an engine leasing portal for IAE V2500 customers. Operators of the engines powering Airbus A320s that are customers of leasing arm Rolls-Royce & Partners Finance will have access to the portal, which is designed to supply up-to-date information about V2500 availability worldwide. R-R says the portal allows customers to reserve an engine for short-term lease rather than "having to spend valuable time scouring the market for alternative sources". AIRFRAMERS TO UP CUSTOMER FINANCE VENDOR FUNDING Airbus and Boeing will both significantly increase the amount of vendor financing they offer next year. According to the Financial Times, Airbus will double the amount of vendor financing it offers to about ?2 billion ($2.62 billion) in 2009 to support commercial aircraft sales and maintain deliveries. Boeing says it anticipates providing at least $1 billion in customer financing next year. However, the combined value falls well short of the $5 billion predicted by industry analysts and other observers that will be provided by airframers next year. There still will be a $20 billion funding gap next year, according to investment bank JP Morgan and consulting firm Ascend. vueling recovery gathers momentum restructuring Spanish low-fare carrier Vueling Airlines says the best part of its ?90 million ($119 million) improvement plan has been accomplished. The carrier has cancelled 24 non-profitable routes over the past 12 months and reduced its fleet by eight aircraft. In its third quarter results to 30 September, it booked ?4.13 million in restructuring costs, which correspond to aircraft redelivery costs generated by a fleet-reduction programme and are non-recurrent. Third quarter operating profits improved before restructuring costs to ?25.4 million while revenue grew to ?154.7 million.
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LOAD-DATE: February 10, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
SECTION: BUSINESS LENGTH: 545 words Business briefs LATECOERE INTERIMS HIT BY SITE TALKS COLLAPSE SUPPLIERS French aerostructures and wiring systems maker Lat?co?re is pushing for advance payments from Airbus to cover its investment in the delayed A380 programme. The firm, which between 2001 and 2006 spent ?100 million ($137 million) on A380 research and development but is only repaid on delivery of its aircraft packages, has ?361 million net debt and saw first-half earnings before interest nearly halve to ?11.1 million despite a 17.3% increase in revenue to ?297 million due in part to outlays for its bid to buy Airbus production sites at Meaulte and Saint-Nazaire, a project that collapsed earlier this year. Airbus had hoped to sell the sites as part of its Power8 restructuring plan. RUSSIA'S OAK TO ESTABLISH COMPOSITES DIVISION MATERIALS Russia's United Aircraft (OAK) is by year-end to establish a composite parts and structures division. OAK president Alexei Fyodorov says: "We have a lot of expertise in the field of aluminium-lithium alloys, but are lagging considerably behind major aircraft manufacturers as regards carbonfibre reinforced plastics and other composites." SERBIA TO FORMULATE NEW JAT STRATEGY AIRLINES Serbia's government is working to devise a new business strategy for national carrier Jat Airways by 23 October after a planned privatisation failed to attract investors. Jat, which became a state-owned joint-stock company on 24 July, attracted interest from prospective investors including Aeroflot, but none bid
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for the carrier. AVIATION BANKS 'NOT ACTIVE' IN CURRENT MARKET FINANCE Finding debt to finance aircraft acquisitions in the current environment is a major problem that will only get worse during the next 12 months, according to bankers active in the sector. One financier attending last week's European ISTAT conference in Prague told Flight's Commercial Aviation Online: "There is a lot of money going out of the market and not a lot coming in. Out of the 25-30 aviation banks, maybe five are active." EUROPEAN FIRMS LOOK TO USA, ASIA FOR GROWTH MANAGEMENT European aerospace and defence companies are today more focused on securing their existing client bases and winning new sales than developing new products, according to a survey of management at 40 firms by Roland Berger Strategy Consultants. And, given prominent defence acquisition opportunities in countries like the USA and India, and the weakness of the dollar, more than one-third of firms identified Asia and North America as the most attractive regions for investment in both civil and military markets, while less than a quarter view western Europe as most favourable. FREEFLIGHT IN PRIVATE EQUITY BUYOUT ACQUISITION Waco, Texas-based FreeFlight Systems, a maker of satellite guidance and navigation avionics systems for commercial and military applications, has been bought by a management team led by former Elbit Systems of America chief executive Tim Taylor with the backing of Dallas private equity firm Elm Creek Partners. CAPITAL BOOST FOR SIMULATOR MAKER TRAINING Montreal, Canada-based simulator maker Mechtronix World has attracted a $39C million ($35.1 million) capital injection by private equity company Richardson Capital. Richardson's chief executive David Brown joins the Mechtronix board. LOAD-DATE: October 15, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 548 words Business briefs TATA BUYS INTO PIAGGIO AERO INVESTMENT Tata, a UK subsidiary of India's Tata industrial group, is to acquire a roughly one-third share in Piaggio Aero, to become one of three primary shareholders alongside the Ferrari and Di Mase families and the Abu Dhabi government investment company, Mubadala Development. Tata's proposed investment consists of limited purchase of shares and an injection of new share capital, believed to amount to ?100 million ($138 million), to enable Piaggio to expand production and offer its Pratt & Whitney Canada PT6-66B-powered P180 Avanti II to new markets, including India. Piaggio chief executive Jos? Di Mase describes Tata as "a highly ethical and selective investor", whose industrial expertise will benefit the aircraft and engine maker. The deal is subject to regulatory approval. ROMANIA BACK TO START WITH AVIOANE CRAIOVA PRIVATISATION Romanian manufacturer Avioane Craiova's privatisation has returned to square one, disappointing Czech firm Aero Vodochody, which was the sole remaining bidder. Aero Vodochody was planning to restructure Avioane Craiova, which dates to 1972 and is active in civil and military aerospace manufacturing and maintenance, and use the acquisition to strengthen its aerostructures business. Romania privatisation agency AVAS says it has abandoned its attempt to sell an 81% stake in the manufacturer after the two sides failed to agree contractual terms within the allotted timeframe. The Czech firm still plans to participate in the tender for Romanian aerospace firm IAR Ghimbav. AVAS says a fresh Avioane Craiova privatisation attempt, again covering 81% of the company, will be launched as a matter of priority. MTU PLANS ?50M COST-SAVING DRIVE COMPETITIVENESS German powerplant specialist MTU Aero Engines is embarking on a cost-reduction initiative across its entire production chain, to save ?50 million ($70 million) a year from 2011. The "Challenge 2010" scheme will initially generate ?25-30 million to 2010, with this figure increasing from the following year. Chief executive Egon Behle says that, while MTU's financial forecast is still on track, the scheme will "enduringly secure" the company's competitiveness and "cushion the impact of a slump, if it comes". He adds that the programme will also help offset costs from research and development and new projects. CAPITAL START FOR NEW LESSOR LEASING Start-up lessor Capital Lease Aviation made a ?1.11 million ($1.97 million) pre-tax profit on aircraft rental revenues of ?1.75 million in its first year of operation, to 30 June. Since September 2007 the company has acquired six aircraft - three Fokker 100s, one Airbus A320 and two Airbus A321-200s, valued at ?55.9 million. Chairman Jeff Chatfield says: "Profit levels are as expected given our limited history." AIRBUS CLOSES LAUPHEIM SALE POWER8 The sale of the Airbus aircraft interiors production site in Laupheim, Germany to Diehl/Thales closed on 1 October. The sale is part of the airframer's Power8 restructuring programme. DMA AND SBAC IN MERGER TALKS TRADE GROUPS Two leading UK aerospace trade associations, the Defence Manufacturers Association
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and the Society of British Aerospace Companies, are in co-operation discussions that could lead to a merger, the groups announced last week. LOAD-DATE: October 7, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
SECTION: BUSINESS LENGTH: 571 words Business briefs GREEN TAXES 'SHOULD FAVOUR TURBOPROPS' EMISSIONS VLM Airlines chief executive Johan Vanneste is calling for the green credentials of turboprops to be reflected in environmental charges, such as air passenger duty in the UK. The Belgian regional carrier, which is being acquired by Air France-KLM, operates a fleet of 18 Fokker 50 turboprops. Speaking during a recent media briefing in Manchester, Vanneste said: "Several studies show us that high-speed rail is less efficient than air travel. There is no smoke coming out of electric trains, but the smoke is coming out of the powerplants. High-speed rail, if you take everything into account, is much more polluting," he says. Within the aviation sector, he said, taxation needs to differentiate between turboprops and jets, with turboprops paying "considerably less" air passenger duty. CURTISS-WRIGHT SECURES FUTURE 787 ROLE CONTRACT A multi-year contract worth more than $80 million continues the role of Curtiss-Wright Controls on the Boeing 787. The follow-on contract with 787 contractor Saab Aerostructures means the New Jersey-based manufacturer will keep providing the large cargo door mechanical system. The deal also includes a follow-on contract for Curtiss-Wright to supply structural fittings for the 787's large cargo door to Saab. Both deals could generate more than $200 million in revenue for Curtiss-Wright over the life of the 787 programme.
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FLIGHT SAFETY TECHNOLOGIES DELISTS FROM AMEX TRADING Flight Safety Technologies has withdrawn an appeal to contest the decision of the American Stock Exchange to initiate delisting of its common stock and common stock purchase warrants from the Amex because of the failure of the company to maintain $4 million of shareholder equity and losses in three of its four last fiscal years. The company intends to transition its securities for trading to the Over-the-Counter Bulletin Board. FUEL COSTS DRIVE AERO INVENTORY OUTLOOK RESULTS Aerospace industry e-based procurement and inventory management systems developer Aero Inventory boosted pre-tax profits by 60% to $73.1 million on revenue up 78% to $440 million for its year to 30 June. Chief executive Rupert Lewin says: "Airlines are now being forced to react to the impact of both increased fuel costs and recessionary pressures and this has resulted in more enquiries for new business than ever before." ENGINE WASHING TURNS A PROFIT RESULTS Engine cleaning technology provider Gas Turbine Efficiency posted a pre-tax profit of $400,000 for the six months to 30 June, compared with an $800,000 loss last time, as revenue rose 58% to $14.7 million. Aviation revenues included orders from Pratt & Whitney, whose on-wing wash service signed contracts including Singapore Airlines, Southwest and United Airlines. ETIHAD EXPECTS TO DOUBLE NETWORK BY 2020 AIRLINES Middle Eastern carrier Etihad Airways is forecasting that it will transport 25 million passengers a year by 2020, and double its network to 100 destinations. The carrier detailed its expectations after disclosing that it carried 1.6 million passengers over the June-August summer season. Abu Dhabi-based Etihad placed orders earlier this year for 45 Boeing and 55 Airbus aircraft. "Our projections to 2020 reflect that order and the scale of our ambitions," says chief James Hogan. Etihad's network currently includes 48 destinations and the airline expects to carry 6 million passengers this year. LOAD-DATE: October 1, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 575 words Business briefs FALCON DELIVERIES UP AT DASSAULT RESULTS Dassault Aviation had a mixed first half, with orders, sales and profits all falling short of their levels from the same period last year while the Falcon business jets unit made solid headway. During a first half marked by the launch of the winglet-equipped Falcon 900LX, which replaces the 900EX, Falcon sales were up 6.8% to ?1.1 billion ($1.6 billion), deliveries rose to 34 units from 29 last time, and orders held steady at 87 units, including 23 to NetJets, though order value fell 23.8% to ?1.89 billion. In defence, sales fell 42% to ?440 million, while orders during the period edged up marginally to ?560 million. Overall, the company saw net profit fall 9.2% to ?167 million on sales down 14% at ?1.54 billion. The orderbook increased during the half 5.7% to ?15.84 billion. IFE SALES STRONG DESPITE DOWNTURN: PANASONIC ENTERTAINMENT Soaring fuel prices, a weakening US economy and other industry challenges have not affected Panasonic Avionics' in-flight entertainment business, a top company official says. Strategic product marketing director David Bruner says carriers "with a longer vision, and not as worried about the day-to-day swing in oil prices" are looking at the current downturn as an opportunity to differentiate themselves from the competition: "They are rising forward and some of them that are strong are looking at this as an opportunity to distance themselves in the marketplace." Separately, Aircell has signed a fourth, as-yet unidentified, customer for its in-flight broadband service, which is dubbed Gogo, following deals with American Airlines, Delta Air Lines and Virgin America. Gogo runs via an air-to-ground link, but satellite technology may later supply overseas services. See Feature P36 STRUGGLING ZOOM GRINDS TO A HALT AIRLINES Transatlantic operator Zoom Airlines has suspended operations after failing to secure a refinancing package. The carrier had planned to appoint an administrator and seek creditor protection after operations had been disrupted following the debt-related seizure last week of one of its Boeing 767s. Zoom's two divisions, based in Ottawa and at London Gatwick, operate 767s and 757s. Citing "the horrendous increase in the price of aviation fuel and the economic climate" for Zoom's troubles, executive chairman Hugh Boyle says: "We have done everything we can to support the airline and left no stone unturned to secure a refinancing package that would have kept our aircraft flying." LUFTHANSA MAY BUY BRUSSELS AIRLINES PARENT ACQUISITION Lufthansa is negotiating a ?65 million ($96 million) strategic investment in Brussels Airlines' parent company SN Airholding, initially giving it a 45% stake in the company and an option on the remaining 55% after two years. Brussels Airlines serves a number of European destinations and is well established in Africa.The deal is subject to approval by Lufthansa's supervisory board, SN Airholding's board and shareholders, and regulators. TURKISH AIRLINES DECLARES INTEREST IN AUSTRIAN PRIVATISATION Turkish Airlines has joined Lufthansa on the list of declared interested bidders in Austrian Airlines Group's privatisation by submitting a letter of intent to state holding company OIAG. OIAG is selling
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its 42.75% stake in the Austrian Airlines Group. Local media reports suggest that Russian carrier S7, Air France-KLM and Air China may also be interested in buying OIAG's Austrian stake. LOAD-DATE: September 25, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
BYLINE: Dan Thisdell SECTION: BUSINESS LENGTH: 602 words Business briefs AIRBUS SEALS LAUPHEIM SALE, 'CLOSE' TO FILTON RESTRUCTURING Airbus has finalised the sale of its ?240 million ($373 million) annual turnover Laupheim cabin interiors plant to its preferred bidder, a partnership between Diehl and Thales. The deal, which is subject to competition clearance, includes dollar-based contracts for A350 XWB crew rest compartments, complete cabin linings and overhead bins. Separately, GKN says it is close to concluding an agreement to acquire the Airbus wing aerostructures facility at Filton and sourcing a major package of work on the A350 XWB twinjet. That forecast came as the firm unveiled a half-year aerospace division trading profit of ?47 million ($91.5 million), up by 24% on the first half of last year, while sales for the six-month period increased by a similar proportion to ?467 million. GKN expects that finalising a deal with Airbus, which should be completed by year-end, would increase its annual revenues by around ?400 million. BAE CUTS LOSSES BUT OUTLOOK REMAINS DISMAL REGIONAL AIRCRAFT BAE Systems' regional aircraft management business turned in a much-reduced loss of ?2 million ($4 million) for the first half of this year, compared with its 2007 interim deficit of ?65 million, but the company admits it does not foresee the activity becoming profitable in the near term. BAE's regional
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aircraft division secured new leases or extensions for 32 aircraft over the six-month period, including nine Avro RJ100s for Sweden's Malmo Aviation. K&F ACQUISITION LIFTS MEGGITT HALF-YEAR ENGINEERING Meggitt's aerospace activity has more than doubled its underlying operating profit to ?104.5 million ($204 million) for the first half of this year. The company's aerospace revenues were up by 88% to ?351 million over the six months to 30 June, reflecting in part its acquisition last year of US engineering company K&F Industries. Meggitt derived about 25% of its first-half revenues from the civil large jet market, with another 11% from the regional sector. AEROFLOT RESPONDS COLDLY TO JAT SALE PRICE PRIVATISATION Aeroflot has indicated reluctance to bid for a shareholding in Serbia's Jat Airways unless the terms set by Serbia's government take full account of its financial situation and the fuel-price environment. The country's privatisation agency has invited expressions of interest in 51% of Jat after reducing the minimum asking price to ?51 million ($79 million). Over the past year Aeroflot has declared its interest, but while final tender documents should be released by the end of August, Aeroflot says: "The government is stipulating such sale terms that we'll hardly participate in the bidding." Jat general director Sasa Vlaisavljevic is reported as stating that the carrier still owes ?209 million to creditors. Lockheed martin buys Australian venture acquisition Lockheed Martin is boosting its presence in Australia by buying out joint venture partner Tenix to take full ownership of radar, systems engineering and integration and logistics management company RLM Holdings. The acquisition by Lockheed Martin, which follows completion in June of the sale of Tenix's defence business to BAE Systems Australia, is subject to approval by Australia's Foreign Investment Review Board. The Adelaide-based company employs more than 250 people and is primarily involved in the ongoing maintenance, support and enhancement of Australia's wide-area surveillance over-the-horizon Jindalee Operational Radar Network. Meanwhile, Tenix is evaluating the sale of repair and overhaul operation Tenix Aviation following a number of unsolicited enquiries. LOAD-DATE: August 12, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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BYLINE: Dan Thisdell SECTION: BUSINESS LENGTH: 617 words PARA:: business briefs PARA::AIRBUS SEALS LAUPHEIM SALE, 'CLOSE' TO FILTON PARA::RESTRUCTURING Airbus has finalised the sale of its 240 million ($373 million) annual turnover Laupheim cabin interiors plant to its preferred bidder, a partnership between Diehl and Thales. The deal, which is subject to competition clearance, includes dollar-based contracts for A350 XWB crew rest compartments, complete cabin linings and overhead bins. Separately, GKN says it is close to concluding an agreement to acquire the Airbus wing aerostructures facility at Filton and sourcing a major package of work on the A350 XWB twinjet. That forecast came as the firm unveiled a half-year aerospace division trading profit of 47 million ($91.5 million), up by 24% on the first half of last year, while sales for the six-month period increased by a similar proportion to 467 million. GKN expects that finalising a deal with Airbus, which should be completed by year-end, would increase its annual revenues by around 400 million. PARA:: PARA::BAE CUTS LOSSES BUT OUTLOOK REMAINS DISMAL PARA::REGIONAL AIRCRAFT BAE Systems' regional aircraft management business turned in a much-reduced loss of 2 million ($4 million) for the first half of this year, compared with its 2007 interim deficit of 65 million, but the company admits it does not foresee the activity becoming profitable in the near term. BAE's regional aircraft division secured new leases or extensions for 32 aircraft over the six-month period, including nine Avro RJ100s for Sweden's Malmo Aviation. PARA:: PARA::K&F ACQUISITION LIFTS MEGGITT HALF-YEAR PARA::ENGINEERING Meggitt's aerospace activity has more than doubled its underlying operating profit to 104.5 million ($204 million) for the first half of this year. The company's aerospace revenues were up by 88% to 351 million over the six months to 30 June, reflecting in part its acquisition last year of US engineering company K&F Industries. Meggitt derived about 25% of its first-half revenues from the civil large jet market, with another 11% from the regional sector. PARA::AEROFLOT RESPONDS COLDLY TO JAT SALE PRICE PARA::PRIVATISATION Aeroflot has indicated reluctance to bid for a shareholding in Serbia's Jat Airways unless the terms set by Serbia's government take full account of its financial situation and the fuel-price environment. The country's privatisation agency has invited expressions of interest in 51% of Jat after reducing the minimum asking price to 51 million ($79 million). Over the past year Aeroflot has declared its interest, but while final tender documents should be released by the end of August, Aeroflot says: "The government is stipulating such sale terms that we'll hardly participate in the bidding." Jat general director Sasa Vlaisavljevic is reported as stating that the carrier still owes 209 million to creditors. PARA::Lockheed martin buys Australian venture PARA::acquisition Lockheed Martin is boosting its presence in Australia by buying out joint venture partner
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Tenix to take full ownership of radar, systems engineering and integration and logistics management company RLM Holdings. The acquisition by Lockheed Martin, which follows completion in June of the sale of Tenix's defence business to BAE Systems Australia, is subject to approval by Australia's Foreign Investment Review Board. The Adelaide-based company employs more than 250 people and is primarily involved in the ongoing maintenance, support and enhancement of Australia's wide-area surveillance over-the-horizon Jindalee Operational Radar Network. Meanwhile, Tenix is evaluating the sale of repair and overhaul operation Tenix Aviation following a number of unsolicited enquiries. PARA:: PARA:: LOAD-DATE: November 5, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
BYLINE: Niall O'Keeffe SECTION: BUSINESS LENGTH: 537 words Business briefs EADS TO EXTEND POWER8 PROGRAMME RESTRUCTURING Airbus owner EADS is to extend its cost-cutting programme in a bid to diminish the impact of the weak dollar on its business. When the existing Power8 plan expires in 2010, it will be replaced by a new group-wide "Power8 Plus" programme, which is expected to deliver a saving of ?1 billion ($1.6 billion) in the period 2011-12. Details of the programme will be presented to EADS's European works council in the autumn. "Power8 Plus targets a more internationalised cost base, compared with a current one dominated by the euro," says EADS, adding that Power8 was "over-performing" and had achieved EBIT
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contribution of around ?400 million in the first half of 2008. REDUCED COMMUNICATIONS BOOST SAFRAN DIVESTMENT French conglomerate Safran, formed in a 2004 merger of aerospace group Snecma and communications group Sagem, has announced first-half profits and a further streamlining of its business. Despite a negative currency impact of ?355 million ($557 million), Safran achieved a first-half profit from operations of ?474 million, and a first-half profit from recurring operations (excluding capital gains) of ?328 million. The latter compares with ?311 million for the first half of 2007, though the 2007 figure rises to ?381 million if communications are excluded. In January, Safran completed the sale of Sagem Communications to US private-equity firm The Gores Group for an enterprise value of ?383 million. Furthering its strategic shift out of communications, it last week agreed to sell its mobile phone business, Sagem Mobiles, to French venture capital firm Sofinnova. BAE CLOSES IN ON NATIONAL SECURITY FIRM DEFENCE BAE Systems has made a recommended offer for Detica Group, a UK-based provider of IT services to what BAE terms the national security and resilience (NS&R) sector. At 440p per share, the offer values Detica at ?538 million ($1.1 billion). Headquartered at Guildford, UK, Detica counts the Ministry of Defence among its customers. The NS&R sector it serves will double in value to more than ?3 billion by 2011, predicts BAE. EMBRAER TO BOOST PORTUGUESE PRESENCE MANUFACTURING Embraer is to invest in two new manufacturing centres in the southern Portuguese city of Evora. One will focus on metallic assemblies and will require investment of ?100 million ($157 million) over six years. The other, a composites manufacturing facility, will be funded to the tune of ?48 million. Both facilities will be highly automated, in keeping with the Brazilian airframer's lean manufacturing philosophy. TROUBLED FRONTIER LANDS DIP FINANCING CHAPTER 11 Private-equity firm Perseus, of Washington DC, has agreed to provide $75 million in debtor-in-possession (DIP) financing to Frontier Airlines, which filed for Chapter 11 bankruptcy protection in April. Under an equity sponsorship arrangement, Perseus has an option to purchase 79.9% of the equity in the reorganised company for $100 million. B/E ABSORBS HONEYWELL CONSUMABLES UNIT ACQUISITION B/E Aerospace has completed the acquisition of Honeywell's consumable solutions distribution business. The combined businesses are expected to generate more than 50% of B/E Aerospace's operating earnings in 2009. LOAD-DATE: August 12, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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BYLINE: Niall O'Keeffe SECTION: BUSINESS LENGTH: 552 words PARA:: business briefs PARA::EADS TO EXTEND POWER8 PROGRAMME PARA::RESTRUCTURING Airbus owner EADS is to extend its cost-cutting programme in a bid to diminish the impact of the weak dollar on its business. When the existing Power8 plan expires in 2010, it will be replaced by a new group-wide "Power8 Plus" programme, which is expected to deliver a saving of 1 billion ($1.6 billion) in the period 2011-12. Details of the programme will be presented to EADS's European works council in the autumn. "Power8 Plus targets a more internationalised cost base, compared with a current one dominated by the euro," says EADS, adding that Power8 was "over-performing" and had achieved EBIT contribution of around 400 million in the first half of 2008. PARA::REDUCED COMMUNICATIONS BOOST SAFRAN PARA::DIVESTMENT French conglomerate Safran, formed in a 2004 merger of aerospace group Snecma and communications group Sagem, has announced first-half profits and a further streamlining of its business. Despite a negative currency impact of 355 million ($557 million), Safran achieved a first-half profit from operations of 474 million, and a first-half profit from recurring operations (excluding capital gains) of 328 million. The latter compares with 311 million for the first half of 2007, though the 2007 figure rises to 381 million if communications are excluded. In January, Safran completed the sale of Sagem Communications to US private-equity firm The Gores Group for an enterprise value of 383 million. Furthering its strategic shift out of communications, it last week agreed to sell its mobile phone business, Sagem Mobiles, to French venture capital firm Sofinnova. PARA::BAE CLOSES IN ON NATIONAL SECURITY FIRM PARA::DEFENCE BAE Systems has made a recommended offer for Detica Group, a UK-based provider of IT services to what BAE terms the national security and resilience (NS&R) sector. At 440p per share, the offer values Detica at 538 million ($1.1 billion). Headquartered at Guildford, UK, Detica counts the Ministry of Defence among its customers. The NS&R sector it serves will double in value to more than 3 billion by 2011, predicts BAE. PARA::EMBRAER TO BOOST PORTUGUESE PRESENCE PARA::MANUFACTURING Embraer is to invest in two new manufacturing centres in the southern Portuguese city of Evora. One will focus on metallic assemblies and will require investment of 100 million ($157 million) over six years. The other, a composites manufacturing facility, will be funded to the tune of 48 million. Both facilities will be highly automated, in keeping with the Brazilian airframer's lean manufacturing
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philosophy. PARA::TROUBLED FRONTIER LANDS DIP FINANCING PARA::CHAPTER 11 Private-equity firm Perseus, of Washington DC, has agreed to provide $75 million in debtor-in-possession (DIP) financing to Frontier Airlines, which filed for Chapter 11 bankruptcy protection in April. Under an equity sponsorship arrangement, Perseus has an option to purchase 79.9% of the equity in the reorganised company for $100 million. PARA::B/E ABSORBS HONEYWELL CONSUMABLES UNIT PARA::ACQUISITION B/E Aerospace has completed the acquisition of Honeywell's consumable solutions distribution business. The combined businesses are expected to generate more than 50% of B/E Aerospace's operating earnings in 2009. PARA:: PARA:: LOAD-DATE: November 5, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
SECTION: BUSINESS LENGTH: 570 words BUSINESS briefs Strong widebody market lifts Rolls-Royce ENGINES Rolls-Royce's civil aerospace business turned in a 4% increase in underlying first-half profit to
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?272 million ($543 million) as increased deliveries of Airbus A320 engines and aftermarket sales boosted sales 5% to ?2.1 billion. In defence aerospace, sales dropped 5% to ?769 million and profits dipped slightly to ?104 million, although demand was strong in the USA, which accounts for 45% of segment sales. R-R says civil aviation will "not be immune" to the effects of high oil prices, constraints on financing and the economic downturn, but it predicts full-year profitable growth on the back of a "resilient" widebody and corporate market, adding that the "relative youth and fuel efficiency" of the aircraft to which its engines are fitted means they are "less likely" to be grounded than older types. FUNDING CRISIS HITS CRACK DETECTION MAKER LAYOFFS Structural Monitoring Systems is letting go of its workforce after failing to secure funding to continue commercialisation of its Comparative Vacuum Monitoring structural integrity system. The Perth, Western Australia-based company had been making inroads into the aerospace market with its crack detection technology but has been hit by the current state of financial markets and the Australian government's decision to scrap the Commercial Ready grant programme. The company is in talks with potential investors. UK, FRENCH AEROSPACE CLUSTERS JOIN FORCES INDUSTRY An Anglo-French tie-up between the Farnborough Aerospace Consortium and the Toulouse-based Aerospace Valley innovation cluster hopes to boost their regions' supply chain, technology and skills development. FAC chairman Sir Donald Spiers and Aerospace Valley president Jean-Marc Thomas have agreed to form a joint steering board guide and implement collaborative programmes to improve industrial and academic competitiveness. GENERAL DYNAMICS RIDES GULFSTREAM RESULTS General Dynamics' aerospace business ramped up second quarter operating profit by a fifth to $240 million on sales up 10% to nearly $1.34 billion year-on-year, the maker of Gulfstream business jets saw its backlog rise 86% to $18.8 billion. Chief executive Nicholas Chabraja says: "Growth in the aerospace backlog is a reflection of continued demand for the entire existing product line and extremely strong demand for the new Gulfstream G650." The company delivered 76 aircraft in the first half, up from 66 last time. HAMILTON SUNDSTRAND SELLS ACTUATORS UNIT ACQUISITION London-based private equity investor Stirling Square Capital Partners has bought Italian flight actuation systems maker Microtecnica from Hamilton Sundstrand for an undisclosed sum. Microtecnica employs 686 people at three sites in northern Italy and had 2007 sales of ?124 million ($195 million) customers include Hamilton Sundstrand, AgustaWestland, Airbus, Alenia, Avio and Bombardier. Chief executive Alan Bean will remain in place. AERO VODOCHODY LOOKS TO THE EAST PRIVATISATION Following its acquisition of trainer manufacturer Avioane Craiova, Aero Vodochody is participating in another Romanian privatisation. The Czech company has bid for a controlling stake in helicopter manufacturer IAR Ghimbav, ahead of a bid deadline of 15 September. It is also seeking a stake in helicopter manufacturer PZL-Swidnik, in which the Polish state owns a controlling interest and AgustaWestland a stake of 6%. LOAD-DATE: August 19, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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SECTION: BUSINESS LENGTH: 584 words PARA:: BUSINESS briefs PARA::Strong widebody market lifts Rolls-Royce PARA::ENGINES Rolls-Royce's civil aerospace business turned in a 4% increase in underlying first-half profit to 272 million ($543 million) as increased deliveries of Airbus A320 engines and aftermarket sales boosted sales 5% to 2.1 billion. In defence aerospace, sales dropped 5% to 769 million and profits dipped slightly to 104 million, although demand was strong in the USA, which accounts for 45% of segment sales. R-R says civil aviation will "not be immune" to the effects of high oil prices, constraints on financing and the economic downturn, but it predicts full-year profitable growth on the back of a "resilient" widebody and corporate market, adding that the "relative youth and fuel efficiency" of the aircraft to which its engines are fitted means they are "less likely" to be grounded than older types. PARA::FUNDING CRISIS HITS CRACK DETECTION MAKER PARA::LAYOFFS Structural Monitoring Systems is letting go of its workforce after failing to secure funding to continue commercialisation of its Comparative Vacuum Monitoring structural integrity system. The Perth, Western Australia-based company had been making inroads into the aerospace market with its crack detection technology but has been hit by the current state of financial markets and the Australian government's decision to scrap the Commercial Ready grant programme. The company is in talks with potential investors. PARA::UK, FRENCH AEROSPACE CLUSTERS JOIN FORCES PARA::INDUSTRY An Anglo-French tie-up between the Farnborough Aerospace Consortium and the Toulouse-based Aerospace Valley innovation cluster hopes to boost their regions' supply chain, technology and skills development. FAC chairman Sir Donald Spiers and Aerospace Valley president Jean-Marc Thomas have agreed to form a joint steering board guide and implement collaborative programmes to improve industrial and academic competitiveness. PARA::GENERAL DYNAMICS RIDES GULFSTREAM PARA::RESULTS General Dynamics' aerospace business ramped up second quarter operating profit by a fifth to $240 million on sales up 10% to nearly $1.34 billion year-on-year, the maker of Gulfstream business jets saw its backlog rise 86% to $18.8 billion. Chief executive Nicholas Chabraja says: "Growth in the aerospace backlog is a reflection of continued demand for the entire existing product line and extremely
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strong demand for the new Gulfstream G650." The company delivered 76 aircraft in the first half, up from 66 last time. PARA::HAMILTON SUNDSTRAND SELLS ACTUATORS UNIT ACQUISITION London-based private equity investor Stirling Square Capital Partners has bought Italian flight actuation systems maker Microtecnica from Hamilton Sundstrand for an undisclosed sum. Microtecnica employs 686 people at three sites in northern Italy and had 2007 sales of 124 million ($195 million) customers include Hamilton Sundstrand, AgustaWestland, Airbus, Alenia, Avio and Bombardier. Chief executive Alan Bean will remain in place. PARA::AERO VODOCHODY LOOKS TO THE EAST PARA::PRIVATISATION Following its acquisition of trainer manufacturer Avioane Craiova, Aero Vodochody is participating in another Romanian privatisation. The Czech company has bid for a controlling stake in helicopter manufacturer IAR Ghimbav, ahead of a bid deadline of 15 September. It is also seeking a stake in helicopter manufacturer PZL-Swidnik, in which the Polish state owns a controlling interest and AgustaWestland a stake of 6%. PARA:: PARA:: LOAD-DATE: November 5, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
SECTION: BUSINESS LENGTH: 563 words BUSINESS briefs GOODRICH WINS $600M C-5 RE-ENGINING CONTRACTS
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AIRLIFTERS Goodrich has won contracts worth $600 million, excluding aftermarket revenue, from Lockheed Martin and General Electric Aircraft Engines to supply pylons and nacelle systems for the US Air Force C-5 Galaxy strategic airlifter Reliability Enhancement and Re-engining Program (RERP). The Lockheed Martin contract calls for Goodrich to supply 36 pylons for nine aircraft in the RERP, while under the GEAE contract it is to supply 196 nacelle systems to house the GE CF6-80C2 engines that will power all 49 C-5Ms in the RERP. Work will be performed by Goodrich's Aerostructures teams in California and Alabama. Each Lockheed Martin C-5M transport aircraft will be powered by four CF6-80C2 engines. The US Air Force plans to re-engine 49 of its fleet of 111 C-5s through the year 2015. UK TOPS WORLD ARMS SALES LEAGUE DEFENCE Eurofighter Typhoon sales helped make 2007 the UK's best-ever year for defence exports. In winning ?10 billion ($19 billion) in new business, the UK also led the world in exports with a 33% share of the global market, according to figures from the UK Trade & Investment's Defence and Security Organisation. Over the past five years, the top exporters based on cumulative values have been the USA with $63 billion, the UK ($53 billion), Russia ($33 billion) and France ($17 billion), followed by Germany and Israel ($9 billion each). The UKTI DSO says 2007 world figures followed a trend of gradual increases attributable to operations in Afghanistan and Iraq greater spending on homeland security the increase in unit cost of equipment and services the improvement in Russia's export performance and higher spending in the Middle East. 'NO WAY BACK' FOR COLLAPSED SILVERJET AIRLINES UK all-business carrier Silverjet's management team has abandoned attempts to resurrect the collapsed airline after a last-ditch funding agreement fell through. Silverjet went into administration after being forced to suspend flights on 30 May. A proposed rescue, through a Swiss trust, failed on 13 June and the staff of the London Luton-based carrier were made redundant. Silverjet had been operating Boeing 767s to New York Newark and Dubai. EXCHANGE RATES DULL ZODIAC'S TURNOVER RESULTS Revenue growth at French aerospace equipment specialist Zodiac was undermined in the nine months to end May by movements in the dollar-euro exchange rate. Revenue of ?1.4 million ($2.2 million) was up just 0.6% - but the firm says growth would have been 10.7% without adverse exchange rate movements. FACTORY MOVE CONTINUES TO UPSET AEROSONIC REVENUES Florida cockpit displays and sensors maker Aerosonic lost $236,000 in its first quarter ended 2 May, compared with a $62,000 profit in the corresponding period last year, on revenue down 2.5% to $6.65 million, as the cost of moving production from a Virginia plant to its Clearwater, Florida location continued to take a toll. The move contributed to a $3.4 million loss for the year ended 31 January. JOINT COMPANY TO VIE FOR EUROPEAN SUPPORT SUPPORT Diehl Aerospace, Liebherr Aerospace, Safran, Thales and Zodiac are to create a company called OEM Defence Services to provide European armed forces with through-life support solutions for their aerospace equipment. Diehl avionics feature on aircraft including the Eurocopter NH90 and Tiger, Eurofighter, Tornado and A400M. LOAD-DATE: June 24, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 573 words Business briefs AIRBUS SELECTS DIEHL-THALES FOR LAUPHEIM SITE OUTSOURCING Airbus has selected the Diehl-Thales partnership as its preferred bidder to take over its plant at Laupheim in Germany, which specialises in cabin interiors. The Laupheim site is the seventh facility to feature in Airbus's divestment plans under its Power8 restructuring strategy, alongside three other German plants, two in France and one in the UK. Diehl and Thales's partnership had been one of two shortlisted bidders for the site, alongside French firm Zodiac. Airbus has so far been unable to conclude the divestment process for its other plants in Germany and France, but talks are continuing on the sale of part of it UK facility at Filton to GKN. BOMBARDIER AEROSPACE POSTS BRIGHT QUARTER AIRFRAMERS Bombardier Aerospace is heralding a strong first quarter performance after nearly doubling its EBIT to $206 million revenue was up 4% to $2.4 billion for the three months ended 30 April. Bombardier delivered 87 aircraft, up from 78 during the first quarter of 2007. The deliveries comprised 58 business jets, 28 commercial aircraft and a single amphibious example. During the quarter Bombardier Aerospace received 118 net orders - 60 business and 58 commercial aircraft - compared with 174 last time. Its order backlog stood at $24.1 billion on 30 April. CARBON IS BLACK GOLD FOR HAMPSON SUPPLIERS Hampson, the London-listed engineering group, turned in a strong aerospace performance in its year to 31 March thanks to rising demand for carbon composite structures and better than expected performance from acquired companies. Aerospace components and structures trading profit rose 15% to ?12.7 million ($24.8 million) on revenue up 11% to ?89 million and composites and transparencies' profit rose 50% to nearly ?10 million on revenue up 26% to nearly ?46 million. With acquisitions of Odyssey Industries and Global Tooling Systems, expected to close on 9 June, more than half of future revenue will be linked to aerospace use carbon composites.
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FRESH HOPES FOR ALITALIA SALE PROGRESS PRIVATISATION Prospects of progress in Italy's long-running effort to privatise its ailing flag carrier were raised last week with the suspension of trading in Alitalia shares on the Milan stock exchange. The Italian government last month approved a new decree easing guidelines covering the privatisation, and appointed Italian bank Intesa Sanpaolo as consultant to its sale effort. HEXCEL TO SUPPLY COMPOSITES FOR A350 AEROSTRUCTURES Stamford, Connecticut-based structural materials firm Hexcel won a contract to supply carbonfibre composite materials for major primary structures of the Airbus A350 XWB family through 2025, expected to generate revenues of $4 billion to $5 billion. Hexcel is offering other composite products for consideration for use in secondary structures and interiors for the A350 XWB. THALES POISED FOR GROWTH AFTER RESTRUCTURE MANAGEMENT Thales is restructuring its Aerospace division, regrouping its activities into three sectors as it seeks to further its growth strategy. With effect from 1 June the division is in three sectors - aircraft, governments, and services and business transformation - headed by Emmanuel Grave, Pierre-Yves Chaltiel and Pierre-Eric Pommellet, respectively. Thales has also brought together supply chain, purchasing, programme management and quality and continuous improvement initiatives under operations director Alain Paul. LOAD-DATE: June 12, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International April 8, 2008
INTRODUCTION:
SECTION: BUSINESS LENGTH: 553 words Business briefs
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Russia's OAK proposes new aerospace centre EXPANSION OAK, the holding company for much of Russia's consolidated aircraft industry, hopes to set up a 150ha (370-acre) design and manufacturing site in north-east Moscow's Khodinskoye Polye district. If approved, the site would be an adjunct to existing facilities, according to sources quoted in the Russian press. The proposal is an apparent reversal of an earlier decision announced by President Putin this year to base OAK at the Zhukovsky airfield in Moscow region, home of the Gromov LII flight test centre. The main experimental divisions of the aircraft industry will remain at Zhukovsky. Two aviation universities, based on the exising Moscow Aviation Institute and Moscow Physics and Technology Institute, will also be included on the site. union welcomes Boeing's 787 supply move OUTSOURCING A major Boeing union has hailed the airframer's decision to reclaim a formerly outsourced role within the 787 production system. The Society of Professional Engineering Employees in Aerospace (SPEEA), representing 22,000 Boeing staff, called Boeing's move to buy Vought Aircraft's 50% stake in the Charleston, South Carolina-based Global Aeronautica joint venture with Alenia Aeronautica a "necessary first step" to restoring the health of the 787 programme. SPEEA and Boeing will begin talks on a new contract in October. Outsourcing is expected to be contentious. G650 boost for CPI Aerostructures SUPPLY CHAIN CPI Aerostructures turned a $1.9 million 2006 pre-tax loss into a $3 million profit in 2007 on revenue up 56% to nearly $28 million. Chief executive Edward Fred attributed the improvement to efforts to increase subcontracting and commercial business and expects 2008 revenue to reach $35 million. CPI recently won a multi-year contract, with an initial order of $3.5 million to provide Gulfstream G650 structural assemblies to Spirit AeroSystems. Filter specialist boosts aviation prospects acquisition Liquid filtration specialist Porvair hopes to boost its aviation business with new south of England manufacturing facilities and the acquisition of a key supplier, Toolturn of Fareham, Hampshire, for ?1 million ($2 million) spread over three years. Buying Toolturn secures scarce engineering skills for Porvair's Microfiltrex subsidiary, says chief executive Ben Stocks. Porvair supplies fuel and hydraulic fluid filters for most commercial airframes. In its year to the end of November, Porvair made a pre-tax profit of ?3.6 million on sales of ?45.5 million, and aviation filtration sales are up 40% over the past two years. SATURN BOLTED on to ACUMENT FASTENERS Troy, Michigan-headquartered fasteners maker Acument Global Technologies has bought, for an undisclosed sum, high-performance aerospace threaded fastener maker Saturn Fasteners of Burbank, California. In March, Acument re-entered the threaded aerospace fastener market by opening a new manufacturing operation, Camcar Aerospace, in Rockford, Illinois. Park acquires Nova Composites purchase Park Aerospace Structures has purchased Lynwood, Washington-based Nova Composites, for about $4.5 million, plus up to $5.5 million over the next five years, depending on performance. Nova, which was marginally profitable on $2 million revenue in 2007, will trade as Park Aerospace Structures. LOAD-DATE: August 19, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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Flight International April 8, 2008

SECTION: BUSINESS LENGTH: 568 words PARA:: business briefs PARA::Russia's OAK proposes new aerospace centre PARA::EXPANSION OAK, the holding company for much of Russia's consolidated aircraft industry, hopes to set up a 150ha (370-acre) design and manufacturing site in north-east Moscow's Khodinskoye Polye district. If approved, the site would be an adjunct to existing facilities, according to sources quoted in the Russian press. The proposal is an apparent reversal of an earlier decision announced by President Putin this year to base OAK at the Zhukovsky airfield in Moscow region, home of the Gromov LII flight test centre. The main experimental divisions of the aircraft industry will remain at Zhukovsky. Two aviation universities, based on the exising Moscow Aviation Institute and Moscow Physics and Technology Institute, will also be included on the site. PARA::union welcomes Boeing's 787 supply move PARA::OUTSOURCING A major Boeing union has hailed the airframer's decision to reclaim a formerly outsourced role within the 787 production system. The Society of Professional Engineering Employees in Aerospace (SPEEA), representing 22,000 Boeing staff, called Boeing's move to buy Vought Aircraft's 50% stake in the Charleston, South Carolina-based Global Aeronautica joint venture with Alenia Aeronautica a "necessary first step" to restoring the health of the 787 programme. SPEEA and Boeing will begin talks on a new contract in October. Outsourcing is expected to be contentious. PARA::G650 boost for CPI Aerostructures PARA::SUPPLY CHAIN CPI Aerostructures turned a $1.9 million 2006 pre-tax loss into a $3 million profit in 2007 on revenue up 56% to nearly $28 million. Chief executive Edward Fred attributed the improvement to efforts to increase subcontracting and commercial business and expects 2008 revenue to reach $35 million. CPI recently won a multi-year contract, with an initial order of $3.5 million to provide Gulfstream G650 structural assemblies to Spirit AeroSystems.
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PARA::Filter specialist boosts aviation prospects PARA::acquisition Liquid filtration specialist Porvair hopes to boost its aviation business with new south of England manufacturing facilities and the acquisition of a key supplier, Toolturn of Fareham, Hampshire, for 1 million ($2 million) spread over three years. Buying Toolturn secures scarce engineering skills for Porvair's Microfiltrex subsidiary, says chief executive Ben Stocks. Porvair supplies fuel and hydraulic fluid filters for most commercial airframes. In its year to the end of November, Porvair made a pre-tax profit of 3.6 million on sales of 45.5 million, and aviation filtration sales are up 40% over the past two years. PARA::SATURN BOLTED on to ACUMENT PARA::FASTENERS Troy, Michigan-headquartered fasteners maker Acument Global Technologies has bought, for an undisclosed sum, high-performance aerospace threaded fastener maker Saturn Fasteners of Burbank, California. In March, Acument re-entered the threaded aerospace fastener market by opening a new manufacturing operation, Camcar Aerospace, in Rockford, Illinois. PARA::Park acquires Nova Composites PARA::purchase Park Aerospace Structures has purchased Lynwood, Washington-based Nova Composites, for about $4.5 million, plus up to $5.5 million over the next five years, depending on performance. Nova, which was marginally profitable on $2 million revenue in 2007, will trade as Park Aerospace Structures. PARA:: PARA:: LOAD-DATE: November 5, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
INTRODUCTION:
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Business briefs ILFC mulls options as Debt market hits parent leasing The world's largest aircraft lessor, International Lease Finance, is considering some form of separation from its parent, American International Group, after the insurer increased its loss estimates from insuring financial instruments to $5 billion from $1 billion. Standard & Poor's recently revised its rating outlook on ILFC to negative from stable and Fitch Ratings placed it on rating watch negative. S&P says ILFC's outlook change does not reflect credit problems at the lessor itself. ILFC chief executive Steven Udvar-Hazy told Flight sister publication Commercial Aviation Online that options include purchasing aircraft portfolios and/or other lessors: "The status quo is perhaps not the optimal situation for us." Airbus site acquisition to boost GKN manufacturing GKN expects to close its acquisition of Airbus's Filton, UK manufacturing site by mid-year, as well as conclude agreements for "significant work content" on the airframer's upcoming A350XWB. Chief executive Sir Kevin Smith said the Filton acquisition - which comes as part of Airbus parent EADS's "Power 8" restructuring plan - would significantly strengthen the engineering company's aerospace business, which accounts for one-fifth of group sales. Aerospace sales in 2007 were up year-on-year 18% to ?820 million ($1.63 billion) operating profit was down 23% to ?73 million. Key markets all gain at ST Aero maintenance Singapore Technologies Aerospace posted a 6% increase in net profit for 2007 to S$270.5 million ($193 million) as revenue rose 10% to S$1.84 billion with increases in Asia, the USA and Europe. Engine overhaul sales were boosted by the acquisition of ST Aero Solutions Europe, formerly SAS Component Group. Maintenance sales were comparable to 2006 despite the closing of loss-making UK operation Bournemouth Aviation Services. Ideal merger transaction still eludes Delta airlines Top executives at Delta Air Lines told employees there would be no merger with Northwest Airlines unless the combined carrier was called Delta and headquartered in Atlanta. Chief executive Richard Anderson and president and chief financial officer Ed Bastian said the Atlanta-based carrier has yet to "arrive at a potential transaction that meets all of our principles". operating profit soars at Lufthansa results Germany's Lufthansa has increased its full-year operating profit 63% compared with 2006 to ?1.38 billion ($2.05 billion), on a 13% rise in revenues to ?22.4 billion. Net profit for the company doubled to ?1.66 billion. Full results will be released on 12 March. AAR buys Miami heavy maintenance specialist Acquisition US maintenance, repair and overhaul provider AAR is to buy Miami-based Avborne Heavy Maintenance, which supports Airbus and Boeing, and Delta's MD-80/90 fleet, from a 21,000m2 (226,000ft2) hangar at Miami International Airport. AAR has MRO bases in Indianapolis, Oklahoma City and Hot Springs, Arkansas. 2008 fuel rise to dwarf 2007 profit: US Airways COSTS Phoenix-based US Airways says higher fuel prices could add about $800 million to its expenses this year - well above its $440 million 2007 profit. The airline earlier forecast a first-quarter loss, following a $79 million loss in the fourth quarter of 2007, and is introducing a $25 charge for second checked bags. LOAD-DATE: March 17, 2008
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INTRODUCTION:
SECTION: BUSINESS LENGTH: 546 words Business briefs AAR eyes expansion of composites work Components Aviation aftermarket supplier AAR is planning a four-fold expansion of its composites manufacturing capabilities. The company says it is leasing a 8,900m2 (90,000ft2) facility at the former McClellan Air Force Base in Sacramento, California, which will support expansion through additional equipment and capacity. AAR will occupy the portion of the facility formerly used by the US Air Force for manufacturing composite replacement aircraft parts. Last December, AAR acquired Huntsville, Alabama-based Summa Technology to strengthen its position in the parts manufacturing approval market, in which it plans to grow "dramatically" in 2008 and in 2009. Aerospace boost for Kaiser Aluminum Results Robust demand for aerospace and defence-related applications, coupled with additional capacity, drove California, USA-based company Kaiser Aluminum to a record for heat treat plate shipments in 2007. Operating income from fabricated products was up 39% to $169 million, including $42 million from increased shipments and stronger value-added pricing for heat treat plate sales were up 5% to 547.8 million. "We continue to capitalise on strong demand for aerospace and defence-related products," says chief executive Jack Hockema. Rockwell Collins to expand in India AVIONICS Rockwell Collins is to open an engineering centre in Hyderabad, India in October dedicated to hardware and software development, with initial work focused on the design of displays and flight-management systems. About 500 people will be hired over the next five years. Existing links in similar
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technologies with HCL Technologies in Chennai and Bangalore will continue. Senior vice-president Nan Mattai says: "Our new facility in India will enhance our presence in this emerging region and provide us with increased access to high-quality engineering and design talent." Rafael ties in with indian electronics maker MISSILES Israeli missile maker Rafael is to form a joint venture with Bangalore-based Bharat Electronics to enable it to meet Indian requirements for offset, technology transfer and local industry workshare. Bharat was set up by India's defence ministry in 1954. SPACEHAB loses $33m in first half SPACEFLIGHT Space access and payload integration services company Spacehab lost $33.7 million in the six months to 31 December on revenue of $12.9 million, including a $30.2 million non-cash debt conversion expense. The company, which is competing for contracts under NASA's Commercial Orbital Transportation Services programme, says its Astrotech Space Operations and Engineering Services subsidiaries trade profitably. In January it created three new subsidiaries "to advance heritage capabilities to capture newly identified business opportunities" in orbital transportation, microgravity sciences and other technologies. Rolls-Royce puts heat on south korea DEVELOPMENT Rolls-Royce has opened its 29th University Technology Centre and first in Asia, at Korea's Pusan National University. The new UTC in Thermal Management will focus initially on developing high-efficiency lightweight heat exchangers. R-R describes this area of research as important in maintaining competitiveness across all of its aerospace, marine and energy markets. LOAD-DATE: March 4, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International February 19, 2008 SECTION: BUSINESS LENGTH: 527 words Business briefs
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787 delays cloud spirit's 2008 outlook results Spirit AeroSystems finished its first full year as a public company solidly in the black, but warned that its sales outlook may decline in 2008 because of 787 schedule delays. In 2007, Spirit's full-year revenues jumped 20% from $3.2 billion to $3.8 billion, while net income grew from $17 million to $297 million. However, a reduction in 787 shipset deliveries in 2008 may leave Spirit short of its $4.7 billion revenue forecast for this year and the company says it is also evaluating alternatives for securing additional financing to meet potential liquidity needs. The Kansas-based structural producer was spun off by Boeing in 2005. Raytheon in india Defence Communications Link Military electronics Raytheon and Indian civil and military communications design and production specialist Precision Electronics are to team up to develop and provide communications technology for India's military. A memorandum of understanding calls for the companies to pursue emerging business opportunities and provide in-country production, offset and long-term support. Record year likely for in-flight technology IFE Airlines are likely to spend record sums on in-flight entertainment and communication technologies this year, according to the UK-based Inflight Management Development Centre. Spending on portable in-flight entertainment was just $75 million in 2007 but IMDC expects double-digit growth for the next two to three years. Diversification boosts CAE results Simulation, modelling and training specialist CAE saw a 40% year-on-year rise in third-quarter pre-tax profits to $61C.7 million ($62.1 million) on sales up 4% to $344C.8 million. Operating income rose in both military and civil segments. Chief executive Robert Brown said the results highlighted successful sector and regional diversification: "Approximately 60% of our revenues are now being generated outside North America." No-luggage break cuts qantas low-cost fares AIRLINES Qantas Airways' low-cost carrier Jetstar is trying to gain a price advantage over its competitors by offering a discount to passengers who have no check-in luggage. Jetstar chief executive Alan Joyce expects low-cost rivals to follow suit, and says: "This is probably the most competitive of any aviation market in the world." Pilatus Ace takes key Grob role Business Aviation Ulrich Gehling (pictured) has joined Grob Aerospace as joint managing director alongside Andreas Strohmayer and replacing Heinz Micheler, who has been put in charge of Grob's development of the composite structure for Bombardier's Learjet 85. Gehling joins from Pilatus, where he headed the PC21 programme and, most recently, Next Generation PC12 development. Russian Technologies in assets dispute consolidation Government-controlled industrial conglomerate Russian Technologies has laid claim to state aviation assets sought by private shareholders of the five airlines set to be amalgamated into the AirUnion alliance. Russian Technologies is believed to have a mandate to play a leading role in high-technology industries and act for the public interest in selected key economic sectors. LOAD-DATE: August 19, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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PARA::
SECTION: BUSINESS LENGTH: 545 words PARA:: business briefs PARA::787 delays cloud spirit's 2008 outlook PARA::results Spirit AeroSystems finished its first full year as a public company solidly in the black, but warned that its sales outlook may decline in 2008 because of 787 schedule delays. In 2007, Spirit's full-year revenues jumped 20% from $3.2 billion to $3.8 billion, while net income grew from $17 million to $297 million. However, a reduction in 787 shipset deliveries in 2008 may leave Spirit short of its $4.7 billion revenue forecast for this year and the company says it is also evaluating alternatives for securing additional financing to meet potential liquidity needs. The Kansas-based structural producer was spun off by Boeing in 2005. PARA::Raytheon in india Defence Communications Link PARA::Military electronics Raytheon and Indian civil and military communications design and production specialist Precision Electronics are to team up to develop and provide communications technology for India's military. A memorandum of understanding calls for the companies to pursue emerging business opportunities and provide in-country production, offset and long-term support. PARA::Record year likely for in-flight technology PARA::IFE Airlines are likely to spend record sums on in-flight entertainment and communication technologies this year, according to the UK-based Inflight Management Development Centre. Spending on portable in-flight entertainment was just $75 million in 2007 but IMDC expects double-digit growth for the next two to three years. PARA::Diversification boosts CAE PARA::results Simulation, modelling and training specialist CAE saw a 40% year-on-year rise in third-quarter pre-tax profits to $61C.7 million ($62.1 million) on sales up 4% to $344C.8 million. Operating income rose in both military and civil segments. Chief executive Robert Brown said the results highlighted successful sector
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and regional diversification: "Approximately 60% of our revenues are now being generated outside North America." PARA::No-luggage break cuts qantas low-cost fares PARA::AIRLINES Qantas Airways' low-cost carrier Jetstar is trying to gain a price advantage over its competitors by offering a discount to passengers who have no check-in luggage. Jetstar chief executive Alan Joyce expects low-cost rivals to follow suit, and says: "This is probably the most competitive of any aviation market in the world." PARA::Pilatus Ace takes key Grob role PARA::Business Aviation Ulrich Gehling (pictured) has joined Grob Aerospace as joint managing director alongside Andreas Strohmayer and replacing Heinz Micheler, who has been put in charge of Grob's development of the composite structure for Bombardier's Learjet 85. Gehling joins from Pilatus, where he headed the PC21 programme and, most recently, Next Generation PC12 development. PARA::Russian Technologies in assets dispute PARA::consolidation Government-controlled industrial conglomerate Russian Technologies has laid claim to state aviation assets sought by private shareholders of the five airlines set to be amalgamated into the AirUnion alliance. Russian Technologies is believed to have a mandate to play a leading role in high-technology industries and act for the public interest in selected key economic sectors. PARA:: PARA:: PARA:: LOAD-DATE: November 5, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Flight International January 22, 2008 SECTION: BUSINESS
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LENGTH: 573 words Business briefs Airbus to shortlist Laupheim plant candidates restructuring Airbus is preparing to shortlist three to five companies for the sale of its Laupheim, Germany manufacturing facility, having made preliminary decisions last month on divesting six other plants to three companies as part of its Power8 restructuring. The Laupheim plant specialises in the production of aircraft cabin interiors. Three companies - Latecoere, MT Aerospace and GKN - have been selected as partners for six plants in France, Germany and the UK: Meaulte, St Nazaire Ville, Nordenham, Varel, Augsburg and Filton. Airbus's executive vice-president of programmes, Tom Williams, says the company was keen to prioritise the sale of the other plants because of their immediate importance to the A350 XWB programme, but adds: "There's been a very good level of interest in Laupheim." Candover declares Stork bid unconditional ACQUISITION Candover-led consortium London Acquisition has declared its revised ?1.5 billion ($2.2 billion) takeover offer for Stork unconditional after earlier securing acceptance for 98% shares as of the 14 January offer deadline. Under the restructured deal, Icelandic banks Landesbanki and Eyrir - part of LME - joined the London Acquisition consortium, while LME's other member, Marel Food Systems, is to buy Stork's food systems division immediately after the takeover is closed. Fokker Services parent Stork operates in the aerostructures manufacturing and aircraft servicing sectors, as well as industrial technical services, food systems and print sectors. Cobham expands US security business ACQUISITION Cobham is to acquire US intelligence and missile defence company Sparta for $416 million cash. After the acquisition, expected to be completed during the second quarter of 2008, Sparta will become a separate strategic business unit of Cobham's North America division. Cobham chief executive Allan Cook says: "This is a major step forward in the implementation of Cobham's technology strategy and the creation of a significant tier 2 business supplying the US DoD and intelligence markets." Propulsion leads Safran 2007 sales growth RESULTS Strong growth in its aerospace propulsion business last year helped French firm Safran boost full-year group revenues in its continuing businesses 7% to ?10.8 billion ($16 billion) in 2007. Its aerospace propulsion revenues grew nearly 17%, representing half of the group's overall sales at ?5.9 billion, while deliveries of new engines for both commercial aircraft and for helicopters grew more than 20% compared with 2006. Meanwhile, Safran completed the ?383 million sale of its non-core Sagem Communications business to The Gores Group, which becomes majority shareholder Safran retains 10% and Sagem employees hold 20%. Safran's space and defence specialist, Snecma Propulsion Solide, has created a new composite materials division. Sukhoi investment gets Putin's blessing SUPERJET Russian president Vladimir Putin has signed a decree permitting a previously agreed sale of 25% plus one share of Sukhoi Civil Aircraft to Alenia Aeronautica of Italy. Putin, whose approval was required by Russian law, specified that citizens of foreign countries shall not occupy more than a quarter of Sukhoi Civil control board seats, and that the company be headed by a Russian citizen, but foreign investors are being courted to raise funds for Sukhoi's $1 billion Superjet regional jet project. LOAD-DATE: February 19, 2008 LANGUAGE: ENGLISH
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Flight International January 15, 2008 SECTION: BUSINESS LENGTH: 576 words Business briefs Standard Aero absorbs landmark branding North American maintenance providers Standard Aero and Landmark Aviation are now operating under one common organisational structure and team, and will shortly unveil a rejuvenated look for Standard Aero, which will become the single brand of the merged entity. Integration of the two firms under Dubai Aerospace Enterprise's technical subsidiary DAE Engineering began immediately after the Middle Eastern group's 31 July acquisition of engine maintenance specialist Standard Aero and business aviation maintenance provider Landmark Aviation for $1.9 billion from private equity company The Carlyle Group. Standard Aero/Landmark Aviation chief executive Paul Soubry says opportunities to grow the company "through the acquisition of businesses that fit our overall strategy" are being constantly examined. GA Telesis buys Arizona repair business maintenance GA Telesis is to buy, for an undisclosed sum, AM Trading and AM Repair in Tucson Arizona. The 6,150m2 (65,000 ft2) facility repairs and manufactures components for Airbus, Boeing, Bombardier and Embraer aircraft. AMT will be rebranded as GA Telesis Component Repair Group Southwest. Co-founder Micah Chapman will remain as head of the company. GA Telesis businesses include engine and aircraft leasing and inventory support. Supply chain initiative clears triple century INDUSTRY Three hundred companies have signed up to the Society of British Aerospace Companies' Supply Chains in the Twenty First Century programme. Launched at the Farnborough Air Show in 2006 with 19 companies, it aims to remove duplication, minimise waste and increase co-ordination. SBAC chief executive Ian Godden says: "SC21 is a landmark change that will allow participating firms to cut down on the number and bureaucracy of supply chain audits." Nordcapital establishes aviation arm
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aircraft Funds Hamburg-based finance company Nordcapital has established an aviation arm, to be headed by managing director Peter Huijbers, who was previously responsible for the aircraft trading and leasing market segment at Lufthansa Technik. Chief executive Reiner Seelheim says Nordcapital Aviation plans to create its first aircraft fund in the second half of 2008, adding: "The aviation industry has tremendous growth potential and offers attractive returns for our investors via closed-end aircraft funds." ACTS inks maintenance deals with GE and CFM propulsion Canadian maintenance, repair and overhaul company ACTS has struck a 10-year materials deal with GE for repair of GE CF34 engines and a separate 10-year materials agreement with CFM International covering repair and overhaul of CFM56s. Both deals are valued at $2.5 million. Last year Air Canada parent ACE Aviation Holdings sold a 70% stake in ACTS to two private equity firms ACE retains a 23% interest in ACTS. On a path to wind down its company structure, ACE last week launched a $1C.5 billion ($1.49 billion) buyback of about 40% of its outstanding shares. It also holds a 20.1% interest in both Air Canada's Jazz affiliate and the Aeroplan frequent-flyer programme. In a December equity research paper, TD Securities analyst Brian Morrison predicted that the next steps in the process would include potential secondary offerings of Jazz and Aeroplan, another substantial issuer bid, and "lastly the potential event that ACE brings Air Canada back in-house, effectively transforming the holding company into the airline". LOAD-DATE: February 19, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Business briefs
SECTION: BUSINESS LENGTH: 574 words MTU 'REBUFFED' IN BID FOR VOLVO AERO ACQUISITIONS MTU Aero Engines has declined to comment on German press reports that it has been rebuffed in a ?1 billion ($1.42 billion) offer for Volvo Aero. Spokesman Eckhard Zanger told Flight International that MTU remains on the lookout for opportunities to expand its business through organic
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growth or by acquisition. In 2006 MTU made a gross or operating profit of ?352.7 million on sales of ?2.4 billion Volvo Aero made ?37.6 million on sales of ?870 million, or 3% of the Volvo Group total, which is dominated by trucks and buses. STANDARD AERO BUYS CINCINNATI REPAIR SHOP MAINTENANCE Engine maintenance firm Standard Aero has bought Cincinnati, Ohio-based turbine engine component repair facility TSS Aviation for $65 million. TSS, which was established in 1948 and employs 225 people, is a full-service component overhaul facility, providing mid- to large aerospace and industrial gas turbine engine repairs for OEMs and airlines. Standard Aero was acquired from private equity company Carlyle Group by Dubai Aerospace Enterprise in August, in a $1.9 billion deal that also included Landmark Aviation the firms are being merged under the Middle Eastern group's technical subsidiary DAE Engineering. Standard Aero chief executive Paul Soubry says: "Not only does TSS Aviation increase the Standard Aero component repair, it also brings significant new technology and capability to the DAE repair portfolio. We gain extensive new capabilities, along with exceptional quality and an on-time delivery record, all of which make this a tremendous strategic fit." SAS TO SELL STAKE IN SPANISH GROUND HANDLER DIVESTMENT SAS Group will sell its 55% holding in Spanish ground-handling company Newco Airport Services to Teinver. The latter will hold 100% of the company after the transaction, which will have a SKr 400 million ($62.1 million) positive net effect on cash and debt. Newco is Spain's second-largest handling company, expected to handle 127,000 flights in 2007 at 26 Spanish airports for more than 40 airlines, including SAS. It also provides cargo handling services in Madrid. SAD DAY FOR CASH AT JETBLUE IN-FLIGHT RETAIL JetBlue Airways is studying various ancillary revenue opportunities that can be supported by its new "cashless cabin" service being offered in partnership with subsidiary LiveTV. From 1 November the low-cost carrier will accept major credit or debit cards for in-flight purchases using handheld devices, and will no longer accept cash on board. LiveTV's secure technology will provide "a quick and hassle-free way to purchase alcoholic beverages and future in-flight offerings on board", says JetBlue. Apart from alcoholic drinks, the exact in-flight offerings being considered have not been revealed, but the carrier's standard 36-channel seat-back live television service will continue to be offered free to passengers. GOODRICH TO SELL maintenance unit AIRFRAME REPAIR Australia's Macquarie Bank is to buy Goodrich's airframe heavy maintenance business, Goodrich Aviation Technical Services, for an undisclosed sum. Goodrich says it expects the sale to close in the fourth quarter of this year. Goodrich has more than 1,200 employees at an 88,250m2 (950,000ft2) facility in Everett, Washington. Services include airframe heavy maintenance, aircraft modifications and painting, passenger-to-freighter conversions, engineering and certification, and component repair and overhaul. LOAD-DATE: August 19, 2008 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Return to List
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business briefs PARA::

SECTION: BUSINESS LENGTH: 586 words PARA:: MTU 'REBUFFED' IN BID FOR VOLVO AERO PARA::ACQUISITIONS MTU Aero Engines has declined to comment on German press reports that it has been rebuffed in a 1 billion ($1.42 billion) offer for Volvo Aero. Spokesman Eckhard Zanger told Flight International that MTU remains on the lookout for opportunities to expand its business through organic growth or by acquisition. In 2006 MTU made a gross or operating profit of 352.7 million on sales of 2.4 billion Volvo Aero made 37.6 million on sales of 870 million, or 3% of the Volvo Group total, which is dominated by trucks and buses. PARA::STANDARD AERO BUYS CINCINNATI REPAIR SHOP PARA::MAINTENANCE Engine maintenance firm Standard Aero has bought Cincinnati, Ohio-based turbine engine component repair facility TSS Aviation for $65 million. TSS, which was established in 1948 and employs 225 people, is a full-service component overhaul facility, providing mid- to large aerospace and industrial gas turbine engine repairs for OEMs and airlines. Standard Aero was acquired from private equity company Carlyle Group by Dubai Aerospace Enterprise in August, in a $1.9 billion deal that also included Landmark Aviation the firms are being merged under the Middle Eastern group's technical subsidiary DAE Engineering. Standard Aero chief executive Paul Soubry says: "Not only does TSS Aviation increase the Standard Aero component repair, it also brings significant new technology and capability to the DAE repair portfolio. We gain extensive new capabilities, along with exceptional quality and an on-time delivery record, all of which make this a tremendous strategic fit." PARA::SAS TO SELL STAKE IN SPANISH GROUND HANDLER PARA::DIVESTMENT SAS Group will sell its 55% holding in Spanish ground-handling company Newco Airport Services to Teinver. The latter will hold 100% of the company after the transaction, which will have a SKr 400 million ($62.1 million) positive net effect on cash and debt. Newco is Spain's second-largest handling company, expected to handle 127,000 flights in 2007 at 26 Spanish airports for more than 40 airlines, including SAS. It also provides cargo handling services in Madrid. PARA::SAD DAY FOR CASH AT JETBLUE PARA::IN-FLIGHT RETAIL JetBlue Airways is studying various ancillary revenue opportunities that can be supported by its new "cashless cabin" service being offered in partnership with subsidiary LiveTV. From 1 November the low-cost carrier will accept major credit or debit cards for in-flight purchases using handheld devices, and will no longer accept cash on board. LiveTV's secure technology will provide "a quick and hassle-free way to purchase alcoholic beverages and future in-flight offerings on board", says JetBlue. Apart from alcoholic drinks, the exact in-flight offerings being considered have not been revealed, but the carrier's
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standard 36-channel seat-back live television service will continue to be offered free to passengers. PARA::GOODRICH TO SELL maintenance unit PARA::AIRFRAME REPAIR Australia's Macquarie Bank is to buy Goodrich's airframe heavy maintenance business, Goodrich Aviation Technical Services, for an undisclosed sum. Goodrich says it expects the sale to close in the fourth quarter of this year. Goodrich has more than 1,200 employees at an 88,250m2 (950,000ft2) facility in Everett, Washington. Services include airframe heavy maintenance, aircraft modifications and painting, passenger-to-freighter conversions, engineering and certification, and component repair and overhaul. PARA:: PARA:: LOAD-DATE: November 5, 2009 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Business briefs
SECTION: BUSINESS LENGTH: 557 words ROLLS-ROYCE opens advanced engine testbed FACILITIES Rolls-Royce has opened an aeroengine components manufacturing facility and one of the world's largest testbeds in the UK at Derby in a ?100 million ($200 million) investment. R-R says 58 Bed is its quietest and largest test facility and, together with the adjoining "twin" 57 Bed, "forms the most advanced indoor jet engine centre in the world", replacing an outdoor facility at Hucknall, Nottinghamshire, which will close around the end of the 2007. The 33,000m2 (355,200ft2) factory will employ around 800 workers to make 170 different components for 23 engine types in service with more than 2,000 customers.
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EDO to ITT in $1.7 BILLION buyout ACQUISITION ITT is to buy aerospace and defence electronics manufacturer EDO in a $1.7 billion deal to expand its access to US military programmes, including the Lockheed Martin F-35 Joint Strike Fighter. Steve Loranger, chairman, president and chief executive of ITT, says: "This combination is all about growth and demonstrates our disciplined approach to creating value for our shareholders by expanding from our strong core businesses and entering attractive adjacent markets." The transaction is expected to be concluded in early 2008. Teamsters Blitz for United mechanics UNIONS The International Brotherhood of Teamsters is looking to wrest representation of United Airlines mechanics from a rival union. The workers lost their jobs when United closed a heavy maintenance hub four years ago, says Teamsters. The Teamsters union maintains the current union representing the majority of United mechanics, Aircraft Mechanics Fraternal Association (AMFA), has allowed United to outsource mechanics jobs to non-union workers and not protected them with contracts. AMFA representatives were unavailable for comment. If it succeeds, the Teamsters union promises to negotiate a contract with United that prevents the airline from outsourcing maintenance work. Timken Expands With Purdy Acquisition TAKEOVER Bearings and turbine engines components maker Timken is to acquire military and commercial aviation manufacturer and systems integrator Purdy for $200 million. Purdy's expertise includes design, manufacturing, testing, overhaul and repair of transmissions, gears, rotor-head systems and other high-complexity components for helicopter and fixed-wing aircraft platforms. Purdy is based in Manchester, Connecticut, employs more than 200 people and had 2006 sales of around $87 million. JSF, RESTRUCTURING COSTS HIT AEROSONIC RESULTS Florida-headquartered precision flight products maker Aerosonic Corporation made a loss during the six months to 28 July as factory consolidation costs hit net income while Lockheed Martin F-35 Joint Strike Fighter subcontract costs rose. Aerosonic lost $1.2 million, compared with a $506,000 profit last time, on revenue down by a quarter to $12.1 million. Chairman David Baldini says consolidation "has had a substantial impact on our current financial performance, [but] it will result in a structure that will help provide resources to improve earnings and fund research and development. By adding new products such as primary flight displays and creating a structure that allows us to be more competitive, we have positioned the company to take advantage of new opportunities that exist within our marketplace." LOAD-DATE: October 1, 2007 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
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Business briefs
SECTION: BUSINESS LENGTH: 564 words Avionics boosts cobham at the half year results Cobham, the UK-headquartered aerospace and defence group, turned in a 9% rise in underlying effectively operating - profit before tax to ?86.1 million ($175 million) despite seeing revenue fall 4.5% to ?494 million for the half year to 30 June. Strong performances included the avionics and surveillance division, which more than doubled trading profit to ?20.8 million as organic revenue growth topped a fifth, to ?120 million. Chairman Gordon Page described the group's results as "strong" halfway into a three-year strategic plan that relies heavily on acquisitions. Recent purchases include a deal worth up to $45 million for Patriot Antenna Systems. sikorsky hopes to find us market for Mielec rotorcraft Sikorsky has invested more than $46 million in factory facilities for its 100%-owned Polish subsidiary, PZL Mielec, since the spring, according Europe vice-president Bruce McKinney. The company plans to continue making its M28 Bryza/Skytruck STOL transport aircraft and M18 Dromader agricultural aircraft three M28s were delivered to the Polish air force this year and three M18s went to China, which will take another 12 in 2008. The same year, Mielec is to deliver 48 UH-60 cockpit structures to Sikorsky, and a priority will be to establish International Black Hawk manufacture in Poland, with first flight scheduled for 2010. The M26 Iskierka piston trainer programme will be terminated. McKinney says: "Now it is difficult to talk about long-term strategy for Mielec." He says that demand is "high" for aircraft like the Bryza/Skytruck: "Maybe, in the future, it will be possible to offer M28s to the US government as a light tactical transport." AMG Dallas approved for composites repair repair AMG Flite Components' maintenance facility in Dallas has received US Federal Aviation Administration certification to perform aircraft structures and composites repair. Certification of the Dallas Love Field-area facility allows Flite Components to offer full in-house composite and sheet metal repairs and metal bonding for narrowbody and regional aircraft, including Boeing 737, Boeing 757, ATR and all series of Bombardier CRJ and Embraer regional jets. It is the first stage of a planned expansion of composite and structures repair programmes at Flite Components. Additional capabilities for Airbus and Boeing aircraft will be added later this year. radar repair joint venture for indian MIGs INDIA Bangalore-based Alpha Design Technologies and Russia's Phazotron have formed a joint venture for service, overhaul and spares for the Kopyo radar used in MiG combat aircraft in service with the Indian Air Force. Phozotron, which holds 26% of the joint venture, is the original manufacturer of the Kopyo radar used in the upgraded MiG-21s. The air force and state-owned Hindustan Aeronautics had wanted to establish a dedicated Kopyo facility, but the required technology was not made available to HAL when India bought the MiGs. Currently, Kopyo radars are sent to Phazotron facilities in Russia for repair.
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Standard Chartered buys lessor Pembroke acquisition London and Hong Kong-listed bank Standard Chartered has struck a deal to buy Dublin-based aircraft lessor Pembroke Group. No purchase price was disclosed. The deal comes a little over a year after Pembroke managers bought the company from co-owners Rolls-Royce and GATX. LOAD-DATE: September 18, 2007 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Business briefs
SECTION: BUSINESS LENGTH: 501 words HUMAN-POWERED FLIGHT PIONEER RETIRESMILESTONE Paul MacCready (right) has retired as chairman and director of unmanned and electric systems company AeroVironment, the company he founded in 1971. He is to be replaced by Tim Conver, who has been president since 1991. Last week marked the 30th anniversary of the first flight of MacCready's human-powered aircraft, Gossamer Condor, the first ever to make a sustained controlled flight powered solely by its pilot and in the process winning the Kremer Prize. He won a second Kremer prize two years later with Gossamer Alabatross's flight across the English Channel. MacCready, born in 1925, has been honoured with an Engineer of the Century award by the American Society of Mechanical Engineers and the NASA Public Service Grand Achievement Award, and was selected as Graduate of the Decade by the California Institute of Technology and named one of the 100 greatest minds of the 20th century by Time magazine. See Comment P5LOCKHEED MARTIN BUYS SERIOUS GAMES PLAYERACQUISITION Lockheed Martin has bought for an undisclosed sum 3Dsolve, a privately held company that creates simulation-based learning solutions for government, military and corporate applications using interactive 3D graphics, also known as "serious games". 3Dsolve's employees and software products will remain in Cary, North Carolina and become fully integrated into Lockheed Martin Simulation, Training & Support (LM STS). LM STS president Dale Bennett says: "This transaction will enable us to strengthen our core competencies, leverage the talents of our employee base and support Lockheed Martin's long-term strategy of value expansion."BOEING AND
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VSMPO FORMALISE TITANIUM LINKJOINT VENTURE Russian titanium producer VSMPO-Avisma and Boeing today formalised a joint venture to produce rough titanium forgings for the 787, and named a Boeing veteran to run it. The 50/50 joint venture, called Ural Boeing Manufacturing (UBM), is being created at VSMPO's premises in Verkhnaya Salda and will become operational next year. The forgings will be shipped to Boeing's facility in Portland, Oregon for final completion, according to a statement released by the two companies. Long-time Boeing executive Gary Baker has been appointed UBM's general director and general manager. He will be headquartered in Verkhnaya Salda, where UBM is building a shop and office facility.EC CLEARS STORK TAKEOVERPRIVATE EQUITY European Commission regulators have approved the planned acquisition of Dutch Fokker Services parent Stork by equity group Candover. The EC, which studied the proposed takeover under a simplified merger review procedure, says that it has "granted clearance" to the acquisition. Candover initiated the takeover of Stork - active in the aerospace services and aerostructures fields, as well as other diverse sectors - earlier this month after gaining Stork board recommendation for its proposal. Its takeover centres on an all-cash offer of ?47 ($63) per share for all of Stork's capital. LOAD-DATE: August 28, 2007 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine
Business briefs
SECTION: BUSINESS LENGTH: 460 words FAC TO MERGE WITH GTMAASSOCIATIONS Industry association Farnborough Aerospace Consortium (FAC) is boosting its membership and expanding its reach with the decision to merge with the Gauge and Tool Making Association (GTMA). The two groups say the partnership will allow member companies from the two associations to team up to offer more complete solutions to customers, and FAC members will benefit from routes to new aerospace markets. LATECOERE EYES CZECH OPPORTUNITYJOINT VENTURE Aero Vodochody owner, Czech/Slovak investment group Penta Investments, is considering forming a partnership to build aircraft doors with French aerostructures specialist Lat?co?
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re, according to reports in the Czech media. The joint venture could be located in Prague at the site of Technometra, a subsidiary of Aero Vodochody, according to the reports. Penta Investments bought Aero Vodochody in January.TAT TECHNOLOGIES' UNIT DETAILS IPO PLANOFFERING TAT Technologies is to cut its stake in maintenance repair and overhaul division Limco-Piedmont (LPI), which is made up of Limco Airepair and Piedmont Aviation Component Services. The sale of 500,000 of TAT's shares, leaving with around 68% of the company, will follow an initial public offering of 350 million LPI shares priced between $9.50 and $11.50. The company said in January that it planned to raise funds for the subsidiary after the Stork-owned company Fokker Services pulled out of a plan to purchase a stake.BOEING TO SOURCE TITANIUM FROM CHINAPROCUREMENT Boeing is sourcing a total of 4,300t of titanium from Chinese producer Baoji Titanium over the next three years in a contract worth over 1 billion yuan ($130 million). The manufacturer will receive 780t of the processed titanium in 2007. Meanwhile Airbus has signed a long-term agreement for the supply of aluminium products for the A380 and A350 XWB with Alcan. SAFRAN SEES CHINA HELICOPTER POTENTIALSTRATEGY Safran would see the Chinese market for helicopters as a "significant opportunity" if Beijing decided to open up to civil helicopters, according to chief executive Jean-Paul Bechat. He adds: "The China sky is still limited to military helicopters." SAS GROUP TO SELL AIRLINE STAKESDIVESTMENT SAS Group is selling its stakes in Air Greenland, BMI and Spanair (see graph) as part of its four-year strategic plan to focus on flights to, from or within northern Europe. The company is also considering the future of its SAS Ground Services, SAS Technical Services and Spirit Air Cargo Handling divisions.FLIGHT OPTIONS INCREASES MRO CAPABILITYMAINTENANCE Fractional ownership operator Flight Options is increasing its maintenance, repair and overhaul capability by opening a base in Las Vegas. The facility will perform light to medium level maintenance. LOAD-DATE: June 26, 2007 LANGUAGE: ENGLISH PUBLICATION-TYPE: Magazine

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