flight international 2011 06-24-10 26

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1. INTRODUCTION: Flight International, March 15, 2011, BUSINESS, 93 words

2. INTRODUCTION: Flight International, July 13, 2010, BUSINESS, 529 words

3. INTRODUCTION: Flight International, May 25, 2010, BUSINESS, 558 words

4. PARA:: INTRODUCTION:: PARA:: Flight International, May 25, 2010, BUSINESS, 576 words





9. INTRODUCTION: Flight International, November 10, 2009, BUSINESS, 543 words


11. INTRODUCTION: Flight International, October 27, 2009, BUSINESS, 542 words

12. INTRODUCTION: Flight International, September 22, 2009, BUSINESS, 546 words



15. INTRODUCTION: Flight International, August 25, 2009, BUSINESS, 544 words

16. INTRODUCTION: Flight International, August 11, 2009, BUSINESS, 509 words


18. INTRODUCTION: BRITISH AIRWAYS, SAS FACE LABOUR UNREST COST-CUTTING Flight International,July 14, 2009, BUSINESS, 2 words

19. INTRODUCTION: Flight International, June 30, 2009, BUSINESS, 534 words






25. INTRODUCTION: Flight International, February 17, 2009, BUSINESS, 541 words



28. INTRODUCTION: Flight International, January 27, 2009, BUSINESS, 523 words

29. INTRODUCTION: Flight International, January 20, 2009, BUSINESS, 537 words

30. Business briefs INTRODUCTION: Flight International, January 13, 2009, BUSINESS, 547 words

31. INTRODUCTION: Flight International, December 16, 2008, BUSINESS, 535 words

32. Business briefs INTRODUCTION: Flight International, December 9, 2008, BUSINESS, 521 words

33. INTRODUCTION: Flight International, December 2, 2008, BUSINESS, 502 words








41. INTRODUCTION: Flight International, August 12, 2008, BUSINESS, 602 words, Dan Thisdell

42. PARA:: INTRODUCTION:: PARA:: Flight International, August 12, 2008, BUSINESS, 617 words, Dan Thisdell

43. INTRODUCTION: Flight International, August 5, 2008, BUSINESS, 537 words, Niall O'Keeffe

44. PARA:: INTRODUCTION:: PARA:: Flight International, August 5, 2008, BUSINESS, 552 words, Niall O'Keeffe


46. PARA:: INTRODUCTION:: PARA:: Flight International, July 29, 2008, BUSINESS, 584 words



49. INTRODUCTION: Flight International, April 8, 2008, BUSINESS, 553 words

50. PARA:: INTRODUCTION:: PARA:: Flight International, April 8, 2008, BUSINESS, 568 words



53. Flight International February 19, 2008, BUSINESS, 527 words

54. PARA:: Flight International, February 19, 2008, BUSINESS, 545 words

55. Flight International January 22, 2008, BUSINESS, 573 words

56. Flight International January 15, 2008, BUSINESS, 576 words

57. Business briefs Flight International, October 9, 2007, BUSINESS, 574 words

58. business briefs PARA:: Flight International, October 9, 2007, BUSINESS, 586 words

59. Business briefs Flight International, September 25, 2007, BUSINESS, 557 words

60. Business briefs Flight International, September 18, 2007, BUSINESS, 564 words

61. Business briefs Flight International, August 28, 2007, BUSINESS, 501 words

62. Business briefs Flight International, June 19, 2007, BUSINESS, 460 words

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1 of 62 DOCUMENTS

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 theEurofighter 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

Copyright 2011 Reed Business Information Ltd.All Rights Reserved

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2 of 62 DOCUMENTS


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 undisclosedterms in a move it says will "reinforce" its position in the cabin interiors market, following the acquisition ofC&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 tocope 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 toinvest $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 theticker 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 partlyprivatised.

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 inair medical systems, lightweight armour, interior furnishings and Enflite galley equipment, for an undisclosedsum.

EUROCONTROL TO ASSESS SOLAR-CYCLE IMPACT

NAVIGATION Pan-European air navigation organisation Eurocontrol has recruited France's Egis Avia toassess the potential impact of forecast increased solar activity on satellite-based navigation systems. Egiswill conduct the study with partners including France's DSNA air navigation service and CNES spaceagency.

AIRBUS ENGINEERING DEAL GOES TO UK PARTNERS

LANDING GEAR Airbus has awarded a landing gear engineering and support contract to a partnership oftwo UK firms, Atkins and Stirling Dynamics, which will deliver technical services such as softwaremodifications and systems integration across landing gear control and monitoring systems for types includingthe A380 and A350.

SPICEJET BOSS QUITS WITH OWNERSHIP CHANGE

MANAGEMENT Indian low-cost carrier SpiceJet's chief executive Sanjay Aggarwal has quit, as the airlinelooks 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 FlightOptions.

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 Julywith $500 million in debt and filed for bankruptcy, leaving 450 employees out of work following months offinancial turmoil. The company, which reportedly posted an operating loss of $26 million in 2009 and lost $28million in 2008, had successfully exited bankruptcy in 2004 through reorganisation.

LOAD-DATE: August 9, 2010

LANGUAGE: ENGLISH



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3 of 62 DOCUMENTS


May 25, 2010

INTRODUCTION:

SECTION: BUSINESS

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 ofmore than $98.6 million as a $435.3 million charge against its recently agreed $2 billion, 53-aircraft sale toMacquarie Group and another deal wiped out a 5% rise to $1.32 billion in rental revenue. ILFC's total cost inflight equipment marketing for the first quarter this year was thus $436.2 million, compared with $6.1 million ayear 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 taxesdip by a quarter to C$230 million ($220 million) as revenue fell 8% to C$1.53 billion in its full year to 31March. Military training and simulator sales and profits were up, but on the civil side simulator sales dropped40% to C$284.1 million and operating profit nearly halved, to C$49.4 million. Chief executive Marc Parentsays: "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'sCommercial Aviation Online has learned. Boeing gave notice of the cancellation in its weekly order updateon 13 May, but did not identify the customer. Six Rolls-Royce Trent-powered 787s have been on AWAS'sbooks as a result of a legacy order originally placed by Pegasus Aviation Finance in 2006. AWAS took overthe 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 inthe UK to force carriers to use more fuel-efficient aircraft and operate more efficiently. Calling the proposedtax "unjustified", the Air Transport Association says: "Once again, airlines, their customers and thecommunities that they serve are at the mercy of political forces beyond their control. Airlines are alreadyincentivised to operate as efficiently as possible by higher fuel prices and inefficient air traffic controlsystems."

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 its737 final assembly line.

NORTHSTAR DIPS TO LOSS

COMPONENTS Aircraft parts maker Northstar Aerospace posted a 16% rise in first quarter revenue to $52.6million, but dipped to a $500,000 loss on continuing operations - compared with a $5.2 million profit a yearago - owing to restructuring costs, settlement of an environmental claim and 2009's non-recurring incomefrom sales of inventory and an investment in Vector Aerospace. Defence revenue was up more thanone-third to $45.3 million, but commercial sales dipped 30% to $10.3 million, primarily due to timing ofrevenue.

FIRST AVIATION PROFITS IN SHORT YEAR

ACCOUNTING Supply chain provider First Aviation Services made a $589 million operating profit in the 11months to the end of December on revenue of $100.3 million. This compares with a loss of $1.2 million onsales of $114.2 million for the year to 31 January 2009. First Aviation has moved its financial year-end to 31

December.

LOAD-DATE: June 2, 2010

LANGUAGE: ENGLISH



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4 of 62 DOCUMENTS


May 25, 2010

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-taxloss of more than $98.6 million as a $435.3 million charge against its recently agreed $2 billion, 53-aircraftsale to Macquarie Group and another deal wiped out a 5% rise to $1.32 billion in rental revenue. ILFC's totalcost in flight equipment marketing for the first quarter this year was thus $436.2 million, compared with $6.1million 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 andtaxes dip by a quarter to C$230 million ($220 million) as revenue fell 8% to C$1.53 billion in its full year to 31March. Military training and simulator sales and profits were up, but on the civil side simulator sales dropped40% to C$284.1 million and operating profit nearly halved, to C$49.4 million. Chief executive Marc Parentsays: "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'sCommercial 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'sbooks as a result of a legacy order originally placed by Pegasus Aviation Finance in 2006. AWAS took overthe 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 beingconsidered in the UK to force carriers to use more fuel-efficient aircraft and operate more efficiently. Callingthe proposed tax "unjustified", the Air Transport Association says: "Once again, airlines, their customers andthe communities that they serve are at the mercy of political forces beyond their control. Airlines are alreadyincentivised to operate as efficiently as possible by higher fuel prices and inefficient air traffic controlsystems."

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, hometo its 737 final assembly line.

PARA::NORTHSTAR DIPS TO LOSS

PARA::COMPONENTS Aircraft parts maker Northstar Aerospace posted a 16% rise in first quarter revenueto $52.6 million, but dipped to a $500,000 loss on continuing operations - compared with a $5.2 million profita year ago - owing to restructuring costs, settlement of an environmental claim and 2009's non-recurringincome from sales of inventory and an investment in Vector Aerospace. Defence revenue was up more thanone-third to $45.3 million, but commercial sales dipped 30% to $10.3 million, primarily due to timing ofrevenue.

PARA::FIRST AVIATION PROFITS IN SHORT YEAR

PARA::ACCOUNTING Supply chain provider First Aviation Services made a $589 million operating profit inthe 11 months to the end of December on revenue of $100.3 million. This compares with a loss of $1.2million on sales of $114.2 million for the year to 31 January 2009. First Aviation has moved its financialyear-end to 31 December.

PARA::

PARA::

PARA::


LANGUAGE: ENGLISH



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5 of 62 DOCUMENTS


May 18, 2010

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, including1,550 with 91-120 seats, 1,015 with 61-90 seats and just 60 with 30-60 seats. Separately, the Brazilianairframer will decide by August whether or not to close its Chinese plant. Harbin Embraer will deliver its lastERJ-145 in the first half of 2011, but Embraer is having difficulty obtaining requisite licences from theChinese 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 shortlyprovide details of its global assets. Kuwait Airways has been fighting for compensation for aircraft lost whenIraq invaded Kuwait in 1990. Iraqi Airways' chief executive Kifah Hassan Jabbar was served with a travel banon 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. TheChicago-based provider of Gogo air-to-ground and Inmarsat SwiftBroadband-supported services has nocurrent 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 afifth to $470.5 million and $26.8 million respectively at Dallas-headquarters aerostructures maker VoughtAircraft Industries. Business jet revenue decreased 10% primarily due to the absence of sales of thelarge-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 aftermarketsupport, modifications and upgrades for countries flying Northrop F-5 Tigers. Ruag is already prime supportprovider for F-5 operators including Switzerland.

CARGO LESSOR LIKES 767 MARKET

FREIGHT Cargo Aircraft Management, the aircraft leasing operation of Air Transport Services Group, posteda 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.

A-10, PENGUIN LIFT FOR CPI

AEROSTRUCTURES First quarter revenue rose 14% to more than $11 million and pre-tax profits were up58% to $1.3 million for CPI Aerostructures on the back of work for the Boeing A-10 attack jet and SikorskyPenguin missile launcher programmes, offset by a "normal programme cycle" Gulfstream G650 executive jetdecrease.

GE REMAKES WALTER ENGINES IN ITS NAME

TURBOPROPS GE has renamed its Czech operation as GE Aviation's Business & General AviationTurboprops, reflecting its plan to turn the former Walter Engines, which it bought in 2008, into thecentrepiece of a bid to dramatically increase its share of the business and general aviation market. The unitis working towards third quarter European approval of its Walter M601-based H80.

LOAD-DATE: May 27, 2010

LANGUAGE: ENGLISH



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6 of 62 DOCUMENTS


May 18, 2010


SECTION: BUSINESS

LENGTH: 549 words


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, theBrazilian airframer will decide by August whether or not to close its Chinese plant. Harbin Embraer willdeliver 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 ComacARJ21.

PARA::KUWAIT AIRWAYS HAS IRAQI ASSETS IN SIGHTS

PARA::DISPUTE Lawyers acting for Kuwait Airways have secured an undertaking that Iraqi Airways willshortly provide details of its global assets. Kuwait Airways has been fighting for compensation for aircraft lostwhen Iraq invaded Kuwait in 1990. Iraqi Airways' chief executive Kifah Hassan Jabbar was served with atravel 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 nocurrent 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 profitsby a fifth to $470.5 million and $26.8 million respectively at Dallas-headquarters aerostructures makerVought Aircraft Industries. Business jet revenue decreased 10% primarily due to the absence of sales of thelarge-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 provideaftermarket support, modifications and upgrades for countries flying Northrop F-5 Tigers. Ruag is alreadyprime 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 freighterfleet 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 profitswere up 58% to $1.3 million for CPI Aerostructures on the back of work for the Boeing A-10 attack jet andSikorsky Penguin missile launcher programmes, offset by a "normal programme cycle" Gulfstream G650executive jet decrease.

PARA::GE REMAKES WALTER ENGINES IN ITS NAME

PARA::TURBOPROPS GE has renamed its Czech operation as GE Aviation's Business & General AviationTurboprops, reflecting its plan to turn the former Walter Engines, which it bought in 2008, into thecentrepiece of a bid to dramatically increase its share of the business and general aviation market. The unitis working towards third quarter European approval of its Walter M601-based H80.

PARA::

PARA::


LANGUAGE: ENGLISH



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7 of 62 DOCUMENTS


May 11, 2010

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 toimproving aviation market conditions, says UBS, with Boeing 737-700 rates up 3%. However, according toUBS, models it tracks are still down 15-20% from peak levels. Lease rates are seen as a leading indicator fornew aircraft orders. UBS notes that during the previous two cycles lease rates improved a year before ordersrecovered.

MOOG UP ON GE ACQUISITION

CONTROLS The acquisition of General Electric's actuations systems business in Wolverhampton, UK, was amain driver of the 12% sales growth to $1.01 billion notched up in the half year to 3 April at control systemsmaker 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 the2008 Boeing machinists' strike, which hit sales in the quarter last year. Operating performance and risinginterest 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 ($767million), 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

INTERIORS Aircraft seat makers Zodiac and B/E Aerospace claim to be absorbing programmes that cannotbe supported by embattled Japanese firm Koito Industries, which recently admitted to fabricating safety testresults on as many as 150,000 seats worldwide. Recaro Aircraft Seating is also understood to be winningorders.

Business jets, defence REVERSE EMBRAER LOSS

AIRFRAMERS Embraer's first quarter sales dipped 14% to $1.15 billion as airliner deliveries dropped to 21units from 32 a year ago. However, rising business jet and defence sales helped turn a $23.4 million firstquarter 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 infirst quarter sales to $104.3 million, although net income increased nearly two-thirds to $4.2 million. Thecompany had suffered a first quarter 2009 after-tax charge of $2.9 million related to the Eclipse Aviationbankruptcy.

LUFTHANSA POSTS HEAVY FIRST-QUARTER LOSS

AIRLINES German flag carrier Lufthansa made an operating loss of E330 million ($432 million) for the firstquarter, 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 apilots' strike.

BOEING CARVES OUT TANKER DIVISION

DEFENCE Boeing is to form an airlift and tankers division within its military aircraft business unit to assumeresponsibility for the C-17 Globemaster III and international and US tanker programmes.

See Feature P28

LOAD-DATE: May 22, 2010

LANGUAGE: ENGLISH



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8 of 62 DOCUMENTS


May 11, 2010


SECTION: BUSINESS

LENGTH: 527 words


PARA::LEASE RATES STABILISING: UBS

PARA::FORECAST Widebody and narrowbody lease rates are stabilising compared with six months ago dueto improving aviation market conditions, says UBS, with Boeing 737-700 rates up 3%. However, according toUBS, models it tracks are still down 15-20% from peak levels. Lease rates are seen as a leading indicator fornew aircraft orders. UBS notes that during the previous two cycles lease rates improved a year before ordersrecovered.

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 controlsystems 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 tothe 2008 Boeing machinists' strike, which hit sales in the quarter last year. Operating performance and risinginterest 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 thatcannot be supported by embattled Japanese firm Koito Industries, which recently admitted to fabricatingsafety test results on as many as 150,000 seats worldwide. Recaro Aircraft Seating is also understood to bewinning orders.

PARA::Business jets, defence REVERSE EMBRAER LOSS

PARA::AIRFRAMERS Embraer's first quarter sales dipped 14% to $1.15 billion as airliner deliveries droppedto 21 units from 32 a year ago. However, rising business jet and defence sales helped turn a $23.4 millionfirst 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 a6% 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 Aviationbankruptcy.

PARA::LUFTHANSA POSTS HEAVY FIRST-QUARTER LOSS

PARA::AIRLINES German flag carrier Lufthansa made an operating loss of 330 million ($432 million) for thefirst 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 apilots' strike.

PARA::BOEING CARVES OUT TANKER DIVISION

PARA::DEFENCE Boeing is to form an airlift and tankers division within its military aircraft business unit toassume responsibility for the C-17 Globemaster III and international and US tanker programmes.

PARA::See Feature P28

PARA::

PARA::


LANGUAGE: ENGLISH



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9 of 62 DOCUMENTS


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 inplace for the airframer to add 800 jobs at peak production to the 270 engineering and support staff currentlyengaged 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.

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 vehiclecontrol systems.

DUCOMMUN GETS THIRD-QUARTER MILITARY BOOST

ENGINEERING Sales to military programmes such as the Northrop Grumman X-47B UCAS and the BoeingC-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 bankruptcyprotection, with hopes to emerge by the end of the year. Separately, Carl Icahn and Icahn Capital haveagreed to support CIT's restructuring with an incremental $1 billion committed line of credit. CIT Aerospacehas 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 trainingcentre to support the engine's users in south Asia. The training centre will begin operations by late January2010 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) onrevenue down 11.2% to S$248 million in the second quarter ending 30 September. The maintenance arm ofSingapore Airlines says: "In tandem with the airline industry's early signs of recovery, the group posted abetter performance in the second quarter compared to the first quarter. However, the prospects for asustained recovery remain uncertain."

AERO INVENTORY: TROUBLES BROADEN

ACCOUNTING Parts management firm Aero Inventory says the inventory valuation issue that led to thesuspension of its London share trading last month is "broader than first thought", involving both accountingbook value of parts and physical quantities. The board is reviewing the accuracy of recent financial reportsand the positions of chief executive Rupert Lewin, finance director Hugh Bevan and chief operating officerMartin Dodge. Business development director Colin Trupp is now acting chief executive and Swag Mukerji isresponsible for financial operations.

LOAD-DATE: November 9, 2009

LANGUAGE: ENGLISH



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10 of 62 DOCUMENTS


November 3, 2009

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 industryprogrammes, including development of the AVIC ARJ21 and Comac C919 regional jets. The USA considerssubsidies 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-monthoperating 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 itsgovernment-owned parent, the troubled insurer AIG, dipped into its revolving credit with the US FederalReserve to make the repayment. ILFC has been for sale since last year as AIG seeks cash to repay USTreasury bailout funds.

HAL TO MANUFACTURE BOEING 777 FLAPERONS

OUTSOURCING Boeing has contracted India's Hindustan Aeronautics to manufacture the compositeflaperons 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 16.9billion ($2.4 billion) for the nine months to the end of September, during which operating income droppednearly 11% to SKr 871 million. The company cited a steady inflow of small and medium-sized orders duringthe period.

MILITARY OFFSETS COMMERCIAL DECLINE

FINANCE Lower volumes in commercial aerospace at Honeywell were partially offset by higher military salesto leave nine-month pre-tax profits down 17% at less than $1.4 billion on sales down 14% to 48.1 billion inthe company's aerospace segment.

PROFITSUPBUTBACKLOGDOWNATBELL

ROTORCRAFT Textron's Bell helicopter business recorded a 25% rise in third quarter profits to $79 milliondespite an 11% drop in sales to $628 million, thanks in part to lower costs, a gain from the termination of aforeign 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 millionand operating profit fell 32.5% to $69.6 million, but chief executive Amin Khoury says the quarter wasprobably the trough for orders and backlog; he expects a "substantial increase in both revenues andearnings in 2011".

AERO INVENTORY HALTS TRADING

ACCOUNTING Parts management firm Aero Inventory has suspended share trading on London's AlternativeInvestment Market. The company suspects neither fraud nor theft, but believes a parts valuation issue "mayhave a material effect" on its accounts.


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11 of 62 DOCUMENTS


October 27, 2009

INTRODUCTION:

SECTION: BUSINESS

LENGTH: 542 words

Business briefs

ENGINES OUTPERFORM LEASING AT GE

RESULTS Engine maker GE Aviation reported a slight dip in nine-month revenue, to just below $14 millionfor 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 aircraftleasing 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 supplyof Airbus A350 XWB production tools for the aircraft's keel beam, a composite structure designed tostrengthen the central fuselage. The company, based in Toulouse, is a subsidiary of civil and defencesupplier ECA.

VOLUMES TO STAY UNDER PRESSURE: EATON

MANUFACTURING Eaton, the Cleveland-based manufacturer, saw aerospace segment operating profits fall23% to $61 million as revenue declined 16% to $394 million. Chief executive Alexander Cutler estimatesaerospace markets were down 14% for the quarter - 11% in the USA and 19% elsewhere. "We anticipatethat 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 BoeingCapital aircraft leasing subsidiary, but changed the rating outlook to negative from stable owing to "negativedevelopments" that have weakened Boeing's financial flexibility. The rating agency notes that airlines andleasing companies continue to be strained so production cuts could follow. Moody's estimates that a 20% cutin 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 2010-14to Spanish companies involved in the Airbus A350 XWB programme. Spain's workshare on the programmeis 11%. Companies will be able to apply for up to 40% of their experimental development costs and up to60% of their industrial research costs. Repayment terms, according to the government, will "depend on theoutcome of the [A350] project".

AEROMECHANICAL TO ACQUIRE WINGSPEED

BANKRUPTCY A US bankruptcy court has approved a bid by AeroMechancial Services to acquire theassets of Wingspeed for $250,000. Concord, Massachusetts-based Wingspeed, which developed andmarketed Iridium and Internet voice, data and aircraft messaging services, was placed into Chapter 7liquidation 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 powerremains 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 passengerrevenues declined from the previous year, and the tenth consecutive month of ticket price declines. ATA'slatest cargo indicators show a 12% decline in cargo revenue tonnekilometres in August, the thirteenthconsecutive month of falling volumes.


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September 22, 2009

INTRODUCTION:

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 inBoeing's 787 programme and issues of delivery pace with other aircraft manufacturers. First half turnover fell19.7% to ?238.6 million.

BRUSSELS CLEARS RESEARCH LOAN TO GKN

STATE AID European Commission regulators have approved ?60 million ($99 million) in UK government aidto GKN to support aircraft wing component research. The aid is in the form of a repayable loan, to bereimbursed with interest through a levy on future sales. European competition commissioner Neelie Kroessays 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 theInternational Air Transport Association's earlier loss forecast. European airlines are bracing for the largestlosses 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. Lossprojections for Middle Eastern carriers are cut from $1.5 billion to $0.5 billion, while expected losses of $500million in Africa remain unchanged.

BOEING CHARLESTON MACHINISTS REJECT UNION

LABOUR Machinists at Boeing's newly acquired Charleston facility in South Carolina have voted againstcontinued 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 haltingproduction 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 ofUK-based Burwood Fastener Products and launched a new European division that will operate under thename Interfast Europe, with David Proctor as general manager and Howard Gerstein as director of sales andmarketing. No changes to existing staff are anticipated. Interfast now has nine stocking locations acrossNorth 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 largerAerCap, regarding a possible merger. Genesis, which manages 55 aircraft, has only confirmed that it is intalks 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 helpedZodiac Aerospace post a 9.4%rise in sales for its year to 31 August to ?2.2 billion ($3.2 billion), but thecompany says like-for-like sales were down 5.4%and full-year profit growth will fall short of previousforecasts. Revenue was hit by "significant" levels of destocking linked to falling aircraft production rates andBoeing 787 and Airbus A380 delays.

LOAD-DATE: September 28, 2009

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13 of 62 DOCUMENTS


September 22, 2009

INTRODUCTION:

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 inBoeing's 787 programme and issues of delivery pace with other aircraft manufacturers. First half turnover fell19.7% to ?238.6 million.

BRUSSELS CLEARS RESEARCH LOAN TO GKN

STATE AID European Commission regulators have approved ?60 million ($99 million) in UK government aidto GKN to support aircraft wing component research. The aid is in the form of a repayable loan, to bereimbursed with interest through a levy on future sales. European competition commissioner Neelie Kroessays 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 theInternational Air Transport Association's earlier loss forecast. European airlines are bracing for the largestlosses 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. Lossprojections for Middle Eastern carriers are cut from $1.5 billion to $0.5 billion, while expected losses of $500million in Africa remain unchanged.

BOEING CHARLESTON MACHINISTS REJECT UNION

LABOUR Machinists at Boeing's newly acquired Charleston facility in South Carolina have voted againstcontinued 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 haltingproduction 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 ofUK-based Burwood Fastener Products and launched a new European division that will operate under thename Interfast Europe, with David Proctor as general manager and Howard Gerstein as director of sales andmarketing. No changes to existing staff are anticipated. Interfast now has nine stocking locations acrossNorth 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 largerAerCap, regarding a possible merger. Genesis, which manages 55 aircraft, has only confirmed that it is intalks 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 helpedZodiac Aerospace post a 9.4%rise in sales for its year to 31 August to ?2.2 billion ($3.2 billion), but thecompany says like-for-like sales were down 5.4%and full-year profit growth will fall short of previousforecasts. Revenue was hit by "significant" levels of destocking linked to falling aircraft production rates andBoeing 787 and Airbus A380 delays.


LANGUAGE: ENGLISH



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14 of 62 DOCUMENTS


September 8, 2009

INTRODUCTION:

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 $2billion of the lessor's portfolio of nearly 1,000 aircraft and use it to start a rival business, according to a WallStreet Journal report. ILFC's parent, the insurance giant AIG, has been trying to sell the lessor for a year toraise cash to repay US government bailout aid, but wants to hold out for a better price than the $4 billion it isthought 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 LadislavSimek as part of a management reshuffle to focus on aerostructures development. The Czech manufactureris involved in subassembly and component work on programmes including the Airbus A320, BombardierCSeries 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 anInternational Air Transport Association sample of 54 carriers. Losses reached $2 billion during the secondquarter, when airlines typically make 50% of their yearly profits, following net losses of $4 billion in the firstquarter.

CONTINENTAL MOVES TOWARDS CASHLESS CABINS

RETAILING Following a trial that ran through the summer, Continental Airlines is likely to become the latestcarrier to transition to a cashless cabin, following American Airlines and United Airlines in moving towardcredit 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 AustrianAirlines 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 orexisting 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 increasetoSFr790 million ($740 million) and a 40%earnings before interest and taxes decline to SFr20.1 million, withspace and defence businesses performingwell, but civil aerostructures and business jet maintenancestruggling. 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 tobetween $190 million and $200 million from earlier guidance of between $200 million and $210 million, citingloss of a US military radio contract it had expected to win and continued weakness in air transport andbusiness jet markets.

AMECO BEIJING OPENING 747 HANGAR NEXT MONTH

MAINTENANCE Air China-Lufthansa maintenancejoint venture Ameco Beijingwill in Octoberopen itsmuch-awaited Boeing 747 hangar. The firm had planned to open the 270 million yuan ($40 million) hangar in2008's fourth quarter, but the government ordered work stopped in the run-up to last year's Beijing Olympics.


LANGUAGE: ENGLISH



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August 25, 2009

INTRODUCTION:

SECTION: BUSINESS

LENGTH: 544 words

Business briefs

HAMPSON SELLS MACHINING BUSINESS

MANUFACTURING Hampson Industries has sold its UK aerospace machining business to Darwin PrivateEquity for ?23.7 million ($38.8 million) in cash, leaving the group with about 60% of its revenue coming fromaerospace tooling sales. The group will also focus on developing advanced composite components. Chiefexecutive Kim Ward said the demand by large aerospace programmes for high-value tooling points to strongrevenue growth during the second half of this year and into 2010-11. The divested business, which employs300 people at sites at Alcester, Birmingham and Leicester to make turbine engine components, made apre-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, citingdifficulties posed by the economic environment. The carrier, which still wants to "strengthen" its existingSkyTeam alliance relationship with Czech Airlines with unspecified "new areas of co-operation", had beenshortlisted by the Czech government. Czech Airlines recently said it would seek a possible 860 redundanciesas 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, afterRepublic agreed to waive the distributions in the $150 million unsecured claim it logged under Frontier'sChapter 11 restructuring. Southwest Airlines had submitted a $170 million bid. Republic and Frontier had anEmbraer 170 feeder agreement that terminated once Frontier declared Chapter 11 bankruptcy protection inApril 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 isexpected to be completed by year-end. Pier Francesco Guarguaglini, chief executive of AgustaWestlandparent 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 corebusiness and is selling another 2% to major Cathay Pacific stakeholder Swire Group. Air China and CathayPacific describe the changes as a "realignment" of their respective interests and a platform for furtherco-operation.

UNITED AIRCRAFT

CORRECTION In "United stance" (Flight International, 11-17 August) we inadvertently attributed a quote

from an anonymous Russian aerospace executive criticising the United Aircraft organisation to AlexeyFedorov, United Aircraft chairman and president, who clearly does not share that view.


LANGUAGE: ENGLISH



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16 of 62 DOCUMENTS


August 11, 2009

INTRODUCTION:

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 tosupport manufacture of Antonov An-148 regional jets. VASO needs to achieve an estimated annual output ofat least 24 aircraft, and supply between 200 and 250 An-148s, to recoup project costs, but UAC believesthere is a potential for selling twice as many if the twinjet receives international certification and is fitted withWestern 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 ?259million ($365 million). Total sales for the segment were down 2.8% as CFM56 engine deliveries slid by 86units 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 higherservice revenue, now account for more than half the delivered CFM56 fleet.

HAL WINS FOLLOW-ON AIRBUS DOOR ORDER

AEROSTRUCTURES Bangalore-based Hindustan Aeronautics has signed a follow-on contract with Airbus tosupply 2,000 forward passenger doors for a variety of aircraft types. The deal follows an order for 1,460shipsets 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 theformer Alitalia servicing operations Atitech and Alitalia Maintenance Systems. The administrator for thecompanies 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 throughits EAE joint venture with Brazil's Synergy. EAE was established in March to supply unmanned air vehiclesand other advanced systems and is already evaluating some "major programmes", according to an IAIsource.

MILITARY SALES KEEP MEGGITT GROWING

MANUFACTURING Aerospace equipment, sensing and defence systems maker Meggitt posted a 32% risein first-half pre-tax profit to ?100.1 million ($170 million) as revenue increased 11% to ?586.4 million. Civilaerospace 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 salesto $1.46 billion as commercial aviation sales fell 4% to $972 million. The airframer delivered 35 commercialaircraft 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$49million ($34 million). Turnover grew 1% to S$499 million, but cost of sales increased 4% to S$411 million.


LANGUAGE: ENGLISH



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July 21, 2009

INTRODUCTION:

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 cancelledflights 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 tookhis claim to the court with territorial jurisdiction over Munich Airport. Air Baltic had argued that the relevantjurisdiction was Riga.

Chromalloy targets Latin America

SPARE PARTS US parts and repair company Chromalloy has reached an exclusive agreement withMiramar, Florida-based TSI Aviation for sales and marketing of parts manufacturer approval parts, includinghigh-pressure turbine blades for commercial and military aircraft operators in Mexico, Central and SouthAmerica. 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 newplant in Stevenson, Washington, to make ScanEagle and Integrator aircraft. Separately, Insitu has deliveredits 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 anet loss of $115 million - after an operating profit of $2.7 million in 2007 - despite increasing revenue nearlytenfold to $6 million. The company, which is developing the Sukhoi Superjet 100 regional aircraft, saysoperating costs were held at about 2007 levels, but the results reflect a fourfold reduction in governmentalgrants, 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 ithopes 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 andinternational investors.

Republic to buy bankrupt Frontier

AIRLINES A judge overseeing the restructuring under Chapter 11 bankruptcy protection of Denver-basedFrontier Airlines has approved its purchase, in the absence of a higher bid, for $108 million by RepublicAirways, which is one of Frontier's largest unsecured creditors and was an operating partner until bankruptFrontier ended their air services agreement in June last year. Republic is also in the process of closing thepurchase of Midwest Airlines.

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 inconnection 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 inLondon for a pre-trial review, after being formally accused of cartel offences. Their trial will begin on 18January 2010, and is expected to last two weeks.

LOAD-DATE: July 20, 2009

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July 14, 2009

INTRODUCTION: BRITISH AIRWAYS, SAS FACE LABOUR UNRESTCOST-CUTTING

SECTION: BUSINESS

LENGTH: 2 words

Business briefs

Two major European airlines face a summer of discontent after failing to reach cost-cutting agreement withkey unions. At British Airways, 2,000 cabin crew overwhelmingly rejected a plan to see them forego amonth's pay, as part of a wider proposal to slash 3,500 jobs in the wake of heavy losses. Talks were set tocontinue last week under the auspices of the ACAS conciliation service. Separately, the SAS Group issearching for a cost-cutting plan after failing to reach productivity agreements with its 39 trade unions duringnegotiations in which "short deadlines" had been set in a bid to reach deals before summer. BOMBARDIERCLOSES $600M CREDIT FACILITY FUNDING Bombardier has closed a $600 million letter of credit facilityagreement with a syndicate of financial institutions to support operations, replacing a facility due to expire inDecember. Separately, Moody's changed its rating outlook for Bombardier to stable from positive, affirmed itsBa2 corporate family and Ba2 senior unsecured ratings and lowered its speculative grade liquidity rating toSGL-3 from SGL-2, noting "the potential for increased cash consumptiveness associated with loweraerospace order and delivery activity". LUFTHANSA-AUSTRIAN DECISION DELAYED COMPETITION

European Commission competition regulators could delay a decision on Lufthansa's acquisition of AustrianAirlines until November, after opting to carry out an in-depth inquiry into competition on routes betweenAustria, Germany, Switzerland and Belgium. Lufthansa had hoped for a decision by the beginning of July.PRAXAIR BUYS ENGINE COATINGS SPECIALIST ACQUISITION Praxair Surface Technologies hasacquired industrial and aviation gas turbine protective coatings supplier Sermatech for an undisclosed sumfrom private equity firm Arsenal Capital Partners. Sermatech, whose slurries and diffusion and thermal-spraycoating processes protect metal parts at high temperatures, had 2008 sales of $116 million compared withPraxair's $575 million. TURKISH AIRLINES TO SET UP FUELLING VENTURE PARTNERSHIP TurkishAirlines is entering what is believed to be a 50-50 partnership with Koc Group energy company Opet to setup 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 developerSeambiotic has through its US subsidiary entered an agreement with NASA Glenn Research Center toresearch open-pond growth processes for microalgae for use as aviation biofuel feedstock. The objective isto improve production processes and to study and qualify algae oil from alternative species as candidateaviation fuel at NASA test facilities. BOEING URALVENTURETOSTARTOPERATIONS TITANIUM UralBoeing 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 profilersto fabricate rough-machined titanium forgings for the 787 programme. The first shipment to Boeing'sPortland, Oregon facility is scheduled for the beginning of next year, and at full capacity the plant will be ableto produce 800t of structural components for up to 20 airframes a year.


LANGUAGE: ENGLISH



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June 30, 2009

INTRODUCTION:

SECTION: BUSINESS

LENGTH: 534 words

Business briefs

LUFTHANSA SETTLES BMI TAKEOVER DISPUTE

AIRLINES A legal dispute between Lufthansa and BMI chairman Sir Michael Bishop has been resolved outof court, paving the way for the German flag carrier to take over BMI. Lufthansa is to acquire Bishop's50%-plus-one-share stake in BMI on 1 July for ?48 million ($79 million) through UK-based LHBD, and alsopay Bishop's company ?175 million to cancel a put option that had been at the centre of the dispute. Oncetraffic 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, thejoint venture company formed last year by GE's Middle River Aircraft Systems thrust reversers and nacellesbusiness 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 specialisedAirbus A320 operation, AerVenture, a stake previously owned by Kuwait's LoadAir. AerCap and LoadAir hadequally owned AerVenture but earlier this year AerCap acquired the entire company after LoadAir failed tomeet 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 amountingto SKr304 million ($38 million) for research and development of General Electric GEnx powerplantcomponents. According to Brussels, the Swedish government is supporting the project, through a repayableadvance, to "reduce the risk" linked to programmes where "returns on investment tend to be uncertain andslow".

BAE IN SEARCH FOR HEAD OF US OPERATION

MANAGEMENT BAE Systems' US subsidiary has appointed former US Marine Corps general and currentboard member Anthony Zinni to be chief executive and president while the company searches for apermanent successor to Walt Havenstein, who has accepted the chief executive job at SAIC. Havenstein'stenure has seen BAE's US operations grow to become one of the Pentagon's largest contractors, spanning adiverse 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 thedevelopment of composite capability and skill development in Wales. The cash will boost Airbus's localtraining initiatives and contribute to its ?100 million investment in a composite wing assembly line building atits Broughton facility.

UK SUPPLY CHAIN EFFORT GOES DOWN UNDER

INDUSTRY The Australian Aerospace Industry Forum has become the first trade group outside the UK toadopt the Society of British Aerospace Companies' Supply Chains for the Twenty-first Century initiative toimprove supply chain performance. SC21 was launched in 2006 and has 500 UK-based member companies.


LANGUAGE: ENGLISH



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June 16, 2009

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 EuropeanSpace Agency's Ariane launchers programme, despite its concerns about cost efficiency and politicaltransparency. 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 amonth should Boeing order a rate increase. Fuselage business head Richard Buchanan says Spirit willdeliver 10-12 787 shipsets in 2009 and hold that two-a-month rate into 2010 until Boeing signals itsreadiness 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 thecarrier's posting of a pre-tax loss of ?401 million ($643 million) and ?150 million operating loss for its fiscalyear 2009, to the end of March, and withdrawal of any earnings guidance for its current, 2010 year. S&Pcredit analyst Eve Greb says: "We had anticipated BA to target a level of operating performance in fiscal2010 comparable with the previous year." In its year to 31 March 2008, BA made a pre-tax profit of ?922million.

TATA GEARS UP FOR US CLIENT

ROTORCRAFT Tata Advanced Systems is to invest Rp10,000 million ($210 million) in a production facility in

the aerospace special economic zone near the greenfield international airport at Shamshabad nearHyderabad to make large commercial transport helicopters for an as-yet unnamed US company. The facilityshould 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 VirginAtlantic'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 successfulbusiness in terms of a strong safety culture and growth in Nigeria", adding that it "doesn't need the brandingcost" 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-opticaland 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 includethe 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-basedAerospace Filtration Systems, Paris-based Le Bozec Filtration and Systems, and Valencia, California-basedWestern Filter operations as the Donaldson Aerospace and Defense Group.


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May 26, 2009

INTRODUCTION:

SECTION: BUSINESS

LENGTH: 539 words

Business briefs

GENERALDYNAMICSANDELBITFORMUAV VENTURE

UNMANNED SYSTEMS General Dynamics Armament and Technical Products and Elbit Systems ofAmerica have formed a 50-50 joint venture based at Fort Mill, South Carolina, named UAS Dynamics todevelop 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 NorthAmerica, located in Newington, Connecticut. AENA will be renamed EDAC Aero and remain a supplier toMTU of rotating components, including disks for the IAE V2500 engine programme. EDAC acquired theassets 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 followingits acquisition by TAT Technologies. The two Israeli companies will jointly market auxiliary power unitsintegrated with air conditioning units as complete civil aviation solutions. To date, Bental motors and servoactuators have been used in unmanned airvehicles and jet engines.

AGUSTAWESTLAND OPENS NEW PORTUGAL OFFICE

ROTORCRAFTFinmeccanica's AgustaWestland unit has opened a regional business headquarters inLisbon. AgustaWestland managing director Graham Cole says AgustaWestland sees "significant futurebusiness opportunities" in Portugal. Over 20 commercial and military helicopters have been ordered and arein service in Portugal, including AW101, Lynx, AW139, AW109 Power and Grand models, while 10 NH90helicopter 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 for31 of the 74 Boeing 787s it has on order for delivery from July 2012. ILFC has contracted with Airbus andBoeing to buy 150 new aircraft for delivery through 2019 with an estimated purchase price of $15.7 billion, 30of which are scheduled to be delivered during the restof 2009. ILFC took delivery of 18 new aircraft duringthe 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 100employees on short-time working from 1 June in response to a "spectacular fall" in business during the firstquarter. The carrier says the measure is necessary to prevent "major" job cuts. Swiss parent Lufthansa hasalready 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 LuisInacio 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 packagebut said: "We must find a balance between the airlines' right to make a profit, and the citizens' rights to beable to travel."


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May 19, 2009

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 theonly 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 the900-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 arepossession service and temporary registry to provide seizure and continuing airworthiness managementfor commercial aircraft that are repossessed or returned early from a lease. International Bureau of Aviationchief operating officer Phil Seymour says aircraft can be given a "secure temporary home" on the Isle of Manregistry while in transition between owners.

AUSTRIAN ownerS ACCEPT LUFTHANSA OFFER

PRIVATISATIONLufthansa's offer for Austrian Airlines has been accepted by more than 85% of theVienna-based carrier's shareholders, including state holding company OIAG, with a 41.56% stake, and thesyndicate of Austrian core shareholders thataccount for about7%. Austrian executive board member PeterMalanik 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.

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 wasdownnearly 11% to $17.9 million. Commercial revenue fell 16% to $34.4 million, but military revenue was up6% 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 tolure 8,000 United Airlines mechanics away from its rival,the International Brotherhood of Teamsters. Unitedmechanics had been with the IAM for several decades before 2003, but the Teamsters says it is notconcerned by IAM's offer, claiming that since taking over mechanic representation in 2008 it has savedhundreds of jobs threatened by outsourcing.

AIRWORTHINESS FIRM TAKES STAKE IN RIVAL

SAFETYUKairworthiness consultancy and safety training provider Avisa Aviation Safety Systems hasacquired one-third of EASA-approved design and certification services firm aeroDAC for an undisclosedsum. 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 profitsto $15.3 million on sales up 13% to $117.1 million for the first quarter, as all four of its aerospace operatingsegments tuned in "solid" results. The company said results were driven by continued strong performance atits Jacksonville plant and in its helicopters segment, adding that Wichita operations had improved on lastyear.


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March 17, 2009

INTRODUCTION:

SECTION: BUSINESS

LENGTH: 548 words

Business briefs

UNITED TECHNOLOGIESCUTS FORECAST

OUTLOOK Pratt & Whitney engines and Sikorsky Helicopters parent company United Technologies cut its2009 revenue forecast by $2.7 billion to about $55 billion and boosted 2009 restructuring charges by $600million, to $750 million, to take its 2009 headcount reduction to 11,600 worldwide. Chief executive LouisChenevert says: "The outlook for commercial aerospace and global construction markets has continued todeteriorate and the economic recovery previously anticipated in the second half of 2009 now appearsunlikely."

SAFRAN MOVES TO EXPAND IN MEXICO

MANUFACTURING France's Safran Group is to expand its presence at the aerospace industrial regionbeing established in the Mexican state of Queretaro. According to Queretaro undersecretary of economicdevelopment Marcelo Lopez, Safran will in April or May start construction of two plants to produce from 2010landing gear components and engine parts for its Messier-Dowty and Snecma divisions. At other sites in thearea 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 secondtime 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 unionexecutive director Ray Goforth says: "These engineers are the experts in aerial refuelling tankers. If Boeingwants 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 financialyear and by a further ?80 million over 2010-11. The airline expects 2009-10 revenue to fall by 5% and fuelcosts to drop by 10%. Summer 2009 capacity will be 2% below last year. Full-year 2008-9 revenue isexpected 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 freighterconversion and executive jet divisions. The firm employs around 16,500 staff. The move comes on top of anearly-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 theflying and maintenance operations of beleaguered Olympic Airlines. Marfin may also buy theground-handling operations if talks with Swissport fail. Marfin, a diversified Greek company with minorityownership from a Dubai-based investment group, beat out proposals from US-based Chrysler Aviation andprivately 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 planto quit Dublin, where it employs 1,135 people. SRT claims "more than 20" expressions of interest in parts of

the business,but adds: "In the current market conditions, it will not be possible to have a sustainablebusiness."

LOAD-DATE: April 2, 2009

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March 3, 2009

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 capableof investing enough to keep up with rising demand for composite products, with likely winners includingAlenia, GKN, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Spirit and Vought, according to areport by consultancy Roland Berger. Other firms will form a second tier of suppliers, which to survive willhave 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 aluminiumstructures 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 toproduce 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 ResearchInstitute, AVIC's aircraft landing gear company and other subsidiaries, is the first step in a domestic industryrestructuring that began with the merger last year of the holding companies AVIC I and AVIC II. It is intendedto restructure the industry around products including air transport, helicopters and propulsion rather than bygeographic regions.

ORDERS 'MAY LANGUISH BELOW TREND': MOODY'S

OUTLOOK Moody's Investors Service has lowered the global aerospace and defence industry outlook tostable from positive, citing increasing uncertainties including the availability of financing for planned aircraftdeliveries, 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 firmwarns that even if the backlog is sustained at fairly robust levels a "protracted economic malaise implies thatorders 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 toAstrotech. Chief executive Thomas Pickens says the new name "more accurately reflects the company'scurrent 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, looksset to supply services to Abu Dhabi, part of the United Arab Emirates, which has no diplomatic relations withIsrael, but has been using Eros A services since 2006. The contract, worth about $25 million yearly, will allowdirect access to the Eros B downlink, but without images of Israel. The satellite provides images withresolution 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 Texasbillionaire charged with massive investment fraud by the US Securities and Exchange Commission, owned astake in the airline. Stanford once owned the airlines Caribbean Star and Caribbean Sun, and held high-levelmerger and shareholding talks with Liat in 2006 and 2007, but has never had a stake in the company, saysLiat.


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February 17, 2009

INTRODUCTION:

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 CZAWpresident Chip Erwin and other US investors who have effective operational control. A Czech court orderedCzech 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 overrepayment of a $690,000 loan Slavia called in early. Erwin says CZAW managed to increase aircraftshipments by about 40% to 157 in 2008 despite the dispute, which has hit supplier confidence and led somecustomers 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 aPratt & Whitney component repair shop at Singapore's Seletar airport have been delayed and neither willopen this year as planned. R-R, which is under increasing political pressure to create jobs in the UK, givesno revised timetable, but says it remains committed to building its first commercial aircraft engine factoryoutside 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 lastyear received ?20 billion ($29.2 billion) in UK taxpayer bailout funds, will put RBS Aviation Capital up for salethis month, say industry sources. One London banker says political imperatives are driving a sale: "From ataxpayer's point of view, it doesn't make sense for RBS's capital to be deployed overseas to help createaviation jobs."

FURTHER ROW 44 DELAY COULD HURT PARTNER

IN-FLIGHT ENTERTAINMENT Antenna maker AeroSat has warned the US Federal CommunicationsCommission 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 areunfounded.

SPACEHAB ROCKETS INTO THE BLACK

SPACEFLIGHT Houston-based Spacehab turned a $1.5 million net profit for the six months to 31 Decemberon revenue of $9.8 million. The launch and payload services and engineering firm lost $33.7 million onrevenue 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 ($63million) on revenue up 23% to $424C.6 million, getting a boost from new military and civil contracts includingmulti-year deals with US retailer Home Depot for training on its Dassault Falcon and with Elite Jets forGulfstream G450 and Hawker 850XP training in Dubai.

BRUSSELS DOUBTS OVER AUSTRIAN TAKEOVER

PRIVATISATION Lufthansa's intended acquisition of Austrian Airlines faces a European Commissioncompetition investigation to examine concerns that Austrian is not being sold for a fair price. Lufthansa is topay ?366,268 ($474,000), or ?0.01 per share, for the Austrian state's 41.56% holding in its flag carrier.


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February 10, 2009

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 thatwould otherwise have been a "record year" for the cabin interiors specialist. The company posted a full-yearpre-tax loss of $87.8 million, compared with a $215.1 million profit last year, despite a 25.8% sales increaseto $2.1 billion. Chief executive Amin Khoury anticipates a weak first quarter 2009 owing to decreased retrofitshipments, 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 help2009 sales grow 1-2%. Last year the company posted a 34.8% increase in pre-tax profits to $966.6 millionon sales up 10.5% to $7.06 billion.

INDUSTRY FORECAST BLEAK, SAYS BOYD

AIRLINES US aviation consultant Michael Boyd issued a bleak forecast for the US airline industry, saying 41million fewer passengers will fly commercially in 2009 versus 2008, and that passenger levels may not againreach last year's levels until after 2014. "Our model assumes a return to economic stability in 2011," saysBoyd.

GULF AIR PRESSED TO OUST NAF

MANAGEMENT Middle Eastern carrier Gulf Air is considering its response to a Bahraini parliamentary callfor a new chief executive, to replace Bj?rn N?f, and for increases to the proportion of Bahraini citizensoccupying the carrier's most senior roles. Naf has headed Gulf Air since mid-2007 and has pushed toreverse 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 recoverfinancial 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 ($16.1million) a 70% controlling share in Insensys, a supplier of optical fibre sensor technology. Moog has anoption 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 HighStandard Aviation, a $31 million-sales Miami-based provider of electrical/electromechanical, hydraulic andpneumatic repair services.

OLYMPIC PRIVATISATION FAILS

GREECE Attempts by the Greek government to sell flag carrier Olympic Airlines failed after the highest bidfor its flight operations division came in at just ?24.5 million ($31.5 million). The division had beenindependently 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 financeministry. Aeroflot confirmed it is interested in a deal.


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February 3, 2009

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 operatingprofits 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 thefourth quarter owing to the Boeing machinists' strike, but in non-US markets they grew 7%. Chief executiveAlexander 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 forcedBelgian-based maintenance firm Sabena Technics to cut a Brussels civil heavy maintenance production lineand axe jobs under a plan that could affect one-third of its 1,100 staff. Group chief executive ChristopheBernardini expects a loss of ?13 million ($16.6 million) for the 2008 financial year on a turnover of ?125million 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 $1.2billion respectively.

STRONG FINISH TO 2008 FOR GENERAL DYNAMICS

GROWTH General Dynamics' aerospace segment enjoyed strong fourth quarter and full-year growth asoperating profits for the three months to the end of December jumped nearly a quarter year-on-year to $264million 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 apilot scheme with logistics specialist Jettainer, under which it will use 1,000 containers from fourmanufacturers. Aluminium LD3 containers weigh around 80kg (175lb), but a composite equivalent can be15% lighter. Jettainer managing director Alexander Plumacher believes such containers could generatesavings in the "upper double-digit million" range.

IAI PUTS CASH BEHIND INDIA VENTURE

DEFENCE Israel Aerospace Industries has approved up to $50 million investment in Nova , the Indiandefence products maker it formed last year with Tata. The company was created to sell unmanned airvehicles, 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 factit 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 UKaircraft-maker de Havilland, becoming Hawker de Havilland when it was bought by Hawker Siddeley in the1960s.


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January 27, 2009

INTRODUCTION:

SECTION: BUSINESS

LENGTH: 523 words

Business briefs

SIKORSKY GIVES LIFT TO UNITED TECHNOLOGIES

RESULTS Aerospace businesses helped conglomerate United Technologies overcome flaggingperformance at its Carrier air conditioning and Otis elevators businesses to report modest 2008 consolidatedsales and profit gains. The Sikorsky helicopter division's operating profits rose 28.2% to $478 million on salesup 12.1% to $5.37 billion, Pratt & Whitney profits were up 5.5% to $2.12 billion on sales up 6.9% to $13billion, and Hamilton Sundstrand made $1.1 billion (up 13.7%) as sales reached $6.2 billion (up 10.1%).

MULTI-BILLION DOLLAR LOSSES AT UNITED, AMERICAN

AIRLINES United Airlines and American Airlines posted huge 2008 losses as soaring fuel prices took theirtoll. United parent UAL says its fuel costs increased by $2.9 billion in 2008, driving a $1.3 billion loss for thefourth quarter and $5.3 billion in losses for the full year. In 2007, UAL lost $53 million in the fourth quarterand $403 million for the full year. American parent AMR lost $2.1 billion for 2008 compared with the $504million 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 AviationIndustry Corporation's new aircraft engine company, which will develop and build jet engines for a new150-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 Bezverkhnyas the chief of its newly created civil aviation arm. Sergei Galperin has been appointed vice-president ofOAK's Tupolev unit.

DAE ARMED WITH $800 MILLION FACILITY

FINANCING Dubai Aerospace Enterprise has closed with a group of lenders a three-year $800 millionequivalent term loan and revolving credit facility to be used "for general corporate purposes". Dubaidescribes DAE as an "important strategic investment" in the emirate's bid to become an aerospace centreand 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 itsTrollhattan facility in response to falling demand for new aircraft. Another 100 or more white collar jobs will beeliminated 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 anundisclosed sum privately held High Standard Aviation, a Miami-based provider ofelectrical/electromechanical, hydraulic and pneumatic repair services. High Standard Aviation has annualsales 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$7.7million ($6 million) grant from the government of Ontario to support a C$50 million, five-year investment innew technology that will create 133 jobs. Customers include Boeing, Bombardier and Embraer.


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January 20, 2009

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 componentmanufacture using its patented fluid-based curing process following the recent approval for its first aerospaceparts manufactured at its Fremantle, Western Australia site. The company, which has a manufacturingdevelopment contract with Airbus, a co-operation and development agreement with Eurocopter andaccreditation 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 aflight-training device for delivery to Continental's Houston training centre in 2009. Another two 737 simulatorsand one for Airbus A320s will in 2010 go to a joint order from Air China and Shandong Airlines. CAE valuesthe 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 Universityof 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 92Embraer 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 169aircraft 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 itachieved the highest revenues in its history last year - although it has yet to disclose any figures - but is

uncertain about when it will start turning a profit. Chief executive Bj?rn N?f says the fuel-price increases lastyear 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 haverequested, and been granted, the removal of a condition in their contracts that would provide forcompensation 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 thatfundamentally 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 airlineshave since 1997 been barred from owning any shares. A 20-25% ceiling is one option under consideration.


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January 13, 2009

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 courtedby 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

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 employeesdespite the insolvency.

LUFTHANSA TECHNIK CREATES SUPPORT DIVISION

MAINTENANCE Lufthansa Technik has reorganised its maintenance operation for international carriersunder a new wholly owned subsidiary, Lufthansa Technik Maintenance, at Frankfurt Main and based on theinfrastructure of Condor Cargo Technik, which it took over in 2003. LTMI will eventually perform linemaintenance for all aircraft types supported by Lufthansa Technik, but initially will handle the AirbusA330/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 ElectricGEnx engine for the Boeing 787 and 747-8. The manufacturer is taking responsibility for the centre frame ofthe GEnx turbine and expects the agreement to be worth more than ?11 billion ($15 billion). Last year MTUsealed a 15% part?i?ci?pation in the Pratt & Whitney geared turbofan and PW810 business jet engineprogrammes.

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'smanagement team for 14 million Lats ($28 million). The Latvian government had opted against proceedingwith a full privatisation of the airline, effectively blocking SAS from gaining majority control. SAS has also justsigned 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 fueltank order from the US Air Force, a $41 million deal for 2,255 tanks for the KC-135 life extension programmefor 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 wonoperating 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 thoughtto have a ordered a unit for civil use, and the Israeli air force has been evaluating micro satellites launchedas 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 StockExchange's FTSE 250 index of mid-cap UK companies. In the past four years Hampson has completed sixUS acquisitions and now has a market capitalisation in excess of ?193 million ($290 million).


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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 andOctober, and the International Air Transport Association predicts "the toughest revenue environment in 50years" and "the worst-ever revenue outlook for the next two years", with the fall in revenues offsetting thebenefits of lower fuel prices. One positive story is that US carriers expect to report a $300 million profit in2008 - 1% of revenue.

SATURN MOVE KICKS OFF RUSSIAN CONSOLIDATION

PROPULSION Russia's state-dominated Russian Technologies is to consolidate major powerplant makersunder 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 thePowerJet 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 rising10.5% in 2007, according to Aerospace Industries Association figures. Total aerospace industry sales are onpace for a 2.1% increase to $204 billion, about $5.7 billion less than they would have been without the57-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 ConsumerCommission $5A million ($3.3 million) and $20A million respectively for price fixing in their cargo operationsbetween 2002 and early 2006. Both airlines, along with several others, had already been found guilty by USauthorities 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 theproduction of decoy flares for passenger and military aircraft. IMI chairman Avner Raz says the joint venturewill increase funding to develop new generations of flares and help IMI win US military contracts.

DUCOMMUN WINS $102 MILLION RADAR CONTRACT

SYSTEMS Ducommun Technologies has won a $102 million contract running until 2020 with Raytheon forthe manufacture and sub-system integration of radar racks and electromechanical enclosures for the BoeingF/A-18 E/F Super Hornet active electronically scanned array radar system and for F-15E radarmodernisation.

ANZ BUYS TWO REPAIR SHOPS IN AUSTRALIA

MAINTENANCE Air New Zealand is expanding its maintenance operations in Australia through the purchaseof Tenix Aviation and Masling Industries. Tenix supports general aviation and regional carriers at Adelaideairport, 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 toGloucestershire with the acquisition of Severn Aviation, to be renamed Bristow Academy. The move willupgrade Bristow's IR training from single- to multi-engine and roughly double student numbers, to about 55IR courses a month.


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December 9, 2008

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

checked bag fees, and food and beverage sales have been "as aggressive or more aggressive" thancompetitors'. Low-fare carriers WestJet and JetBlue already charge $7C ($5.56) and $7 respectively for apillow and blanket kit.

SPEEA UNION RATIFIES FOUR-YEAR BOEING DEAL

LABOUR Members of the Society of Professional Engineering Employees in Aerospace union have ratifiedfour-year collective deals covering nearly 21,000 Boeing personnel in Washington, Oregon, California andUtah. 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 intoadministration with the loss of all its 235 jobs bar a few left to assist administrator KPMG. The LondonSouthend airport-based company's fleet comprises nine BAe 146 and BAE Systems Avro RJ regional jetsand a pair of Boeing MD-83s. Flightline has previously performed subcontract work for carriers including AirFrance, British Airways, Lufthansa and Qantas.

SPACE TOURISM PIONEER LOOKS TO SCIENCE

PERSONAL SPACEFLIGHT Space Adventures, which has organised private flights via Russian Soyuz craftto the International Space Station, is to collaborate with consultants American Aerospace Advisors to providespace-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 insignificant technical breakthroughs."

GLOBAL OBSERVER LIFTS AEROVIRONMENT

UNMANNED SYSTEMS AeroVironment's unmanned aircraft systems business posted improved revenueand gross margin - up 15.8% to $102.5 million and 18% to $36.6 million respectively - for the six months to 1November, thanks largely to customer-funded research and development work on its Global Observerprogramme, 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 ManufacturersAssociation council followed the Society of British Aerospace Companies in deciding to ballot members on aproposed 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 makerIndustria 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 automotivemarkets.

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 Frenchair force's "40-strong" Lockheed Martin C-130 fleet. There are 14 C-130s in the fleet.


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December 2, 2008

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 areunder way with a "sophisticated" group of institutional investors and large sovereign wealth funds to buy backthe world's largest aircraft lessor from troubled parent American Investment Group, which was rescued bythe US government in September. Hazy, who founded ILFC 35 years ago and sold it to AIG in 1990 for $1.3billion, 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 ?16.1million ($24.5 million) on sales up 45% at ?110.5 million, thanks in part to acquisitions. Chairman ChrisGeoghegan says investments in composites and tooling have helped balance Hampson's exposure to theproduction, 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 financingsources for deliveries scheduled for the first half of 2009. He adds that it is possible but not certain that somevendor 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 strongfundamental business position."

PRATT & WHITNEY BUYS TANK MAKER

ROCKETS Pratt & Whitney Rocketdyne has acquired high-performance spacecraft and missile propulsioncomponents 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 venturein China, four months after taking majority ownership by buying out Hexcel, its joint venture partner in theformer BHA Aero Composites. State-owned China Aviation Industry Corporation retains a minority stake inBoeing Tianjin Composites.

MOOG WINS A350 SUPPLIER DEAL

FLIGHT CONTROL Airbus has awarded the Moog Aircraft Group a contract for the trailing-edge flight-controlactuation for the A350 XWB high lift system. It had already been contracted to supply the primary flightcontrol actuation system.

ROCKWELL COLLINS COMPLETES SEOS ACQUISITION

SIMULATORS Rockwell Collins has bought for an undisclosed sum SEOS, a maker of visual displays forflight 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 March2010 with the loss of up to 95 jobs. Some 90 jobs will be moved to GE's Bishops Cleeve site. Arle Courtperforms actuation and landing-gear work for programmes including the Airbus A320, A330, A340, A380 andBoeing 787.


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November 4, 2008

INTRODUCTION:

SECTION: BUSINESS

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 earningsgrowth at Rockwell Collins, but the company has trimmed sales forecasts for 2009. Fiscal fourth quarterearnings 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 strikelasted longer and global economic activity has slowed more than we planned". Collins lowered its 2009overall 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 theanticipated 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 thereduction in the civil fleet and of the Boeing strike will be largely mitigated by the recent strengthening of theUS dollar".

EADS SELLS LANDING GEAR MAINTENANCE UNIT DIVESTMENT EADS Sogerma will sell its Revimalanding gear maintenance division to a holding company co-owned by Revima managing director ChristianGrzanka and former Messier-Dowty and Aircelle chief Christian Knapp. Revima specialises in widebodyAirbus 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 contractfrom Airbus to supply initial fuselage curing tools for the A350 XWB programme, in addition to first A350tooling orders secured by the group in August, taking total Hampson tooling orders on the programme todate 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 RuagAerospace Sweden and Ruag Aerospace Austria, respectively, following their sale by Saab to Swisstechnology group Ruag. More than 500 employees at the two units will be retained, along with sites inSwitzerland, Sweden and Austria.

EXTEX RANGE BOOSTS TIMKEN PMA OFFER

AFTERMARKET Timken will add 600 US Federal Aviation Administration parts manufacturer approvalcomponents, including parts for Rolls-Royce 250, Pratt & Whitney Canada PT6 and Honeywell auxiliarypower units, to its portfolio of more than 1,400 PMAs with the acquisition, for an undisclosed sum, of theassets of replacement aeroengine parts maker Extex.

PRIVATE EQUITY BUYERS NAB GARDNER

INVESTMENT Gardner, the UK-headquartered aerostructure and engine components maker, has beenbought 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, CarlyleEurope Technology Partners II, now closed at ?530 million ($693 million) and looking to invest ?20-60 millionin buyouts and expansion capital in sectors including aerospace.


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November 4, 2008

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 ofSeptember were up 7% and 4% respectively, but fell short of expectations formed at the half-year mark asautomotive demand has slumped. The company issues no quarterly report, but an interim managementstatement expects "significant further deterioration" in global demand to cut fourth quarter automotive profitsby 70%. Aerospace markets remain "robust and in line with earlier expectations", with third quarter revenuesup 10% and profits showing a strong improvement. The Boeing strike had little third quarter impact, but couldshave up to 8% off fourth quarter revenue. For 2009, GKN expects civil aerospace demand to soften, but adecline of up to 10% would have only a small impact on profits. Defence markets should remain solid. In2007, 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 venturebetween 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 alsobeing 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

quarter on sales up 37.3% year-over-year to $587.8 million, with strong growth in both commercial andbusiness jet segments. However, B/E recently lowered its financial guidance for the remainder of this yearand 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 InternationalLease Finance parent company American International Group, has resigned from Boeing's board of directorsamid concerns that he would no longer qualify as an independent director under New York Stock Exchangestandards.

ROCKWELL COLLINS BUYS DISPLAYS PROVIDER SEOS

ACQUISITION Rockwell Collins is to acquire for an undisclosed sum SEOS, a supplier of visual displaysolutions for commercial and military simulators. SEOS will operate under the Rockwell Collins name as partof its simulation and training solutions operation. SEOS has 150 employees and is headquartered in WestSussex, UK.

OPTRONICS JOINT VENTURE GOES AHEAD OF NORWAY

FIGHTERS Saab and Simrad Optronics have formed a 51%-49% Norway-based joint venture, VingtechSaab, to develop high-tech optronics. The venture was to be dependant on Norway buying Saab Gripenfighters, 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 JohnMelia - 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.


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October 28, 2008

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 inthe third quarter, as net income dropped 38% compared with the same period a year ago. TheChicago-headquartered airframer will not provide an updated financial outlook until the ongoing strike by theInternational 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 certainwidebodies 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 backingfrom the state to launch serial production of the Superjet 100. In a joint application to the Russian legislatureand 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 billionbetween them for related work with the bulk of funds in the form of direct budget support andgovernment-backed commercial loans. Citing higher prices of key materials and other supplies, Sukhoi wantsthe 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 portalfor IAE V2500 customers. Operators of the engines powering Airbus A320s that are customers of leasingarm Rolls-Royce & Partners Finance will have access to the portal, which is designed to supply up-to-dateinformation about V2500 availability worldwide. R-R says the portal allows customers to reserve an enginefor 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 theyoffer next year. According to the Financial Times, Airbus will double the amount of vendor financing it offersto about ?2 billion ($2.62 billion) in 2009 to support commercial aircraft sales and maintain deliveries. Boeingsays it anticipates providing at least $1 billion in customer financing next year. However, the combined valuefalls well short of the $5 billion predicted by industry analysts and other observers that will be provided byairframers next year. There still will be a $20 billion funding gap next year, according to investment bank JPMorgan 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 past12 months and reduced its fleet by eight aircraft. In its third quarter results to 30 September, it booked ?4.13million in restructuring costs, which correspond to aircraft redelivery costs generated by a fleet-reductionprogramme and are non-recurrent. Third quarter operating profits improved before restructuring costs to?25.4 million while revenue grew to ?154.7 million.

LOAD-DATE: February 10, 2009

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October 14, 2008

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 paymentsfrom Airbus to cover its investment in the delayed A380 programme. The firm, which between 2001 and 2006spent ?100 million ($137 million) on A380 research and development but is only repaid on delivery of itsaircraft packages, has ?361 million net debt and saw first-half earnings before interest nearly halve to ?11.1million despite a 17.3% increase in revenue to ?297 million due in part to outlays for its bid to buy Airbusproduction sites at Meaulte and Saint-Nazaire, a project that collapsed earlier this year. Airbus had hoped tosell 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 structuresdivision. OAK president Alexei Fyodorov says: "We have a lot of expertise in the field of aluminium-lithiumalloys, but are lagging considerably behind major aircraft manufacturers as regards carbonfibre reinforcedplastics 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 Airwaysby 23 October after a planned privatisation failed to attract investors. Jat, which became a state-ownedjoint-stock company on 24 July, attracted interest from prospective investors including Aeroflot, but none bid

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 willonly get worse during the next 12 months, according to bankers active in the sector. One financier attendinglast week's European ISTAT conference in Prague told Flight's Commercial Aviation Online: "There is a lot ofmoney going out of the market and not a lot coming in. Out of the 25-30 aviation banks, maybe five areactive."

EUROPEAN FIRMS LOOK TO USA, ASIA FOR GROWTH

MANAGEMENT European aerospace and defence companies are today more focused on securing theirexisting client bases and winning new sales than developing new products, according to a survey ofmanagement at 40 firms by Roland Berger Strategy Consultants. And, given prominent defence acquisitionopportunities in countries like the USA and India, and the weakness of the dollar, more than one-third offirms identified Asia and North America as the most attractive regions for investment in both civil and militarymarkets, 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 navigationavionics systems for commercial and military applications, has been bought by a management team led byformer Elbit Systems of America chief executive Tim Taylor with the backing of Dallas private equity firm ElmCreek Partners.

CAPITAL BOOST FOR SIMULATOR MAKER

TRAINING Montreal, Canada-based simulator maker Mechtronix World has attracted a $39C million ($35.1million) capital injection by private equity company Richardson Capital. Richardson's chief executive DavidBrown joins the Mechtronix board.

LOAD-DATE: October 15, 2008

LANGUAGE: ENGLISH



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October 7, 2008

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 sharein Piaggio Aero, to become one of three primary shareholders alongside the Ferrari and Di Mase familiesand the Abu Dhabi government investment company, Mubadala Development. Tata's proposed investmentconsists of limited purchase of shares and an injection of new share capital, believed to amount to ?100million ($138 million), to enable Piaggio to expand production and offer its Pratt & Whitney CanadaPT6-66B-powered P180 Avanti II to new markets, including India. Piaggio chief executive Jos? Di Masedescribes Tata as "a highly ethical and selective investor", whose industrial expertise will benefit the aircraftand 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 wasplanning to restructure Avioane Craiova, which dates to 1972 and is active in civil and military aerospacemanufacturing and maintenance, and use the acquisition to strengthen its aerostructures business. Romaniaprivatisation agency AVAS says it has abandoned its attempt to sell an 81% stake in the manufacturer afterthe two sides failed to agree contractual terms within the allotted timeframe. The Czech firm still plans toparticipate in the tender for Romanian aerospace firm IAR Ghimbav. AVAS says a fresh Avioane Craiovaprivatisation 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-reductioninitiative 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 thefollowing year. Chief executive Egon Behle says that, while MTU's financial forecast is still on track, thescheme will "enduringly secure" the company's competitiveness and "cushion the impact of a slump, if itcomes". He adds that the programme will also help offset costs from research and development and newprojects.

CAPITAL START FOR NEW LESSOR

LEASING Start-up lessor Capital Lease Aviation made a ?1.11 million ($1.97 million) pre-tax profit on aircraftrental revenues of ?1.75 million in its first year of operation, to 30 June. Since September 2007 the companyhas acquired six aircraft - three Fokker 100s, one Airbus A320 and two Airbus A321-200s, valued at ?55.9million. 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/Thalesclosed 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

and the Society of British Aerospace Companies, are in co-operation discussions that could lead to amerger, the groups announced last week.


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September 30, 2008

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 turbopropsto 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 arecent media briefing in Manchester, Vanneste said: "Several studies show us that high-speed rail is lessefficient than air travel. There is no smoke coming out of electric trains, but the smoke is coming out of thepowerplants. High-speed rail, if you take everything into account, is much more polluting," he says. Withinthe aviation sector, he said, taxation needs to differentiate between turboprops and jets, with turbopropspaying "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 Controlson the Boeing 787. The follow-on contract with 787 contractor Saab Aerostructures means the NewJersey-based manufacturer will keep providing the large cargo door mechanical system. The deal alsoincludes a follow-on contract for Curtiss-Wright to supply structural fittings for the 787's large cargo door toSaab. Both deals could generate more than $200 million in revenue for Curtiss-Wright over the life of the 787programme.

FLIGHT SAFETY TECHNOLOGIES DELISTS FROM AMEX

TRADING Flight Safety Technologies has withdrawn an appeal to contest the decision of the American StockExchange to initiate delisting of its common stock and common stock purchase warrants from the Amexbecause of the failure of the company to maintain $4 million of shareholder equity and losses in three of itsfour last fiscal years. The company intends to transition its securities for trading to the Over-the-CounterBulletin Board.

FUEL COSTS DRIVE AERO INVENTORY OUTLOOK

RESULTS Aerospace industry e-based procurement and inventory management systems developer AeroInventory boosted pre-tax profits by 60% to $73.1 million on revenue up 78% to $440 million for its year to 30June. Chief executive Rupert Lewin says: "Airlines are now being forced to react to the impact of bothincreased fuel costs and recessionary pressures and this has resulted in more enquiries for new businessthan ever before."

ENGINE WASHING TURNS A PROFIT

RESULTS Engine cleaning technology provider Gas Turbine Efficiency posted a pre-tax profit of $400,000for the six months to 30 June, compared with an $800,000 loss last time, as revenue rose 58% to $14.7million. Aviation revenues included orders from Pratt & Whitney, whose on-wing wash service signedcontracts 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 ayear by 2020, and double its network to 100 destinations. The carrier detailed its expectations afterdisclosing that it carried 1.6 million passengers over the June-August summer season. Abu Dhabi-basedEtihad placed orders earlier this year for 45 Boeing and 55 Airbus aircraft. "Our projections to 2020 reflectthat order and the scale of our ambitions," says chief James Hogan. Etihad's network currently includes 48destinations and the airline expects to carry 6 million passengers this year.


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September 2, 2008

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 levelsfrom the same period last year while the Falcon business jets unit made solid headway. During a first halfmarked by the launch of the winglet-equipped Falcon 900LX, which replaces the 900EX, Falcon sales wereup 6.8% to ?1.1 billion ($1.6 billion), deliveries rose to 34 units from 29 last time, and orders held steady at87 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 sawnet profit fall 9.2% to ?167 million on sales down 14% at ?1.54 billion. The orderbook increased during thehalf 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 notaffected Panasonic Avionics' in-flight entertainment business, a top company official says. Strategic productmarketing director David Bruner says carriers "with a longer vision, and not as worried about the day-to-dayswing in oil prices" are looking at the current downturn as an opportunity to differentiate themselves from thecompetition: "They are rising forward and some of them that are strong are looking at this as an opportunityto 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 latersupply overseas services.

See Feature P36

STRUGGLING ZOOM GRINDS TO A HALT

AIRLINES Transatlantic operator Zoom Airlines has suspended operations after failing to secure arefinancing package. The carrier had planned to appoint an administrator and seek creditor protection afteroperations had been disrupted following the debt-related seizure last week of one of its Boeing 767s. Zoom'stwo divisions, based in Ottawa and at London Gatwick, operate 767s and 757s. Citing "the horrendousincrease in the price of aviation fuel and the economic climate" for Zoom's troubles, executive chairmanHugh Boyle says: "We have done everything we can to support the airline and left no stone unturned tosecure 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 remaining55% after two years. Brussels Airlines serves a number of European destinations and is well established inAfrica.The deal is subject to approval by Lufthansa's supervisory board, SN Airholding's board andshareholders, and regulators.

TURKISH AIRLINES DECLARES INTEREST IN AUSTRIAN

PRIVATISATION Turkish Airlines has joined Lufthansa on the list of declared interested bidders in AustrianAirlines Group's privatisation by submitting a letter of intent to state holding company OIAG. OIAG is selling

its 42.75% stake in the Austrian Airlines Group. Local media reports suggest that Russian carrier S7, AirFrance-KLM and Air China may also be interested in buying OIAG's Austrian stake.


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August 12, 2008

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 Laupheimcabin interiors plant to its preferred bidder, a partnership between Diehl and Thales. The deal, which issubject 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 toacquire the Airbus wing aerostructures facility at Filton and sourcing a major package of work on the A350XWB twinjet. That forecast came as the firm unveiled a half-year aerospace division trading profit of ?47million ($91.5 million), up by 24% on the first half of last year, while sales for the six-month period increasedby a similar proportion to ?467 million. GKN expects that finalising a deal with Airbus, which should becompleted 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-reducedloss 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 nineAvro 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 ?104.5million ($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 engineeringcompany 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 unlessthe terms set by Serbia's government take full account of its financial situation and the fuel-priceenvironment. The country's privatisation agency has invited expressions of interest in 51% of Jat afterreducing the minimum asking price to ?51 million ($79 million). Over the past year Aeroflot has declared itsinterest, but while final tender documents should be released by the end of August, Aeroflot says: "Thegovernment is stipulating such sale terms that we'll hardly participate in the bidding." Jat general directorSasa 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 totake full ownership of radar, systems engineering and integration and logistics management company RLMHoldings. The acquisition by Lockheed Martin, which follows completion in June of the sale of Tenix'sdefence business to BAE Systems Australia, is subject to approval by Australia's Foreign Investment ReviewBoard. The Adelaide-based company employs more than 250 people and is primarily involved in the ongoingmaintenance, support and enhancement of Australia's wide-area surveillance over-the-horizon JindaleeOperational Radar Network. Meanwhile, Tenix is evaluating the sale of repair and overhaul operation TenixAviation following a number of unsolicited enquiries.


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August 12, 2008


BYLINE: Dan Thisdell

SECTION: BUSINESS

LENGTH: 617 words


PARA::AIRBUS SEALS LAUPHEIM SALE, 'CLOSE' TO FILTON

PARA::RESTRUCTURING Airbus has finalised the sale of its £240 million ($373 million) annual turnoverLaupheim 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 restcompartments, complete cabin linings and overhead bins. Separately, GKN says it is close to concluding anagreement to acquire the Airbus wing aerostructures facility at Filton and sourcing a major package of workon the A350 XWB twinjet. That forecast came as the firm unveiled a half-year aerospace division tradingprofit of £47 million ($91.5 million), up by 24% on the first half of last year, while sales for the six-monthperiod increased by a similar proportion to £467 million. GKN expects that finalising a deal with Airbus, whichshould 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 amuch-reduced loss of £2 million ($4 million) for the first half of this year, compared with its 2007 interimdeficit of £65 million, but the company admits it does not foresee the activity becoming profitable in the nearterm. BAE's regional aircraft division secured new leases or extensions for 32 aircraft over the six-monthperiod, 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 by88% to £351 million over the six months to 30 June, reflecting in part its acquisition last year of USengineering company K&F Industries. Meggitt derived about 25% of its first-half revenues from the civil largejet 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 Airwaysunless the terms set by Serbia's government take full account of its financial situation and the fuel-priceenvironment. The country's privatisation agency has invited expressions of interest in 51% of Jat afterreducing the minimum asking price to £51 million ($79 million). Over the past year Aeroflot has declared itsinterest, but while final tender documents should be released by the end of August, Aeroflot says: "Thegovernment is stipulating such sale terms that we'll hardly participate in the bidding." Jat general directorSasa 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

Tenix to take full ownership of radar, systems engineering and integration and logistics managementcompany RLM Holdings. The acquisition by Lockheed Martin, which follows completion in June of the sale ofTenix's defence business to BAE Systems Australia, is subject to approval by Australia's Foreign InvestmentReview Board. The Adelaide-based company employs more than 250 people and is primarily involved in theongoing maintenance, support and enhancement of Australia's wide-area surveillance over-the-horizonJindalee Operational Radar Network. Meanwhile, Tenix is evaluating the sale of repair and overhauloperation Tenix Aviation following a number of unsolicited enquiries.

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August 5, 2008

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 theimpact of the weak dollar on its business. When the existing Power8 plan expires in 2010, it will be replacedby a new group-wide "Power8 Plus" programme, which is expected to deliver a saving of ?1 billion ($1.6billion) in the period 2011-12. Details of the programme will be presented to EADS's European works councilin the autumn. "Power8 Plus targets a more internationalised cost base, compared with a current onedominated 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.

REDUCED COMMUNICATIONS BOOST SAFRAN

DIVESTMENT French conglomerate Safran, formed in a 2004 merger of aerospace group Snecma andcommunications 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 fromoperations of ?474 million, and a first-half profit from recurring operations (excluding capital gains) of ?328million. The latter compares with ?311 million for the first half of 2007, though the 2007 figure rises to ?381million if communications are excluded. In January, Safran completed the sale of Sagem Communications toUS private-equity firm The Gores Group for an enterprise value of ?383 million. Furthering its strategic shiftout of communications, it last week agreed to sell its mobile phone business, Sagem Mobiles, to Frenchventure 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 ITservices to what BAE terms the national security and resilience (NS&R) sector. At 440p per share, the offervalues Detica at ?538 million ($1.1 billion). Headquartered at Guildford, UK, Detica counts the Ministry ofDefence among its customers. The NS&R sector it serves will double in value to more than ?3 billion by2011, predicts BAE.

EMBRAER TO BOOST PORTUGUESE PRESENCE

MANUFACTURING Embraer is to invest in two new manufacturing centres in the southern Portuguese city ofEvora. One will focus on metallic assemblies and will require investment of ?100 million ($157 million) oversix years. The other, a composites manufacturing facility, will be funded to the tune of ?48 million. Bothfacilities 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 indebtor-in-possession (DIP) financing to Frontier Airlines, which filed for Chapter 11 bankruptcy protection inApril. Under an equity sponsorship arrangement, Perseus has an option to purchase 79.9% of the equity inthe reorganised company for $100 million.

B/E ABSORBS HONEYWELL CONSUMABLES UNIT

ACQUISITION B/E Aerospace has completed the acquisition of Honeywell's consumable solutionsdistribution business. The combined businesses are expected to generate more than 50% of B/EAerospace's operating earnings in 2009.


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August 5, 2008


BYLINE: Niall O'Keeffe

SECTION: BUSINESS

LENGTH: 552 words


PARA::EADS TO EXTEND POWER8 PROGRAMME

PARA::RESTRUCTURING Airbus owner EADS is to extend its cost-cutting programme in a bid to diminishthe impact of the weak dollar on its business. When the existing Power8 plan expires in 2010, it will bereplaced 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 workscouncil in the autumn. "Power8 Plus targets a more internationalised cost base, compared with a current onedominated by the euro," says EADS, adding that Power8 was "over-performing" and had achieved EBITcontribution 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 Snecmaand 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 fromoperations of £474 million, and a first-half profit from recurring operations (excluding capital gains) of £328million. The latter compares with £311 million for the first half of 2007, though the 2007 figure rises to £381million if communications are excluded. In January, Safran completed the sale of Sagem Communications toUS private-equity firm The Gores Group for an enterprise value of £383 million. Furthering its strategic shiftout of communications, it last week agreed to sell its mobile phone business, Sagem Mobiles, to Frenchventure 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 ofIT services to what BAE terms the national security and resilience (NS&R) sector. At 440p per share, theoffer values Detica at £538 million ($1.1 billion). Headquartered at Guildford, UK, Detica counts the Ministryof Defence among its customers. The NS&R sector it serves will double in value to more than £3 billion by2011, predicts BAE.

PARA::EMBRAER TO BOOST PORTUGUESE PRESENCE

PARA::MANUFACTURING Embraer is to invest in two new manufacturing centres in the southernPortuguese 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 £48million. Both facilities will be highly automated, in keeping with the Brazilian airframer's lean manufacturing

philosophy.

PARA::TROUBLED FRONTIER LANDS DIP FINANCING

PARA::CHAPTER 11 Private-equity firm Perseus, of Washington DC, has agreed to provide $75 million indebtor-in-possession (DIP) financing to Frontier Airlines, which filed for Chapter 11 bankruptcy protection inApril. Under an equity sponsorship arrangement, Perseus has an option to purchase 79.9% of the equity inthe 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 solutionsdistribution business. The combined businesses are expected to generate more than 50% of B/EAerospace's operating earnings in 2009.

PARA::

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July 29, 2008

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

?272 million ($543 million) as increased deliveries of Airbus A320 engines and aftermarket sales boostedsales 5% to ?2.1 billion. In defence aerospace, sales dropped 5% to ?769 million and profits dipped slightlyto ?104 million, although demand was strong in the USA, which accounts for 45% of segment sales. R-Rsays civil aviation will "not be immune" to the effects of high oil prices, constraints on financing and theeconomic downturn, but it predicts full-year profitable growth on the back of a "resilient" widebody andcorporate market, adding that the "relative youth and fuel efficiency" of the aircraft to which its engines arefitted 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 tocontinue 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 crackdetection technology but has been hit by the current state of financial markets and the Australiangovernment's decision to scrap the Commercial Ready grant programme. The company is in talks withpotential investors.

UK, FRENCH AEROSPACE CLUSTERS JOIN FORCES

INDUSTRY An Anglo-French tie-up between the Farnborough Aerospace Consortium and theToulouse-based Aerospace Valley innovation cluster hopes to boost their regions' supply chain, technologyand skills development. FAC chairman Sir Donald Spiers and Aerospace Valley president Jean-MarcThomas have agreed to form a joint steering board guide and implement collaborative programmes toimprove 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 sawits backlog rise 86% to $18.8 billion. Chief executive Nicholas Chabraja says: "Growth in the aerospacebacklog is a reflection of continued demand for the entire existing product line and extremely strong demandfor 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 equityinvestor Stirling Square Capital Partners has bought Italian flight actuation systems maker Microtecnica fromHamilton Sundstrand for an undisclosed sum. Microtecnica employs 686 people at three sites in northernItaly 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 isparticipating in another Romanian privatisation. The Czech company has bid for a controlling stake inhelicopter manufacturer IAR Ghimbav, ahead of a bid deadline of 15 September. It is also seeking a stake inhelicopter manufacturer PZL-Swidnik, in which the Polish state owns a controlling interest andAgustaWestland a stake of 6%.


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July 29, 2008


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-halfprofit to £272 million ($543 million) as increased deliveries of Airbus A320 engines and aftermarket salesboosted sales 5% to £2.1 billion. In defence aerospace, sales dropped 5% to £769 million and profits dippedslightly 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 theeconomic downturn, but it predicts full-year profitable growth on the back of a "resilient" widebody andcorporate market, adding that the "relative youth and fuel efficiency" of the aircraft to which its engines arefitted 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 tocontinue 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 crackdetection technology but has been hit by the current state of financial markets and the Australiangovernment's decision to scrap the Commercial Ready grant programme. The company is in talks withpotential investors.

PARA::UK, FRENCH AEROSPACE CLUSTERS JOIN FORCES

PARA::INDUSTRY An Anglo-French tie-up between the Farnborough Aerospace Consortium and theToulouse-based Aerospace Valley innovation cluster hopes to boost their regions' supply chain, technologyand skills development. FAC chairman Sir Donald Spiers and Aerospace Valley president Jean-MarcThomas have agreed to form a joint steering board guide and implement collaborative programmes toimprove industrial and academic competitiveness.

PARA::GENERAL DYNAMICS RIDES GULFSTREAM

PARA::RESULTS General Dynamics' aerospace business ramped up second quarter operating profit by afifth to $240 million on sales up 10% to nearly $1.34 billion year-on-year, the maker of Gulfstream businessjets saw its backlog rise 86% to $18.8 billion. Chief executive Nicholas Chabraja says: "Growth in theaerospace 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 66last time.

PARA::HAMILTON SUNDSTRAND SELLS ACTUATORS UNIT ACQUISITION London-based private equityinvestor Stirling Square Capital Partners has bought Italian flight actuation systems maker Microtecnica fromHamilton Sundstrand for an undisclosed sum. Microtecnica employs 686 people at three sites in northernItaly 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 Vodochodyis participating in another Romanian privatisation. The Czech company has bid for a controlling stake inhelicopter manufacturer IAR Ghimbav, ahead of a bid deadline of 15 September. It is also seeking a stake inhelicopter manufacturer PZL-Swidnik, in which the Polish state owns a controlling interest andAgustaWestland a stake of 6%.

PARA::

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June 24, 2008

INTRODUCTION:

SECTION: BUSINESS

LENGTH: 563 words

BUSINESS briefs

GOODRICH WINS $600M C-5 RE-ENGINING CONTRACTS

AIRLIFTERS Goodrich has won contracts worth $600 million, excluding aftermarket revenue, from LockheedMartin and General Electric Aircraft Engines to supply pylons and nacelle systems for the US Air Force C-5Galaxy strategic airlifter Reliability Enhancement and Re-engining Program (RERP). The Lockheed Martincontract calls for Goodrich to supply 36 pylons for nine aircraft in the RERP, while under the GEAE contract itis to supply 196 nacelle systems to house the GE CF6-80C2 engines that will power all 49 C-5Ms in theRERP. Work will be performed by Goodrich's Aerostructures teams in California and Alabama. EachLockheed Martin C-5M transport aircraft will be powered by four CF6-80C2 engines. The US Air Force plansto 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. Inwinning ?10 billion ($19 billion) in new business, the UK also led the world in exports with a 33% share of theglobal 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 billioneach). The UKTI DSO says 2007 world figures followed a trend of gradual increases attributable tooperations in Afghanistan and Iraq greater spending on homeland security the increase in unit cost ofequipment and services the improvement in Russia's export performance and higher spending in the MiddleEast.

'NO WAY BACK' FOR COLLAPSED SILVERJET

AIRLINES UK all-business carrier Silverjet's management team has abandoned attempts to resurrect thecollapsed airline after a last-ditch funding agreement fell through. Silverjet went into administration afterbeing forced to suspend flights on 30 May. A proposed rescue, through a Swiss trust, failed on 13 June andthe staff of the London Luton-based carrier were made redundant. Silverjet had been operating Boeing 767sto New York Newark and Dubai.

EXCHANGE RATES DULL ZODIAC'S TURNOVER

RESULTS Revenue growth at French aerospace equipment specialist Zodiac was undermined in the ninemonths 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 ratemovements.

FACTORY MOVE CONTINUES TO UPSET AEROSONIC

REVENUES Florida cockpit displays and sensors maker Aerosonic lost $236,000 in its first quarter ended 2May, compared with a $62,000 profit in the corresponding period last year, on revenue down 2.5% to $6.65million, as the cost of moving production from a Virginia plant to its Clearwater, Florida location continued totake 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 calledOEM Defence Services to provide European armed forces with through-life support solutions for theiraerospace equipment. Diehl avionics feature on aircraft including the Eurocopter NH90 and Tiger,Eurofighter, Tornado and A400M.


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June 10, 2008

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 itsplant at Laupheim in Germany, which specialises in cabin interiors. The Laupheim site is the seventh facilityto feature in Airbus's divestment plans under its Power8 restructuring strategy, alongside three other Germanplants, two in France and one in the UK. Diehl and Thales's partnership had been one of two shortlistedbidders for the site, alongside French firm Zodiac. Airbus has so far been unable to conclude the divestmentprocess for its other plants in Germany and France, but talks are continuing on the sale of part of it UKfacility at Filton to GKN.

BOMBARDIER AEROSPACE POSTS BRIGHT QUARTER

AIRFRAMERS Bombardier Aerospace is heralding a strong first quarter performance after nearly doubling itsEBIT to $206 million revenue was up 4% to $2.4 billion for the three months ended 30 April. Bombardierdelivered 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 received118 net orders - 60 business and 58 commercial aircraft - compared with 174 last time. Its order backlogstood 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 inits year to 31 March thanks to rising demand for carbon composite structures and better than expectedperformance 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' profitrose 50% to nearly ?10 million on revenue up 26% to nearly ?46 million. With acquisitions of OdysseyIndustries and Global Tooling Systems, expected to close on 9 June, more than half of future revenue will belinked to aerospace use carbon composites.

FRESH HOPES FOR ALITALIA SALE PROGRESS

PRIVATISATION Prospects of progress in Italy's long-running effort to privatise its ailing flag carrier wereraised last week with the suspension of trading in Alitalia shares on the Milan stock exchange. The Italiangovernment last month approved a new decree easing guidelines covering the privatisation, and appointedItalian 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 supplycarbonfibre 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 forconsideration 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 itseeks 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 Chaltieland Pierre-Eric Pommellet, respectively. Thales has also brought together supply chain, purchasing,programme management and quality and continuous improvement initiatives under operations director AlainPaul.


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April 8, 2008

INTRODUCTION:

SECTION: BUSINESS

LENGTH: 553 words

Business briefs

Russia's OAK proposes new aerospace centre

EXPANSION OAK, the holding company for much of Russia's consolidated aircraft industry, hopes to set upa 150ha (370-acre) design and manufacturing site in north-east Moscow's Khodinskoye Polye district. Ifapproved, the site would be an adjunct to existing facilities, according to sources quoted in the Russianpress. The proposal is an apparent reversal of an earlier decision announced by President Putin this year tobase OAK at the Zhukovsky airfield in Moscow region, home of the Gromov LII flight test centre. The mainexperimental divisions of the aircraft industry will remain at Zhukovsky. Two aviation universities, based onthe exising Moscow Aviation Institute and Moscow Physics and Technology Institute, will also be included onthe site.

union welcomes Boeing's 787 supply move

OUTSOURCING A major Boeing union has hailed the airframer's decision to reclaim a formerly outsourcedrole 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 theCharleston, South Carolina-based Global Aeronautica joint venture with Alenia Aeronautica a "necessary firststep" to restoring the health of the 787 programme. SPEEA and Boeing will begin talks on a new contract inOctober. 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 onrevenue up 56% to nearly $28 million. Chief executive Edward Fred attributed the improvement to efforts toincrease subcontracting and commercial business and expects 2008 revenue to reach $35 million. CPIrecently won a multi-year contract, with an initial order of $3.5 million to provide Gulfstream G650 structuralassemblies to Spirit AeroSystems.

Filter specialist boosts aviation prospects

acquisition Liquid filtration specialist Porvair hopes to boost its aviation business with new south of Englandmanufacturing 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'sMicrofiltrex subsidiary, says chief executive Ben Stocks. Porvair supplies fuel and hydraulic fluid filters formost commercial airframes. In its year to the end of November, Porvair made a pre-tax profit of ?3.6 millionon 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, foran 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 newmanufacturing operation, Camcar Aerospace, in Rockford, Illinois.

Park acquires Nova Composites

purchase Park Aerospace Structures has purchased Lynwood, Washington-based Nova Composites, forabout $4.5 million, plus up to $5.5 million over the next five years, depending on performance. Nova, whichwas marginally profitable on $2 million revenue in 2007, will trade as Park Aerospace Structures.


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50 of 62 DOCUMENTS


April 8, 2008


SECTION: BUSINESS

LENGTH: 568 words


PARA::Russia's OAK proposes new aerospace centre

PARA::EXPANSION OAK, the holding company for much of Russia's consolidated aircraft industry, hopes toset 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 Russianpress. The proposal is an apparent reversal of an earlier decision announced by President Putin this year tobase OAK at the Zhukovsky airfield in Moscow region, home of the Gromov LII flight test centre. The mainexperimental divisions of the aircraft industry will remain at Zhukovsky. Two aviation universities, based onthe exising Moscow Aviation Institute and Moscow Physics and Technology Institute, will also be included onthe site.

PARA::union welcomes Boeing's 787 supply move

PARA::OUTSOURCING A major Boeing union has hailed the airframer's decision to reclaim a formerlyoutsourced role within the 787 production system. The Society of Professional Engineering Employees inAerospace (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 anew 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 in2007 on revenue up 56% to nearly $28 million. Chief executive Edward Fred attributed the improvement toefforts 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 G650structural assemblies to Spirit AeroSystems.

PARA::Filter specialist boosts aviation prospects

PARA::acquisition Liquid filtration specialist Porvair hopes to boost its aviation business with new south ofEngland 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 forPorvair's Microfiltrex subsidiary, says chief executive Ben Stocks. Porvair supplies fuel and hydraulic fluidfilters 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 hasbought, for an undisclosed sum, high-performance aerospace threaded fastener maker Saturn Fasteners ofBurbank, California. In March, Acument re-entered the threaded aerospace fastener market by opening anew 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.

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March 4, 2008

INTRODUCTION:

SECTION: BUSINESS

LENGTH: 556 words

Business briefs

ILFC mulls options as Debt market hits parent

leasing The world's largest aircraft lessor, International Lease Finance, is considering some form ofseparation from its parent, American International Group, after the insurer increased its loss estimates frominsuring financial instruments to $5 billion from $1 billion. Standard & Poor's recently revised its rating outlookon ILFC to negative from stable and Fitch Ratings placed it on rating watch negative. S&P says ILFC'soutlook change does not reflect credit problems at the lessor itself. ILFC chief executive Steven Udvar-Hazytold Flight sister publication Commercial Aviation Online that options include purchasing aircraft portfoliosand/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, aswell as conclude agreements for "significant work content" on the airframer's upcoming A350XWB. Chiefexecutive Sir Kevin Smith said the Filton acquisition - which comes as part of Airbus parent EADS's "Power8" restructuring plan - would significantly strengthen the engineering company's aerospace business, whichaccounts 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$270.5million ($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 SASComponent Group. Maintenance sales were comparable to 2006 despite the closing of loss-making UKoperation 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 Airlinesunless the combined carrier was called Delta and headquartered in Atlanta. Chief executive RichardAnderson and president and chief financial officer Ed Bastian said the Atlanta-based carrier has yet to "arriveat 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 ?1.38billion ($2.05 billion), on a 13% rise in revenues to ?22.4 billion. Net profit for the company doubled to ?1.66billion. 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 HeavyMaintenance, 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 thisyear - well above its $440 million 2007 profit. The airline earlier forecast a first-quarter loss, following a $79million loss in the fourth quarter of 2007, and is introducing a $25 charge for second checked bags.


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February 26, 2008

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 compositesmanufacturing capabilities. The company says it is leasing a 8,900m2 (90,000ft2) facility at the formerMcClellan Air Force Base in Sacramento, California, which will support expansion through additionalequipment and capacity. AAR will occupy the portion of the facility formerly used by the US Air Force formanufacturing composite replacement aircraft parts. Last December, AAR acquired Huntsville,Alabama-based Summa Technology to strengthen its position in the parts manufacturing approval market, inwhich 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 increasedshipments and stronger value-added pricing for heat treat plate sales were up 5% to 547.8 million. "Wecontinue to capitalise on strong demand for aerospace and defence-related products," says chief executiveJack Hockema.

Rockwell Collins to expand in India

AVIONICS Rockwell Collins is to open an engineering centre in Hyderabad, India in October dedicated tohardware and software development, with initial work focused on the design of displays andflight-management systems. About 500 people will be hired over the next five years. Existing links in similar

technologies with HCL Technologies in Chennai and Bangalore will continue. Senior vice-president NanMattai says: "Our new facility in India will enhance our presence in this emerging region and provide us withincreased 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 toenable it to meet Indian requirements for offset, technology transfer and local industry workshare. Bharatwas 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 thesix months to 31 December on revenue of $12.9 million, including a $30.2 million non-cash debt conversionexpense. The company, which is competing for contracts under NASA's Commercial Orbital TransportationServices programme, says its Astrotech Space Operations and Engineering Services subsidiaries tradeprofitably. In January it created three new subsidiaries "to advance heritage capabilities to capture newlyidentified 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'sPusan National University. The new UTC in Thermal Management will focus initially on developinghigh-efficiency lightweight heat exchangers. R-R describes this area of research as important in maintainingcompetitiveness across all of its aerospace, marine and energy markets.


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February 19, 2008

SECTION: BUSINESS

LENGTH: 527 words

Business briefs

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 thatits sales outlook may decline in 2008 because of 787 schedule delays. In 2007, Spirit's full-year revenuesjumped 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 revenueforecast for this year and the company says it is also evaluating alternatives for securing additional financingto 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 specialistPrecision 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 andprovide 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 thisyear, according to the UK-based Inflight Management Development Centre. Spending on portable in-flightentertainment was just $75 million in 2007 but IMDC expects double-digit growth for the next two to threeyears.

Diversification boosts CAE

results Simulation, modelling and training specialist CAE saw a 40% year-on-year rise in third-quarter pre-taxprofits to $61C.7 million ($62.1 million) on sales up 4% to $344C.8 million. Operating income rose in bothmilitary and civil segments. Chief executive Robert Brown said the results highlighted successful sector andregional diversification: "Approximately 60% of our revenues are now being generated outside NorthAmerica."

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 byoffering a discount to passengers who have no check-in luggage. Jetstar chief executive Alan Joyce expectslow-cost rivals to follow suit, and says: "This is probably the most competitive of any aviation market in theworld."

Pilatus Ace takes key Grob role

Business Aviation Ulrich Gehling (pictured) has joined Grob Aerospace as joint managing director alongsideAndreas Strohmayer and replacing Heinz Micheler, who has been put in charge of Grob's development ofthe composite structure for Bombardier's Learjet 85. Gehling joins from Pilatus, where he headed the PC21programme and, most recently, Next Generation PC12 development.

Russian Technologies in assets dispute

consolidation Government-controlled industrial conglomerate Russian Technologies has laid claim to stateaviation assets sought by private shareholders of the five airlines set to be amalgamated into the AirUnionalliance. Russian Technologies is believed to have a mandate to play a leading role in high-technologyindustries and act for the public interest in selected key economic sectors.


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February 19, 2008

PARA::

SECTION: BUSINESS

LENGTH: 545 words


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, butwarned that its sales outlook may decline in 2008 because of 787 schedule delays. In 2007, Spirit's full-yearrevenues jumped 20% from $3.2 billion to $3.8 billion, while net income grew from $17 million to $297million. However, a reduction in 787 shipset deliveries in 2008 may leave Spirit short of its $4.7 billionrevenue forecast for this year and the company says it is also evaluating alternatives for securing additionalfinancing to meet potential liquidity needs. The Kansas-based structural producer was spun off by Boeing in2005.

PARA::Raytheon in india Defence Communications Link

PARA::Military electronics Raytheon and Indian civil and military communications design and productionspecialist Precision Electronics are to team up to develop and provide communications technology for India'smilitary. A memorandum of understanding calls for the companies to pursue emerging business opportunitiesand 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 communicationtechnologies this year, according to the UK-based Inflight Management Development Centre. Spending onportable in-flight entertainment was just $75 million in 2007 but IMDC expects double-digit growth for thenext 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-quarterpre-tax profits to $61C.7 million ($62.1 million) on sales up 4% to $344C.8 million. Operating income rose inboth 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 NorthAmerica."

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 itscompetitors by offering a discount to passengers who have no check-in luggage. Jetstar chief executive AlanJoyce expects low-cost rivals to follow suit, and says: "This is probably the most competitive of any aviationmarket in the world."

PARA::Pilatus Ace takes key Grob role

PARA::Business Aviation Ulrich Gehling (pictured) has joined Grob Aerospace as joint managing directoralongside Andreas Strohmayer and replacing Heinz Micheler, who has been put in charge of Grob'sdevelopment of the composite structure for Bombardier's Learjet 85. Gehling joins from Pilatus, where heheaded 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 tostate aviation assets sought by private shareholders of the five airlines set to be amalgamated into theAirUnion alliance. Russian Technologies is believed to have a mandate to play a leading role inhigh-technology industries and act for the public interest in selected key economic sectors.

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January 22, 2008

SECTION: BUSINESS

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, Germanymanufacturing facility, having made preliminary decisions last month on divesting six other plants to threecompanies as part of its Power8 restructuring. The Laupheim plant specialises in the production of aircraftcabin interiors. Three companies - Latecoere, MT Aerospace and GKN - have been selected as partners forsix plants in France, Germany and the UK: Meaulte, St Nazaire Ville, Nordenham, Varel, Augsburg andFilton. Airbus's executive vice-president of programmes, Tom Williams, says the company was keen toprioritise 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 Januaryoffer deadline. Under the restructured deal, Icelandic banks Landesbanki and Eyrir - part of LME - joined theLondon Acquisition consortium, while LME's other member, Marel Food Systems, is to buy Stork's foodsystems division immediately after the takeover is closed. Fokker Services parent Stork operates in theaerostructures manufacturing and aircraft servicing sectors, as well as industrial technical services, foodsystems and print sectors.

Cobham expands US security business

ACQUISITION Cobham is to acquire US intelligence and missile defence company Sparta for $416 millioncash. After the acquisition, expected to be completed during the second quarter of 2008, Sparta will becomea separate strategic business unit of Cobham's North America division. Cobham chief executive Allan Cooksays: "This is a major step forward in the implementation of Cobham's technology strategy and the creationof 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 boostfull-year group revenues in its continuing businesses 7% to ?10.8 billion ($16 billion) in 2007. Its aerospacepropulsion revenues grew nearly 17%, representing half of the group's overall sales at ?5.9 billion, whiledeliveries of new engines for both commercial aircraft and for helicopters grew more than 20% comparedwith 2006. Meanwhile, Safran completed the ?383 million sale of its non-core Sagem Communicationsbusiness to The Gores Group, which becomes majority shareholder Safran retains 10% and Sagememployees hold 20%. Safran's space and defence specialist, Snecma Propulsion Solide, has created a newcomposite materials division.

Sukhoi investment gets Putin's blessing

SUPERJET Russian president Vladimir Putin has signed a decree permitting a previously agreed sale of25% plus one share of Sukhoi Civil Aircraft to Alenia Aeronautica of Italy. Putin, whose approval wasrequired by Russian law, specified that citizens of foreign countries shall not occupy more than a quarter ofSukhoi Civil control board seats, and that the company be headed by a Russian citizen, but foreign investorsare being courted to raise funds for Sukhoi's $1 billion Superjet regional jet project.


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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 operatingunder one common organisational structure and team, and will shortly unveil a rejuvenated look for StandardAero, which will become the single brand of the merged entity. Integration of the two firms under DubaiAerospace Enterprise's technical subsidiary DAE Engineering began immediately after the Middle Easterngroup's 31 July acquisition of engine maintenance specialist Standard Aero and business aviationmaintenance 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 andEmbraer aircraft. AMT will be rebranded as GA Telesis Component Repair Group Southwest. Co-founderMicah Chapman will remain as head of the company. GA Telesis businesses include engine and aircraftleasing 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 with19 companies, it aims to remove duplication, minimise waste and increase co-ordination. SBAC chiefexecutive Ian Godden says: "SC21 is a landmark change that will allow participating firms to cut down on thenumber and bureaucracy of supply chain audits."

Nordcapital establishes aviation arm

aircraft Funds Hamburg-based finance company Nordcapital has established an aviation arm, to be headedby managing director Peter Huijbers, who was previously responsible for the aircraft trading and leasingmarket segment at Lufthansa Technik. Chief executive Reiner Seelheim says Nordcapital Aviation plans tocreate its first aircraft fund in the second half of 2008, adding: "The aviation industry has tremendous growthpotential 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 dealwith GE for repair of GE CF34 engines and a separate 10-year materials agreement with CFM Internationalcovering repair and overhaul of CFM56s. Both deals are valued at $2.5 million. Last year Air Canada parentACE Aviation Holdings sold a 70% stake in ACTS to two private equity firms ACE retains a 23% interest inACTS. 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 Jazzaffiliate and the Aeroplan frequent-flyer programme. In a December equity research paper, TD Securitiesanalyst Brian Morrison predicted that the next steps in the process would include potential secondaryofferings of Jazz and Aeroplan, another substantial issuer bid, and "lastly the potential event that ACE bringsAir Canada back in-house, effectively transforming the holding company into the airline".


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October 9, 2007

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 beenrebuffed in a ?1 billion ($1.42 billion) offer for Volvo Aero. Spokesman Eckhard Zanger told FlightInternational 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 ?2.4billion Volvo Aero made ?37.6 million on sales of ?870 million, or 3% of the Volvo Group total, which isdominated by trucks and buses.

STANDARD AERO BUYS CINCINNATI REPAIR SHOP

MAINTENANCE Engine maintenance firm Standard Aero has bought Cincinnati, Ohio-based turbine enginecomponent repair facility TSS Aviation for $65 million. TSS, which was established in 1948 and employs 225people, is a full-service component overhaul facility, providing mid- to large aerospace and industrial gasturbine engine repairs for OEMs and airlines. Standard Aero was acquired from private equity companyCarlyle Group by Dubai Aerospace Enterprise in August, in a $1.9 billion deal that also included LandmarkAviation 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 Aerocomponent repair, it also brings significant new technology and capability to the DAE repair portfolio. Wegain extensive new capabilities, along with exceptional quality and an on-time delivery record, all of whichmake 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 AirportServices to Teinver. The latter will hold 100% of the company after the transaction, which will have a SKr 400million ($62.1 million) positive net effect on cash and debt. Newco is Spain's second-largest handlingcompany, 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 besupported by its new "cashless cabin" service being offered in partnership with subsidiary LiveTV. From 1November the low-cost carrier will accept major credit or debit cards for in-flight purchases using handhelddevices, and will no longer accept cash on board. LiveTV's secure technology will provide "a quick andhassle-free way to purchase alcoholic beverages and future in-flight offerings on board", says JetBlue. Apartfrom alcoholic drinks, the exact in-flight offerings being considered have not been revealed, but the carrier'sstandard 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 inthe fourth quarter of this year. Goodrich has more than 1,200 employees at an 88,250m2 (950,000ft2) facilityin Everett, Washington. Services include airframe heavy maintenance, aircraft modifications and painting,passenger-to-freighter conversions, engineering and certification, and component repair and overhaul.


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October 9, 2007

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 hasbeen rebuffed in a £1 billion ($1.42 billion) offer for Volvo Aero. Spokesman Eckhard Zanger told FlightInternational that MTU remains on the lookout for opportunities to expand its business through organicgrowth or by acquisition. In 2006 MTU made a gross or operating profit of £352.7 million on sales of £2.4billion Volvo Aero made £37.6 million on sales of £870 million, or 3% of the Volvo Group total, which isdominated by trucks and buses.

PARA::STANDARD AERO BUYS CINCINNATI REPAIR SHOP

PARA::MAINTENANCE Engine maintenance firm Standard Aero has bought Cincinnati, Ohio-based turbineengine component repair facility TSS Aviation for $65 million. TSS, which was established in 1948 andemploys 225 people, is a full-service component overhaul facility, providing mid- to large aerospace andindustrial gas turbine engine repairs for OEMs and airlines. Standard Aero was acquired from private equitycompany Carlyle Group by Dubai Aerospace Enterprise in August, in a $1.9 billion deal that also includedLandmark Aviation the firms are being merged under the Middle Eastern group's technical subsidiary DAEEngineering. Standard Aero chief executive Paul Soubry says: "Not only does TSS Aviation increase theStandard Aero component repair, it also brings significant new technology and capability to the DAE repairportfolio. 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 NewcoAirport Services to Teinver. The latter will hold 100% of the company after the transaction, which will have aSKr 400 million ($62.1 million) positive net effect on cash and debt. Newco is Spain's second-largesthandling company, expected to handle 127,000 flights in 2007 at 26 Spanish airports for more than 40airlines, 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 besupported by its new "cashless cabin" service being offered in partnership with subsidiary LiveTV. From 1November the low-cost carrier will accept major credit or debit cards for in-flight purchases using handhelddevices, and will no longer accept cash on board. LiveTV's secure technology will provide "a quick andhassle-free way to purchase alcoholic beverages and future in-flight offerings on board", says JetBlue. Apartfrom 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.

PARA::GOODRICH TO SELL maintenance unit

PARA::AIRFRAME REPAIR Australia's Macquarie Bank is to buy Goodrich's airframe heavy maintenancebusiness, Goodrich Aviation Technical Services, for an undisclosed sum. Goodrich says it expects the saleto 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, aircraftmodifications and painting, passenger-to-freighter conversions, engineering and certification, and componentrepair and overhaul.

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59 of 62 DOCUMENTS


September 25, 2007

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 theworld's largest testbeds in the UK at Derby in a ?100 million ($200 million) investment. R-R says 58 Bed is itsquietest and largest test facility and, together with the adjoining "twin" 57 Bed, "forms the most advancedindoor jet engine centre in the world", replacing an outdoor facility at Hucknall, Nottinghamshire, which willclose around the end of the 2007. The 33,000m2 (355,200ft2) factory will employ around 800 workers tomake 170 different components for 23 engine types in service with more than 2,000 customers.

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 toexpand its access to US military programmes, including the Lockheed Martin F-35 Joint Strike Fighter. SteveLoranger, chairman, president and chief executive of ITT, says: "This combination is all about growth anddemonstrates our disciplined approach to creating value for our shareholders by expanding from our strongcore businesses and entering attractive adjacent markets." The transaction is expected to be concluded inearly 2008.

Teamsters Blitz for United mechanics

UNIONS The International Brotherhood of Teamsters is looking to wrest representation of United Airlinesmechanics from a rival union. The workers lost their jobs when United closed a heavy maintenance hub fouryears ago, says Teamsters. The Teamsters union maintains the current union representing the majority ofUnited mechanics, Aircraft Mechanics Fraternal Association (AMFA), has allowed United to outsourcemechanics jobs to non-union workers and not protected them with contracts. AMFA representatives wereunavailable for comment. If it succeeds, the Teamsters union promises to negotiate a contract with Unitedthat 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 commercialaviation 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 otherhigh-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 duringthe six months to 28 July as factory consolidation costs hit net income while Lockheed Martin F-35 JointStrike 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 asubstantial impact on our current financial performance, [but] it will result in a structure that will help provideresources to improve earnings and fund research and development. By adding new products such asprimary flight displays and creating a structure that allows us to be more competitive, we have positioned thecompany to take advantage of new opportunities that exist within our marketplace."


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60 of 62 DOCUMENTS


September 18, 2007

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 surveillancedivision, 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-yearstrategic plan that relies heavily on acquisitions. Recent purchases include a deal worth up to $45 million forPatriot 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 Polishsubsidiary, PZL Mielec, since the spring, according Europe vice-president Bruce McKinney. The companyplans to continue making its M28 Bryza/Skytruck STOL transport aircraft and M18 Dromader agriculturalaircraft three M28s were delivered to the Polish air force this year and three M18s went to China, which willtake another 12 in 2008. The same year, Mielec is to deliver 48 UH-60 cockpit structures to Sikorsky, and apriority will be to establish International Black Hawk manufacture in Poland, with first flight scheduled for2010. The M26 Iskierka piston trainer programme will be terminated. McKinney says: "Now it is difficult totalk 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 AviationAdministration certification to perform aircraft structures and composites repair. Certification of the DallasLove Field-area facility allows Flite Components to offer full in-house composite and sheet metal repairs andmetal bonding for narrowbody and regional aircraft, including Boeing 737, Boeing 757, ATR and all series ofBombardier CRJ and Embraer regional jets. It is the first stage of a planned expansion of composite andstructures repair programmes at Flite Components. Additional capabilities for Airbus and Boeing aircraft willbe 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 forservice, overhaul and spares for the Kopyo radar used in MiG combat aircraft in service with the Indian AirForce. Phozotron, which holds 26% of the joint venture, is the original manufacturer of the Kopyo radar usedin the upgraded MiG-21s. The air force and state-owned Hindustan Aeronautics had wanted to establish adedicated Kopyo facility, but the required technology was not made available to HAL when India bought theMiGs. Currently, Kopyo radars are sent to Phazotron facilities in Russia for repair.

Standard Chartered buys lessor Pembroke

acquisition London and Hong Kong-listed bank Standard Chartered has struck a deal to buy Dublin-basedaircraft lessor Pembroke Group. No purchase price was disclosed. The deal comes a little over a year afterPembroke managers bought the company from co-owners Rolls-Royce and GATX.


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61 of 62 DOCUMENTS


August 28, 2007

Business briefs

SECTION: BUSINESS

LENGTH: 501 words

HUMAN-POWERED FLIGHT PIONEER RETIRESMILESTONE Paul MacCready (right) has retired aschairman and director of unmanned and electric systems company AeroVironment, the company he foundedin 1971. He is to be replaced by Tim Conver, who has been president since 1991. Last week marked the30th anniversary of the first flight of MacCready's human-powered aircraft, Gossamer Condor, the first everto 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 EnglishChannel. MacCready, born in 1925, has been honoured with an Engineer of the Century award by theAmerican Society of Mechanical Engineers and the NASA Public Service Grand Achievement Award, andwas selected as Graduate of the Decade by the California Institute of Technology and named one of the 100greatest minds of the 20th century by Time magazine.

See Comment P5LOCKHEED MARTIN BUYS SERIOUS GAMES PLAYERACQUISITION Lockheed Martinhas bought for an undisclosed sum 3Dsolve, a privately held company that creates simulation-based learningsolutions 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 andbecome fully integrated into Lockheed Martin Simulation, Training & Support (LM STS). LM STS presidentDale Bennett says: "This transaction will enable us to strengthen our core competencies, leverage the talentsof our employee base and support Lockheed Martin's long-term strategy of value expansion."BOEING AND

VSMPO FORMALISE TITANIUM LINKJOINT VENTURE Russian titanium producer VSMPO-Avisma andBoeing today formalised a joint venture to produce rough titanium forgings for the 787, and named a Boeingveteran to run it. The 50/50 joint venture, called Ural Boeing Manufacturing (UBM), is being created atVSMPO's premises in Verkhnaya Salda and will become operational next year. The forgings will be shippedto Boeing's facility in Portland, Oregon for final completion, according to a statement released by the twocompanies. Long-time Boeing executive Gary Baker has been appointed UBM's general director and generalmanager. He will be headquartered in Verkhnaya Salda, where UBM is building a shop and office facility.ECCLEARS STORK TAKEOVERPRIVATE EQUITY European Commission regulators have approved theplanned acquisition of Dutch Fokker Services parent Stork by equity group Candover. The EC, which studiedthe proposed takeover under a simplified merger review procedure, says that it has "granted clearance" tothe acquisition. Candover initiated the takeover of Stork - active in the aerospace services andaerostructures fields, as well as other diverse sectors - earlier this month after gaining Stork boardrecommendation for its proposal. Its takeover centres on an all-cash offer of ?47 ($63) per share for all ofStork's capital.


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62 of 62 DOCUMENTS


June 19, 2007

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 andTool Making Association (GTMA). The two groups say the partnership will allow member companies from thetwo associations to team up to offer more complete solutions to customers, and FAC members will benefitfrom routes to new aerospace markets. LATECOERE EYES CZECH OPPORTUNITYJOINT VENTURE AeroVodochody owner, Czech/Slovak investment group Penta Investments, is considering forming a partnershipto build aircraft doors with French aerostructures specialist Lat?co?

re, according to reports in the Czech media. The joint venture could be located in Prague at the site ofTechnometra, a subsidiary of Aero Vodochody, according to the reports. Penta Investments bought AeroVodochody in January.TAT TECHNOLOGIES' UNIT DETAILS IPO PLANOFFERING TAT Technologies is tocut its stake in maintenance repair and overhaul division Limco-Piedmont (LPI), which is made up of LimcoAirepair and Piedmont Aviation Component Services. The sale of 500,000 of TAT's shares, leaving witharound 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 theStork-owned company Fokker Services pulled out of a plan to purchase a stake.BOEING TO SOURCETITANIUM FROM CHINAPROCUREMENT Boeing is sourcing a total of 4,300t of titanium from Chineseproducer Baoji Titanium over the next three years in a contract worth over 1 billion yuan ($130 million). Themanufacturer will receive 780t of the processed titanium in 2007. Meanwhile Airbus has signed a long-termagreement for the supply of aluminium products for the A380 and A350 XWB with Alcan. SAFRAN SEESCHINA 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 executiveJean-Paul Bechat. He adds: "The China sky is still limited to military helicopters." SAS GROUP TO SELLAIRLINE STAKESDIVESTMENT SAS Group is selling its stakes in Air Greenland, BMI and Spanair (seegraph) as part of its four-year strategic plan to focus on flights to, from or within northern Europe. Thecompany is also considering the future of its SAS Ground Services, SAS Technical Services and Spirit AirCargo Handling divisions.FLIGHT OPTIONS INCREASES MRO CAPABILITYMAINTENANCE Fractionalownership operator Flight Options is increasing its maintenance, repair and overhaul capability by opening abase in Las Vegas. The facility will perform light to medium level maintenance.


LANGUAGE: ENGLISH



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