MTU Aero Engines again reports improved earnings
MTU Aero Engines Holding AG has once again improved its earnings in the half year up to the end of June 2008, reporting EBITDA1 of
22 July 2008
Airbus granted a European Production Organisation Approval (POA)
The European Aviation Safety Agency (EASA) has granted Airbus a single Production Organisation Approval (POA), which replaces the previous four Airbus POAs issued by the French, German, Spanish and UK Civil Aviation Authorities. The Airbus single POA is both a driver for the harmonisation of tools and processes and a facilitator for the implementation of …
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Honeywell signs extension with Southwest Airlines to maintain fleet
Honeywell has signed a contract extension with Southwest Airlines to provide aftermarket maintenance services for Honeywell avionics and mechanical products on Southwest’s entire fleet of Boeing 737s for the next 10 years. Under the extended agreement, Honeywell will provide aftermarket repair and overhaul services for Honeywell equipment on Southwest’s entire fleet — up to 520 …
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UAL Corporation reports second quarter 2008 results
Driven by a $773 million increase in consolidated fuel expense, UAL Corporation reported a net loss of $2.7 billion or $151 million, excluding certain largely non-cash accounting charges. UAL announced further capacity cuts and the retirement of the entire B737 fleet as well as six B747s. In total, United will retire 100 aircraft and will …
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US Airways posts quarterly loss
US Airways Group reported a net loss for its second quarter 2008 of $567 million compared to a net profit of $263 million for the same period last year. Excluding net special items of $466 million, the Company reported a net loss of $101 million, or $1.11 per share for its second quarter 2008. This …
GE and Mubadala launch global business partnership
United Arab Emirates and Mubadala Development Company, headquartered in Abu Dhabi, UAE, announced a framework agreement on a global partnership encompassing a broad range of initiatives including commercial finance, clean energy research and development, aviation, industry and corporate learning. Building on an already strong relationship and a common view of high growth opportunities in the …
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UPS quarterly profit falls
UPS reported a 6.7% revenue increase in the second quarter but an 18.3% decline in diluted earnings per share to $0.85 compared to $1.04 the prior year. Increasing fuel costs and a stagnant U.S. economy caused the earnings decline in both the U.S. Domestic and International Package segments. In contrast, the Supply Chain and Freight …
JetBlue reports 2nd quarter loss of $7 million
JetBlue Airways Corporation reported that operating revenues for the quarter totaled $859 million, representing growth of 17.7% over operating revenues of $730 million in the second quarter of 2007. Operating income for the quarter was $21 million, resulting in a 2.4% operating margin, compared to operating income of $73 million and a 10.0% operating margin …
Lockheed Martin announces second quarter 2008 results
Lockheed Martin Corporation reported second quarter 2008 net earnings of $882 million, compared to $778 million in 2007. Net sales were $11.0 billion, a 4% increase over second quarter 2007 sales of $10.7 billion. Cash from operations for the second quarter of 2008 was $1.5 billion, compared to $1.4 billion in 2007.