For the first quarter of FY2019-20, SIAEC Group posted a revenue of SG$258.1 million, comparable year-on-year. Revenue from the airframe and line maintenance segment was SG$2.3 million higher. This was partially offset by a SG$1.9 million decrease in revenue from the engine and component segment. Expenditure at SG$240.4 million was lower by SG$7.1 million or
Having made a name for itself by pioneering air-to-air refueling technology and its technology also found on Airbus jets as well as F-35 fighters, British company Cobham is to be acquired by American private equity group Advent International for £4 billion (US$5 billion). The offer equates to 165 pence in cash for each share in
At half-year, MTU Aero Engines AG has raised its forecast for 2019. The company is now projecting an adjusted EBIT margin in the region of 16%. The original forecast had been 15.5 % (2018: 14.7 %). “The increase in the earnings outlook mainly reflects two factors: One is that our MTU Maintenance Zhuhai site in
WestJet Airlines’ shareholders and optionholders have overwhelmingly voted to approve its previously announced proposed transaction with Onex Corporation, at a special meeting held July 23. Of the votes cast at the Meeting, more than 92.5% of shareholders and optionholders who voted were in favour of the proposed transaction. WestJet and Onex entered into a definitive
The Boeing Company has reported second-quarter revenue of US$15.8 billion, GAAP net loss of (US$2.9) billion, loss per share of (US$5.21) and core loss per share (non-GAAP) of (US$5.82), reflecting the previously announced 737 MAX charge (which reduced revenue by US$5.6 billion and earnings by US$8.74 per share) as well as lower 737 deliveries partially
With over 300 of the Boeing 737 MAX jets grounded worldwide, United Technologies has seen an increase in demand for its aircraft maintenance parts and services for airlines’ other aircraft and, as a consequence, has raised its full-year sales and profit forecast. It is one of the first companies to openly signal that it has
Lockheed Martin has reported second quarter 2019 net sales of US$14.4 billion, compared to US$13.4 billion in the second quarter of 2018. Net earnings in the second quarter of 2019 were US$1.4 billion, or US$5.00 per share, compared to US$1.2 billion, or US$4.05 per share, after severance charges of US$96 million, in the second quarter
Cathay Pacific Airways (Cathay Pacific), the flag-carrying Hong-Kong based airline, has announced it has completed the purchase of low-cost carrier Hong Kong Express Airways. The deal, when announced back in March this year, was for a purchase price of KK$4.93 billion (US$628 million) in the form of HK$2.25 million in cash and the pledge to
Safran Electrical & Power has acquired Neelogy, a French start-up that has developed a disruptive technology for electrical current sensors that are tailored to the needs of the more electric aircraft, as well as hybrid and totally electric propulsion. Since 2006, Neelogy has been developing and marketing DC and AC current measurement sensors of unrivaled
The Boeing Company has to accept billions in special costs in its balance sheet owing to the 737 MAX crisis. In the second quarter, an additional burden of US$4.9 billion after taxes will be incurred, the company announced on Thursday after the close of the U.S. stock market. The 737 MAX series has been grounded
