MTU Aero Engines Holding AG started the financial year 2013 with a 35% surge in revenues, which amounted to €944.7m in the first quarter 2013, compared with €698.0m in the first quarter 2012. The group generated an operating profit of €89.3m (1-3/12: €91.4m), which corresponds to an EBIT margin of 9.5%. Earnings after tax amounted
Safran reported that first-quarter 2013 adjusted revenue was Euro €3,404m, up 9.5% year-on-year, or up 9.6% on an organic basis. Solid revenue growth contribution from Aerospace activities, both in OE deliveries and aftermarket. Sales in Defence were resilient. Positive dynamics in Security. Civil aftermarket up 10.0% in USD terms, driven by first overhaul of recent
Boeing Commercial Airplanes first-quarter revenue decreased to $10.7bn on delivery mix and lower services revenue. First-quarter operating margin improved to 11.4%, reflecting the delivery mix and lower R&D, partially offset by higher period costs. During the quarter, Commercial Airplanes delivered the first 777 aircraft produced at a record production rate of 8.3-per-month and reached a
Etihad Airways and Jet Airways of India released that the UAE national carrier has agreed to subscribe for 27,263,372 new shares in Jet Airways at a price of INR754.74 per share. The value of this equity investment is US$379m and will result in Etihad Airways holding 24% of the enlarged share capital of Jet Airways.
Vueling, the Spanish low cost carrier based in Barcelona, is to become part of International Airlines Group (IAG) after the majority of its shareholders accepted IAG’s cash tender offer for the airline, following recommendation by the Vueling board. IAG’s subsidiary Iberia already owns 45.85% of Vueling’s shares and Iberia’s board agreed not to tender them
Delta’s net profit for the March 2013 quarter was $85m, excluding special items. This result is a $124m improvement year-over-year. Including $78m in special items, Delta’s GAAP net income was $7m. Results include $20m of profit sharing expense in recognition of Delta employees’ contributions to the company’s financial performance. Delta generated $1.1bn of operating cash
US Airways Group reported its first quarter 2013 financial results. For the first quarter 2013, net profit excluding net special items was a record $55m, compared to a net loss, excluding net special items, of $22m for the first quarter 2012. On a GAAP basis, the Company reported a net profit of $44m for its
Safran has reached an agreement with Rolls-Royce to acquire Rolls-Royce’s 50% share in their joint RTM322 helicopter engine programme. Upon closing, Turbomeca (Safran’s helicopter engine business) will assume global responsibility for the design, production, product support and services for the RTM322 engine, a 2,100-2,600 shp engine family equipping the Apache, EH101 and NH90 helicopters. Rolls-Royce
TransDigm Group and Aerosonic announced a definitive merger agreement, providing for Aerosonic to become an indirect wholly-owned subsidiary of TransDigm. TransDigm and Aerosonic both design, manufacture and supply highly engineered aircraft components. Under the terms of the agreement, TransDigm will offer to acquire all of the outstanding shares of Aerosonic for $7.75 per share in
B/E Aerospace announced first quarter 2013 financial results. First quarter 2013 revenues of $842.2m increased $94.9m, or 12.7%, as compared with the prior year period. First quarter 2013 operating earnings were $153.6m, an increase of 18.3%, and operating margin of 18.2% increased 80 basis points as compared to the prior year period. The growth in
