Honeywell released that Aerospace sales were up 8% compared with the second quarter of 2011. Organic growth was 7%, or 4% organic excluding the absence of prior year payments to Business and General Aviation customers to offset preproduction costs (OE payments). Aerospace growth was driven by an 18% increase in Commercial end markets, partially offset
AMR Corporation, the parent company of American Airlines, reported second quarter revenue of $6.5bn, an increase of 5.5% year-over-year and the highest quarterly revenue in company history. In the second quarter of 2012, the company reported a net profit of $95m, excluding reorganization and special items – a $381 million improvement over the second quarter
AAR (AIR) reported fourth quarter fiscal 2012 results that were in line with the preliminary results released on June 14, 2012. Fourth quarter sales were $563.3m compared to sales of $487.8m in the fourth quarter of last year. For the Company’s fiscal year 2012, sales were a record $2.1bn, a 14.4% increase versus the prior
Hawker Beechcraft (Hawker Beechcraft) reported that the U.S. Bankruptcy Court for the Southern District of New York has approved the company’s motion to enter into exclusive negotiations with Superior Aviation Beijing Co., (Superior). Approval of this motion allows Hawker Beechcraft to spend up to 45 days exclusively negotiating with Superior regarding a strategic combination that
Precision Castparts Corp., a worldwide, diversified manufacturer of complex metal components and products, has agreed to acquire certain aerostructures business units and McSwain Manufacturing from Heroux-Devtek Inc. Heroux-Devtek’s aerostructures operations manufacture a wide variety of components and assemblies from aluminum, aluminum-lithium, and titanium, such as bulkheads, wing ribs, spars, frames, and engine mounts. The aerostructures
Pratt & Whitney and IAE International Aero Engines (IAE) shareholders, Japanese Aero Engines Corporation and MTU Aero Engines GmbH, announced details of the June 29 closing of Pratt & Whitney’s agreement to purchase Rolls-Royce’s program share in the IAE Collaboration. Pratt & Whitney has increased its program share to 61% and MTU Aero Engines has
GKN reported its agreement to acquire Volvo Aero (the aero engine division of AB Volvo). Volvo Aero designs, engineers and manufactures components and sub-assemblies for aircraft engine turbines. It supplies all the major aero engine manufacturers and has positions on most major civil aerospace platforms that are set to increase as aircraft build rates ramp
Wesco Aircraft Holdings, a leading provider of comprehensive supply chain management services to the global aerospace industry, completed the acquisition of substantially all of the assets of Interfast Inc. on July 3, 2012 pursuant to the definitive agreement announced on May 24, 2012. The CDN$134m acquisition was funded via a combination of cash and borrowings
Virgin America reported its financial results for the first quarter of 2012. With overall fuel costs higher by 47% year-over-year, the financial pressure of the airline’s industry-leading capacity growth and a revenue shortfall associated with the carrier’s transition to a new reservations system, Virgin America reported a first quarter operating loss of $49 million on
Rolls Royce confirmed that it completed the restructuring of its participation in International Aero Engines (IAE) Collaboration, which produces the V2500 engine for the Airbus A320 family of aircraft. Rolls-Royce has sold its equity and programme shares in the IAE Collaboration to Pratt & Whitney, a United Technologies Corp. company, for a consideration of $1.5 billion.
