Vought released that revenue for the year ended Dec. 31, 2008 was $1,796.6 million, an increase of $171.1 million or 11%, compared with the same period last year. Commercial revenue increased $75.2 million, or 9%. Revenue for Boeing programs increased $59.1 million primarily due to increased non-recurring sales for the 747-8 program and initial deliveries
AerCap Holdings reported that AerVenture Limited, its consolidated joint venture, has signed a facility agreement with Calyon S.A. and other banks and financial institutions, outlining the terms pursuant to which the European Export Credit Agencies may provide guarantees on up to $846 million of financing to commercial banks to fund deliveries of A320 family aircraft
Elbit Systems, the international defense electronics company, reported its consolidated results for the fourth quarter and full year ended December 31, 2008. Consolidated revenues for the fourth quarter of 2008 increased by 18.1% to $697.9 million, from $591.1 million in the fourth quarter of 2007. Consolidated revenues for the year ended December 31, 2008 increased
United Technologies Corp. President and Chief Executive Officer Louis R. Chenevert announced $600 million of additional restructuring actions for 2009 and now expects restructuring for the year to total $750 million. These actions will result in global employment reductions of 11,600, primarily from overhead and SG&A reductions throughout UTC. Additional hourly workforce adjustments may occur
EADS achieved satisfying results for the full year 2008 delivering an EBIT of EUR 2.8 billion. The Group benefited from its strong underlying performance and foreign currency effects while dealing with challenges in critical programmes. EADS
Frontier Airlines Holdings has received a firm commitment for $40 million in post-petition debtor-in-possession (DIP) financing from Republic Airways Holdings, an airline holding company based in Indianapolis, Ind. The DIP facility is subject to bankruptcy court approval and other pre-closing conditions. Upon court approval, Republic will provide immediate funding of $40 million to refinance the
Cargojet Income Fund reported that Cargojet Airways, a company owned by the Fund, has agreed to acquire the remaining 49% interest in Prince Edward Air (“PEAL”), its regional operator of cargo aircraft based in Eastern Canada. Cargojet Airways had previously acquired a 51% interest in PEAL on May 1, 2008. The transaction is scheduled to
Full year rental revenues increased 19.1% to $216.0 million, full year net income increased 4.5% to $40.9 million / EPS of $1.14, full year EBITDA increased 20.8% to $197.0 million. Fourth quarter net income increased 66.7% to $10.7 million / EPS of $0.30.
Astronics Corporation announced that its previously reported results for the 2008 fourth quarter and full year ended December 31, 2008, have been revised to reflect the write off of all remaining assets related to its business with Eclipse Aviation, which last week informed its suppliers that it has suspended all business operations after deciding not
General Electric Company (GE) has signed a definitive agreement to purchase Teleflex Incorporated’s (Teleflex) 51% share of Airfoil Technologies International-Singapore (ATI-Singapore), a joint venture between GE and Teleflex, for $300 million in cash. GE currently holds a 49% share in ATI-Singapore. The purchase will be completed upon receipt of various regulatory approvals and customary closing
