As announced by ExelTech Aerospace on February 19, 2009, it entered into discussions with the holders of convertible debentures which mature February 26, 2009 (the “Debentures”) and obtained the consent of a requisite number of holders to extend the maturity date of the Debentures for a period of three months, to May 29, 2009. The
DVB Group (DVB) presented its financial statements for the 2008 business year. Maintaining its consistent focus on the global Transport Finance business, the Bank followed up on the record figures posted for 2007 with a very satisfactory result, in spite of all the challenges brought about by the spreading crisis in the financial markets and
BAE Systems has entered into a definitive agreement to acquire Advanced Ceramics Research, Inc., a Tucson, Arizona-based producer of small Unmanned Aircraft Systems (UAS) and advanced ceramic materials. The transaction is a stock purchase of a private company, and will be completed following receipt of regulatory approvals. The acquisition supports BAE Systems’ UAS strategy. To
In 2008 the Hamburger Lufthansa Technik Group was able to increase its revenues and results in the face of a generally shrinking market. Revenue increased overall by 4.1% to EUR 3.7 billion. The 2008 annual report submitted for the 20 companies that make up the Lufthansa Technik Group showed a EUR 295 million pre-tax profit,
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
