United Arab Emirates and Mubadala Development Company, headquartered in Abu Dhabi, UAE, announced a framework agreement on a global partnership encompassing a broad range of initiatives including commercial finance, clean energy research and development, aviation, industry and corporate learning. Building on an already strong relationship and a common view of high growth opportunities in the
US Airways Group reported a net loss for its second quarter 2008 of $567 million compared to a net profit of $263 million for the same period last year. Excluding net special items of $466 million, the Company reported a net loss of $101 million, or $1.11 per share for its second quarter 2008. This
Driven by a $773 million increase in consolidated fuel expense, UAL Corporation reported a net loss of $2.7 billion or $151 million, excluding certain largely non-cash accounting charges. UAL announced further capacity cuts and the retirement of the entire B737 fleet as well as six B747s. In total, United will retire 100 aircraft and will
MTU Aero Engines Holding AG has once again improved its earnings in the half year up to the end of June 2008, reporting EBITDA1 of
Ryanair announced substantial capacity cutbacks at Stansted for its Winter Schedule (
Honeywell announced second quarter 2008 sales increased 13% to $9.7 billion from $8.5 billion last year. Earnings were up 23% to $0.96 per share, versus $0.78 per share last year. Cash flow from operations was $1,042 million versus $983 million in the second quarter of 2007 and free cash flow (cash flow from operations less
Hamilton Sundstrand has purchased the remaining 49% interest of REVIMA APU. This interest was held by EADS Sogerma — a business unit of EADS — since it entered into a joint venture agreement with Hamilton Sundstrand in 2004. REVIMA APU is now a wholly-owned Hamilton Sundstrand overhaul and repair facility, which will service aircraft Auxiliary
Continental Airlines reported a second quarter 2008 net loss of $3 million. Excluding $22 million of previously announced net after tax special items, Continental recorded a net loss of $25 million. In response to these challenges, Continental implemented a number of initiatives in the second quarter of 2008 to maintain its competitive position in the
Delta’s net income for the June 2008 quarter excluding special charges was $137 million, or $0.35 per diluted share, despite a more than $1 billion year-over-year increase in fuel input costs related to higher prices. Delta’s merger with Northwest Airlines is targeted to close during the fourth quarter of 2008. The company expects approximately $2
AMR Corporation reported second quarter net loss of $1.4 billion including $1.2 billion in non-cash impairment charges and severance-related charges. The company ended the second auarter with $5.5 billion in total cash and announced $500 million in additional financing to further bolster liquidity.
