BAE Systems signed a definitive agreement to sell its Flight Systems business, located in Mojave, California, to Calspan Corporation. The cash purchase price is $62.5 million plus an additional consideration to be paid pursuant to an earn-out mechanism by reference to the revenues of the business over the next five years. The transaction is subject
Rockwell Collins announced its intent to acquire Athena Technologies, Inc., a privately held company that develops and provides flight control and navigation solutions primarily to the Unmanned Aerial Vehicle (UAV) market segment. Terms of the agreement were not disclosed. The transaction is expected to be completed in about 30 days and is subject to regulatory
Goodrich Corporation announced that it has signed an agreement to acquire TEAC Aerospace Holdings, Inc. (TEAC), a leading provider of proprietary airborne mission data, video recording and debrief products for the defense industry, and cabin video systems for commercial airlines. The transaction is subject to customary closing conditions and regulatory approvals. Terms of the acquisition
HEICO Corporation reported that net income increased 27% to $10,086,000 for the first quarter of fiscal 2008 from $7,921,000 for the first quarter of fiscal 2007. Operating income increased 36% to $23,230,000 for the first quarter of fiscal 2008 from $17,140,000 for the first quarter of fiscal 2007. Net sales increased 18% to $134,287,000 for
According to preliminary results, after years of losses, Czech Airlines reported a profit of CZK 111 million . Its financial results are more than half a billion crowns better than in 2006, when its finances ended up with a loss of CZK 396 million. The plan for 2007 had expected a profit in the range
Iberia closed 2007 with net earnings of 327.6 million euros, making it one of the best years in company history. Pre-tax profits came to 446.4 million euros, 170.3% above those of 2006. This performance gave the Spanish airline its twelfth consecutive profitable year. Iberia posted 2007 operating earnings of 283.5 million euros, up by 161.6
Fourth quarter 2007 net income was $45.1 million, compared with a net loss of $8.0 million for the same period in 2006. Fourth quarter 2007 net income excluding non-cash charges relating to the mark-to-market of interest rate caps and share-based compen-sation was $57.0 million, an increase of 11% vs. fourth quarter 2006 of $51.2 million
For the full year ended December 31, 2007, AAWW posted net income of $132.4 million more than double 2006 levels, on revenues of $1.563 billion. Operating income of $154.8 million and pretax income of $132.7 million included a nonrecurring gain of $3.5 million on the disposal of aircraft and engines. For the quarter ended December
The Lufthansa Group’s revenue totalled Euro 22.4 billion (previous year: Euro 19.8 billion) at the end of the financial year 2007 according to preliminary figures. The operating result of EUR 1,378 million (previous year: Euro 845 million) exceeded the profit target. The positive business development and income from portfolio management also made their mark on
The Board of Directors of Goodrich Corporation approved an increase to the company’s existing Share Repurchase Plan to authorize the repurchase of up to an additional $300 million of the company’s common stock, bringing the total authorization to $600 million. Since the initial $300 million authorization was approved in October 2006, the company has repurchased
