B/E Aerospace announced first quarter 2013 financial results. First quarter 2013 revenues of $842.2m increased $94.9m, or 12.7%, as compared with the prior year period. First quarter 2013 operating earnings were $153.6m, an increase of 18.3%, and operating margin of 18.2% increased 80 basis points as compared to the prior year period. The growth in
ALAFCO Aviation Lease and Finance Company and PT Garuda Indonesia jointly held a formal signing ceremony in Jakarta to commemorate the financing of 2 Boeing 777-300ER aircraft. Under the transaction, ALAFCO will be financing 2 Boeing 777-300ER aircraft for Garuda Indonesia through a sale and lease back scheme. The aircraft will be delivered from Boeing
On April 19th, the U.S. Federal Aviation Administration (FAA) approved the battery system improvements for the 787 Dreamliner, clearing the way for Boeing and its customers to install the approved modifications and consequently lead to a return to service and resumption of new production deliveries.
Rockwell Collins announced that Chairman and CEO Clay Jones, has informed the company’s board of directors of his plans to retire as CEO effective July 31, after almost 34 years of service. Rockwell Collins President Kelly Ortberg is expected to succeed Jones as CEO at that time. Jones will remain on the company’s board of
Boeing will adjust the production rate for the 747-8 program from two airplanes to 1.75 airplanes per month because of lower market demand for large passenger and freighter airplanes. Boeing will continue to monitor market conditions and their effect on production rates moving forward. The company expects long-term average growth in the air cargo market
Finnair has sold its entire holding of 1,649,862 shares, representing 4.69% of total shares, in Norwegian Air Shuttle ASA (Norwegian). The shares were sold for approximately €53m and Finnair’s capital gain for the transaction totalled approximately €34m. It will be recorded as financial income in Finnair’s second quarter 2013 accounts. Finnair’s holding in Norwegian was
Pentagon 2000 Software, a leader in fully integrated Aerospace & Defense MRO software systems, reported that Fokker Services B.V., has implemented the Pentagon 2000SQL Heavy Maintenance MRO system, at its new state-of-the-art facility in Singapore. Mr. Arend Teters, ICT Manager for Fokker Services, said “We are continuing with our strategy of worldwide implementation of the
Lufthansa Technik Shenzhen (LTS) is expanding its maintenance, repair and overhaul (MRO) offer in the Asia-Pacific region even further: the cornerstone was laid on 18 April for two new LTS buildings at Bao’An International Airport in Shenzhen in southern China, where the company is headquartered. When they are complete, LTS will have doubled its workshop
Within the framework of the Joint Technology Initiative “Clean Sky”, Liebherr-Aerospace Toulouse SAS and Sonaca SA, Gosselies (Belgium), have recently achieved a major milestone in the development of a wing ice protection system that uses electric instead of pneumatic energy. The companies had the thermal performances of the electric ice protection system validated in both
Copa Airlines and Lufthansa Technik AG have signed a five-year Total Component Maintenance (TCM) contract for the airline’s entire Boeing 737NG fleet, currently consisting of more than 60 Boeing 737-700 and -800 aircraft. Respective services will also be provided to aircraft due to be delivered to Copa Airlines in the next few years. Lufthansa Technik
