Financial

MTU Aero Engines’ revenues in 2007 improved by 7% from

Honeywell reported first quarter 2008 sales increased 11% to $8.9 billion from $8.0 billion in 2007. Earnings were up 30% to $0.85 per share, versus $0.66 per share in the prior year. Cash flow from operations was $721 million versus $578 million in the first quarter of 2007 and free cash flow (cash flow from

Southwest Airlines reported its first quarter 2008 results. Net income for first quarter 2008 was $34 million compared to $93 million for first quarter 2007. Excluding special items, first quarter 2008 net income was $43 million compared to $33 million in first quarter 2007.

Philippine Airlines is launching a new, low-fares unit that will operate a fleet of turbo-propeller aircraft to mostly domestic island points under the brand name

Frontier Airlines released that a judge of the U.S. Bankruptcy Court for the Southern District of New York has approved the “first day motions” that Frontier and its subsidiaries submitted as part of their voluntary filing for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Approval of these critical motions helps to ensure Frontier’s

Frontier Airlines Holdings announced that, following an unexpected attempt by its principal credit card processor to substantially increase a “holdback” of customer receipts, which threatened to severely impact Frontier’s liquidity, Frontier and its subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Frontier intends to continue normal business operations

SAFRAN reported that consolidated sales amounted to 2,514 million euros for the 2008 first quarter, up 11% at constant scope and exchange rates over the year-earlier period. Aerospace, defense and security businesses grew by 13.2% to 2,377 million euros, at constant scope and exchange rates. Orders for commercial aircraft engines continued to be buoyant, with

UPS lowered its first quarter earnings expectations to $0.86 or $0.87 per diluted share from a previously anticipated range of $0.94-to-0.98. At UPS

During the first quarter of 2008, Rolls-Royce demonstrated the value of its broad portfolio and of its consistent strategy of investing in technology and capability and access to global markets. The continuing strength of the market was underlined by the announcement of around $14.7 billion of new business in the first three months of 2008.