DAYJET PASSES FINANCE MILESTONE
EXECUTIVE TRAVEL DayJet has closed debt facilities totalling $140 million to acquire its fleet of Eclipse 500 very light jets. The facilities include senior debt on the aircraft and financing of pre-delivery deposits. Combined with previous rounds of private equity financing, DayJet has raised more than $200 million to date. Chief executive Ed Iacobucci says: "This new fleet, in combination with our continued success in recruiting and training a team of exceptional aviation professionals, keeps DayJet on target to launch commercial operations in the coming weeks."
VODOCHODY IN MAJOR CARBONFIBRE INVESTMENT
COMPOSITES Aero Vodochody is making a major investment in carbon composite technology in a bid to win more co-operation orders. President Peter Ondro says the Czech Republic's biggest aircraft maker will spend CKr300 million ($14.7 million) on new technology for its plant north of Prague to make carbonfibre covers that protect aircraft from high engine temperatures. Vodochody will spend another CKr70 million on composite-making technology for its existing plant, in partnership with Ohio-based National Composite Center. Marek Dospiva, co-owner of Penta, which owns Aero Vodochody, says negotiations are under way to buy a second factory for composite manufacture.
MEGGIT BANKS ON CIVIL SECTOR
RESULTS Aerospace and electronics group Meggitt cited "very strong growth" in civil markets and a "healthy" defence business to record 10% revenue growth to £358 million ($175.6 million) and 11% growth in underlying pre-tax profits to £69 million for the six months to 30 June. Exceptional costs related to acquisitions, including of the K&F braking systems and flexible bladder fuel tanks business, left pre-tax profit down by £500,000 at £64.9 million. The main aerospace equipment business unit posted a 7% revenue rise to £186.7 million while operating profit jumped 155% to £50.5 million. Sensing systems revenue and profit were up 8% to £114.2 million and 10% to £19.3 million, respectively. Defence revenue was up 27% at £57.1 million, but exchange rates hit operating profit growth.
FLYJET LOGS OFF
CHARTER UK all-premium transatlantic carrier Silverjet is to quit the charter market now served by its Flyjet subsidiary when leases on a pair of Boeing 757s expire in November and January 2008, as it focuses on its core business. Silverjet acquired UK charter operator FlyJet and lessor SkyLease last October to accelerate the launch of its operations by giving it immediate access to an air operator's certificate and two Boeing 767s at preferential lease rates.
STRONG FIRST HALF BOOSTS KAMAN
SALES Kaman, maker of Super Seasprite maritime and K-Max medium- to heavylift helicopters and specialist aerospace components, reported strong first-half year-on-year sales growth in its helicopters segment, gaining nearly 37% to $36.5 million and reducing operating losses to $1.3 million - including a $2.4 million pre-tax charge for its Australia helicopter programme - compared with $3.2 million last time. Second quarter sales were bolstered by an ongoing maintenance and upgrade programme for Egyptian SH-2G(E) aircraft, and a Sikorsky Black Hawk programme involving fuselage joining, installations and other tasks.
Source: Flight International
