Goodrich boosts Middle East MRO
expansion Goodrich is expanding its maintenance, repair and overhaul (MRO) capacity in the Middle East with the construction of a 9,900m2 (110,000ft2) facility in Dubai. The shop, at Jebel Ali, is set to be completed in the third quarter of 2007.
Embraer forecasts strong VLJ market
outlook Embraer is forecasting global demand for 7,500 aircraft of between 30 and 120 seats by 2026 (see graph). The manufacturer also predicts demand for 11,115 business aircraft over the decade. Of these, it expects 24% to be very light jets (VLJ), and 21% light jets. The company adds that the new air taxi market could add another 2,500-3,000 aircraft to the VLJ segment. Embraer expects to deliver between 160 and 165 aircraft across all segments next year, and between 195 and 205 in 2008, including 15 to 20 VLJs.
AerCap plans loan payback with IPO
offering Dutch lessor AerCap is planning to use a portion of the estimated $600 million raised from its initial public offering (IPO) to repay some of the loans it took out to fund the acquisition of AeroTurbine earlier this year. The $23 per share price is in the middle of its expected price range, for the sale of 26.1 million shares, including 6.8 million held by the lessor itself and 19.3 million held by shareholders. Its ordinary shares are trading on the New York Stock Exchange.
BBA restructures to focus on aerospace
demerger UK-based BBA Group has completed the demerger of its fabrics business, and is now renamed BBA Aviation. The move sees the firm's aviation activities - mostly in the business aviation market, and US-based airport ground services market - grouped together. Its operations in the fabrics sector are now a separate company, called Fiberweb. Both entities are listed on the London Stock Exchange.
Italy's Sicamb forecasts growth
strategy Italian manufacturer Sicamb is predicting revenues of as much as €45 million ($58 million) by 2008, compared with a forecast of around €40 million this year. The company has been investing in machinery to allow it to manufacture larger parts, and research and development in a drive to win more work on large commercial aircraft programmes. It has also increased its design capability to allow it to offer customers a complete package. The company is expecting to deliver the first two prototypes of its Airbus A380F cargo doors early next year and is "finalising" its participation in the Joint Strike Fighter programme with part-owner Martin Baker.
IAI profit to depend on work force cuts
results Israel Aircraft Industries (IAI) expects to report a net profit of $100-$150 million for 2006, but the exact profit will depend on the amount earmarked for reducing its workforce, under the company's major cost-cutting programme. IAI's net profit for the first six months of 2006 was $75 million, compared with $25 million for the same period in 2005. The value of new contracts signed since the start of the year is roughly $3 billion, taking the company's backlog up to $7 billion.
Source: Flight International
