UK aerospace adds value
scoreboard The UK aerospace industry has increased its value added – or wealth creation – year-on-year, according to the UK Department of Trade and Industry’s (DTI) annual scoreboard. The scoreboard, which measures wealth created per company, or sales less the cost of bought-in materials, components and services, shows that total value added for the industry has risen 5% year-on-year to £10.9 billion ($19.8 billion). The survey also measures wealth creation efficiency, or value added divided by employee costs and depreciation (see graph) and demonstrates that all the UK companies making it on to the scoreboard have a healthy score, of over 110%.
Aviareto registrations top expectations
registry Aviareto’s new users have far exceeded initial projections, three months after the cross-border aircraft assets register was opened. Aviareto, an 80:20 partnership between Sita and the Irish government, which went live in March, manages the International Civil Aviation Organisation’s internet-based international aviation asset registry. The company projected 900 users during the first year, but has already recorded more than 3,500. Registrations and search sessions are also ahead of expectations. Chief executive Niall Greene says most business is coming from the USA.
Nigeria boosts Virgin Atlantic revenue
results Virgin Atlantic has posted a pre-tax, pre-exceptional profit of £41.6 million ($75.9 million) for the year to the end of February, as revenues increased by 17% to £1.91 billion. The company includes long-haul carrier Virgin Atlantic Airways and tour operator Virgin Holidays, plus Virgin Nigeria, which launched operations in June 2005. Last year Virgin Atlantic, which did not include Virgin Nigeria, achieved a pre-tax profit of £68 million. The company says that the pre-tax, pre-exceptional profit has more than doubled from the previous year’s £20.1 million. The company partly attributes the improvement in its financial performance to a rise in premium-class passengers – its business traffic was up by just over 10% during the year.
API boosts China presence with new facility
expansion First Aviation Services subsidiary Aerospace Products International (API) is opening a distribution and logistics centre in Shanghai, China. The distribution and supply chain services company says the move will “enhance the product distribution services that API has provided in China since 2000 and allow API to serve as a major third-party logistics provider in the Asia Pacific region”.
Flight seeks influential under-35s
people Flight International is compiling a feature on the most influential young personalities in aerospace and aviation. If you would like to nominate a colleague or acquaintance (35 or under) please email helen.massy.beresford@flightglobal.com specifying their age, current role, brief background and why they deserve to be included in the feature, which will be published later in the year.
Source: Flight International
