RUSSIA BOOSTS CIVIL MANUFACTURING SUBSIDIES
Russia's government is to provide extra subsidies of up to Rb1.47 billion ($44 million) to engine-production firms and to airframers within United Aircraft to support civil aviation products leased from January 2006. To date, manufacturers have only received government financial aid to pay interest on bank loans for plant modernisation.
GOODRICH BUYS UAV AVIONICS MAKER
Goodrich has acquired privately held unmanned air vehicle avionics maker Cloud Cap Technology for an undisclosed sum. Cloud Cap employs 30 people in Oregon making autopilot flight management systems, inertial measurement sensors and stabilised imaging microgimbals for small UAVs.
BIDS IMPLY DIVISION OF SR TECHNICS DUBLIN
Around six bids for maintenance firm SR Technics' Dublin plant are being considered, according to Ireland's Industrial Development Agency and Enterprise Ireland, which says there are "very few" offers to take on the entirety of the business. SR Technics is winding it down and declines to identify the bidders.
SPIRIT EARNINGS SLIDE ON POST-STRIKE SLOWDOWN
Spirit AeroSystems blamed a 26% dip in first quarter earnings to $63 million on revenue down 14% to $887 million on slower output in the aftermath of the 57-day machinists' strike at Boeing last year. Spirit delivered 30 fewer units to Boeing compared with pre-strike delivery levels.
UNION CALLS FOR STATE STAKE IN AIR CANADA
A union representing nearly 5,000 Air Canada employees wants the government to take a stake in the cash-strapped carrier, which hopes to agree a moratorium on funding its C$3.2 billion ($2.7 billion) pension deficit. The Canadian Auto Workers' response to the moratorium idea is: "Forget it."
AIR FIJI SHUTS OPERATIONS
Fijian Embraer EMB-110 and Harbin Y-12 operator Air Fiji has ceased operations and is taking no bookings, with news reports quoting chairman Wu Shengyue as saying Air Fiji needs "to avoid the risk of violation of laws for carrying business for an insolvent company". Air Fiji was unavailable for comment, as its main telephone lines have been disconnected.
ILFC ' TOO BIG TO SELL WITHOUT GOVERNMENT AID'
The sale of leasing giant ILFC will require US government intervention, says one senior industry executive. "It is a huge business to attempt to sell in the current market given the constraints on financing," says Genesis Lease chief executive John McMahon. ILFC has been for sale since its parent company, the troubled insurer AIG, was taken over by the US government in a bail-out package. Bids for the 900-aircraft lessor are thought to value it at less than $5 billion.
AIR LIVERY TO OPEN MANCHESTER PAINT FACILITY
UK aircraft refinishing company Air Livery is to open a new paint centre at Manchester airport in July so it can maintain existing Airbus A330/A340, Boeing 747-400 and 777 work, prepare for new aircraft types and widen its customer base to include clients from the USA, Asia-Pacific region and Africa.
Source: Flight International
