EXECUTIVES CLEARED OF A380 INSIDER TRADING
All Airbus and EADS executives accused of insider trading have been cleared by the French stock exchange regulator Authorité des Marchés Financiers. Seventeen individuals and EADS's corporate shareholders had been under scrutiny in relation to share trading in March 2006, a few weeks ahead of revelations about delays to the Airbus A380. An AMF recommendation had called for heavy fines, including against former Airbus chief Noel Forgeard and current sales head John Leahy, as well as EADS itself.
BOEING HAILS WTO WARNING BY CONGRESS
Boeing has praised 125 US lawmakers for signing a letter to President Obama urging the US government to take action after the World Trade Organisation released an "imminent" final ruling against Airbus for accepting illegal subsidies to launch the A380. The brief letter says: "When the WTO's final ruling in this matter confirms US claims that Airbus products were illegally subsidised, we will be committed to ensuring this principle is upheld."
ICAO CITES UNPRECEDENTED TRAFFIC DECLINES
Preliminary figures for 2009 compiled by the International Civil Aviation Organisation show the overall 3.1% year-over-year decline in passenger traffic with carriers of its member states is the largest on record - 2001's drop was 2.9%.
OLYMPIC AIR 'WILL NOT RUSH TO EXPANSION'
Management at Olympic Airways' successor carrier Olympic Air will only look at expansion once it has demonstrated to its private shareholders that the business, which launched services in September, is successful. Chief executive Antonis Simigdalas, speaking in Brussels, says 2011 could be a break-even year.
UAC OBTAINS RUSSIAN STATE AID
Russia is to allocate the equivalent of Rb45.3 billion ($1.5 billion) in financial aid to United Aircraft to pay off the overdue debts to banks and increase its charter capital. "The goal is to provide for serial civil aircraft production and meet the requirements of state aviation," says vice-premier Sergei Ivanov.
ATR OPENS NEW ASIAN LOGISTICS SUPPORT CENTRE
Regional airframer ATR is opening a new logistics support centre in Kuala Lumpur, to be managed by DHL Supply Chain. Twenty-three South-East Asian carriers operate a total of around 90 ATRs. The airframer already has an Asian support centre in Singapore, as well as centres in Paris, Miami and Auckland.
CURTISS-WRIGHT ACQUIRES SKYQUEST SYSTEMS
Curtiss-Wright has acquired Skyquest Systems, a supplier of aircraft video displays, recorders, and video/radar converters for surveillance aircraft applications in the aerospace and defence markets, for £10 million ($16 million). The UK-based business will become part of Curtiss-Wright's Motion Control segment.
UK, EUROPEAN BOOST FOR REGIONAL SUPPLY CHAIN
The UK's Northwest Regional Development Agency and the Northwest European Regional Development Fund are putting £7.1 million ($11.4 million) into a second North West Aerospace Supply Chain Excellence programme. Over 30 suppliers in the region joined a 2006 programme, each mentored by a representative from Airbus, BAE Systems, Rolls-Royce or Aircelle.
Source: Flight International
