MAHINDRA AIMS TO BE INDIA'S EMBRAER'
The aerospace subsidiary of Indian automotive major Mahindra and Mahindra is investing Rp2.5 billion ($54 million) in a Bangalore factory to make aircraft components and, later, assemble small transport aircraft. Speaking on the arrival in Bangalore of a Gipps Aero GA8-TC Airvan on a round-the-world tour, chief executive Anand Mahindra said: "We want to become the Embraer of India." The company, which last December acquired Gippsland Aeronautics and Aerostaff, of Australia, is co-developing a five-seater, NM 5.
BA AND IBERIA OUTLINE MERGER PROCESS
British Airways and Iberia have taken another step towards their integration with the signing of a merger plan document, required under Spanish law to proceed with the tie-up. Under the plan Iberia will hive down its assets and liabilities to a new operating subsidiary and, with a BA holding company, BA Holdco, merge into holding company International Consolidated Airlines Group.
LUFTHANSA: EMISSIONS TRADING COST UP TO €300M
Lufthansa expects the European Union's emission-trading system to cost up to €300 million ($365 million) depending on certificate price. But, says, chief financial officer Stephan Gemkow, the carrier would be "more able to pass on" the emissions-trading cost to passengers than the proposed German aviation tax.
GLOBAL AVIATION FILES FOR $100M IPO
Global Aviation Holdings, the parent company of North American Airlines and World Airways, has filed for a US initial public offering that aims to raise $100 million. The number of shares and price range for the offering have yet to be determined.
SIKORSKY SEALS AUSTRALASIA BEARING PACT
Brisbane, Australia-based Sikorsky Helitech, has reached an Australasia distribution agreement with Timken for bearing inspection, overhaul and reconditioning services.
EMISSIONS RULES LOOK GOOD FOR SENIOR
UK-based components maker Senior reports in a pre-close statement that it expects profitability for the first half of 2010 to be significantly ahead of the same period last year. It expects tightening emission legislation and growth in renewable energy markets to provide "healthy longer term opportunities".
TEIJIN IN LONG-TERM AIRBUS CARBONFIBRE DEAL
Japanese textile maker Teijin has signed a long-term materials supply deal with Airbus, initially for a laminate of carbonfibre reinforced thermoplastic resin for the A350. Teijin's Toho Tenax unit is investing in a new thermoplastic line in its German manufacturing facility, which should begin production in March 2011.
CZECH CLEARS WAY TO SEPARATING MRO DIVISION
Czech Airlines has cleared the way to establishing its technical division as a separate subsidiary, although it has not indicated whether it plans to sell off the unit.
SATURN NEEDS $269M FOR SAM146 RAMP-UP
Engine manufacturer PowerJet's Russian partner, NPO Saturn, says it needs around Rb8.4 billion ($269 million) of investment over three years to ramp up production of the SaM146 powerplant for the Sukhoi Superjet 100 regional jet.
Source: Flight International
