SAYING IT BIG
ADVERTISING A London advertising business hopes to give new meaning to the term "megasite" with the unveiling on 22 October of a 100 x 200m (330 x 650ft) advertisement for a real estate business visible from aircraft approaching Dubai. Ad-Air - backed by £5 million ($10.1 million) of private equity finance - also has sites lined up at London Heathrow, Paris, Madrid, Los Angeles, Beijing, Tokyo and other major airports. The advertisements will lie flat, tied to ordinary scaffolding just above ground level. To avoid puddling, which would attract migratory birds, advertisements will be printed on mesh except in desert locations, where vinyl sheet will be used. Operations director Haakon Dewing says the cost of producing an advertisement is about £100,000 and installation another £15,000 prices to clients will be in line with "spectacular" outdoor advertising.
CESSNA SWOOPS IN TO SAVE BANKRUPT COLUMBIA
ACQUISITION Cessna is to take over manufacture and support of the Columbia Aircraft product line if a US bankruptcy court approves a deal for it to buy certain assets and liabilities of the Bend, Oregon-based manufacturer, which last week filed for protection under Chapter 11 of the US Bankruptcy Code. Columbia makes a range of all-composite aircraft including the Columbia 400, which it describes as "arguably the world's fastest certificated piston-single". Cessna chief executive Jack Pelton says: "Columbia's unique capability in the high-end single-engine piston market makes it a perfect complement to our Next Generation Piston product line and could provide our customers with the option of an outstanding low-wing, high-performance piston airplane."
SMITHS NAMES BOWMAN NEW chief executive
RESULTS Engineering firm Smiths Group has named former Scottish Power and Allied Domecq chief executive Philip Bowman as its new chief executive to succeed Keith Butler-Wheelhouse, who will retire in December after 11 years in the job. Smiths also posted a 9% increase in headline pre-tax profits on continuing operations to £344 million ($693 million) in preliminary figures for the year ending 31 July. This included a 10% increase in underlying operating profits and revenues in its detection business - which includes supply of detection equipment to airports - to £79 million and £438 million respectively. Earlier this year Smiths sold its aerospace business to GE Aviation in a $4.8 billion deal.
VIETNAM LAUNCHES FIRST LEASING COMPANY
AIRCRAFT FINANCE Four Vietnamese government firms have launched the country's first aircraft leasing company, Vietnam Aircraft Leasing (VALC), capitalised at $200 million, to directly purchase aircraft so local airlines rely less on leasing. VALC is expected to start by taking over the purchase of four 787s that Vietnam Airlines has on order with Boeing.
SIA ENGINEERING, WADIA DROP MRO PLANS
MAINTENANCE Singapore Airlines subsidiary SIA Engineering and India's Wadia Group, which owns low-fare carrier GoAir, have dropped plans to form a 51%-SIA, 49%-Wadia joint venture maintenance, repair and overhaul company in India. SIA Engineering says that, after a year of talks, the two sides "could not reach agreement on a few major issues" and have mutually agreed to end discussions. SIA adds that despite the failure of the talks with Wadia Group it "remains committed to establishing a presence in India to support its fast-growing aviation industry".
Source: Flight International
