EADS LOWERS ON AIRBUS A400M DELAYS
LOSS Delays and a €1.37 billion ($2 billion) charge to its A400M military transport programme swung Airbus to a €677 million nine-month loss before interest and taxes, compared with a €1.15 billion profit for the same period last year. Parent company EADS, which also absorbed a 13% increase in research and development costs, was pulled to a €343 million EBIT loss, compared with €1.4 billion profit last time group revenue for the period was up 1% up at €27.8 billion. EADS is expecting its full-year revenues to be in slight decline against 2006, based on 440-450 aircraft deliveries and taking account of the US dollar impact. During the nine-month period Airbus received gross orders for 854 aircraft and delivered 330 aircraft, 10 up on 2006. At the end of September 2007 EADS's orderbook grew to €304.7 billion, against €262.8 billion at the end of 2006, despite a €13 billion hit from a revaluation due to the weaker US dollar.
EUROCOPTER UK AGENT BECOMES SUBSIDIARY
SALES Eurocopter has acquired its UK and Ireland sales and support agent McAlpine Helicopters for an undisclosed sum the manufacturer previously held 10% of McAlpine, which is now Eurocopter UK. McAlpine has sold more than 200 helicopters in the past 30 years and designs, installs, flight tests and certificates modifications. Management and 169 staff remain in place and the company remains in Oxford. Eurocopter's market share in the UK and Ireland is 73% in the police and law enforcement segment, 73% in the EMS market and 50% in the commercial/private segment.
BRA CRISIS 'WILL NOT AFFECT' EMBRAER DELIVERIES
DELIVERIES Embraer still expects to deliver between 165 and 170 aircraft in 2007 despite a financial crisis that has temporarily shut E-Jet customer BRA Transportes Aereos. BRA earlier this year signed a firm order for 20 Embraer 195s, leased another two of the same aircraft and secured options and purchase rights for up to 55 more. But the airline laid off 1,100 employees and suspended operations from 7 November until it receives a cash infusion from investors.
SAS WILL TAKE $100M HIT FROM Q400 TROUBLES
RESULTS SAS Group is expecting an impact of SKr600-700 million ($95-111 million) on its full-year results following the problems associated with the company's Bombardier Q400 fleet. The company produced the estimate as it released nine-month interim results showing operating income doubled to SKr1.19 billion in the year to 30 September as revenue rose 3.4% to just under SKr47 billion. SAS says SKr200 million of the overall Q400 cost impact is attributable to the third quarter, when two Scandinavian Airlines Q400s suffered gear-related landing accidents prompting SAS to ground the fleet pending inspection and servicing.
SIA ENGINEERING TO SET UP VIETNAM VENTURE
MAINTENANCE SIA Engineering is establishing an aircraft line maintenance company at Ho Chi Minh City's Tan Son Nhat International airport in a joint venture partnership with Vietnamese state-owned ground handler Saigon Ground Services. The Singapore maintenance, repair and overhaul firm says it plans to later expand into other airports in Vietnam and grow its service offering to include light and heavy maintenance as well as component overhaul. SIA will hold 49% of the joint venture. Saigon Ground Services clients include All Nippon Airways, Asiana Airlines, Cargolux Airlines, United Airlines and others.
Source: Flight International
