HAZY HOPES TO CLOSE ILFC BUY-BACK BY MARCH
LEASING Steven Udvar-Hazy, founder and chairman of International Lease Finance, says discussions are under way with a "sophisticated" group of institutional investors and large sovereign wealth funds to buy back the world's largest aircraft lessor from troubled parent American Investment Group, which was rescued by the US government in September. Hazy, who founded ILFC 35 years ago and sold it to AIG in 1990 for $1.3 billion, told Flight that he hoped to complete a deal by the end of the first quarter next year.
COMPOSITES, TOOLING BOOST HAMPSON
ENGINEERING Hampson's pre-tax profit for the six months to the end of September was up 127% to £16.1 million ($24.5 million) on sales up 45% at £110.5 million, thanks in part to acquisitions. Chairman Chris Geoghegan says investments in composites and tooling have helped balance Hampson's exposure to the production, development and launch phases of aircraft programmes.
BOEING MAY FINANCE SOME 2009 DELIVERIES
AIRLINERS Boeing chief executive Scott Carson says finance unit Boeing Capital has identified financing sources for deliveries scheduled for the first half of 2009. He adds that it is possible but not certain that some vendor financing may be required.
'CONFIDENCE' DRIVES L-3 SHARE BUYBACKS
EARNINGS L-3 Communications has allocated up to $1 billion for share buybacks over the next two years. Chief executive Michael Strianese says: "This new authorisation underscores our confidence in L-3's strong fundamental business position."
PRATT & WHITNEY BUYS TANK MAKER
ROCKETS Pratt & Whitney Rocketdyne has acquired high-performance spacecraft and missile propulsion components maker ARDE, one of its major supplier of tanks and pressure vessels.
BOEING EXPANDING COMPOSITES VENTURE IN CHINA
MANUFACTURING Boeing is to increase by 60% the capacity of its composite parts manufacturing venture in China, four months after taking majority ownership by buying out Hexcel, its joint venture partner in the former BHA Aero Composites. State-owned China Aviation Industry Corporation retains a minority stake in Boeing Tianjin Composites.
MOOG WINS A350 SUPPLIER DEAL
FLIGHT CONTROL Airbus has awarded the Moog Aircraft Group a contract for the trailing-edge flight-control actuation for the A350 XWB high lift system. It had already been contracted to supply the primary flight control actuation system.
ROCKWELL COLLINS COMPLETES SEOS ACQUISITION
SIMULATORS Rockwell Collins has bought for an undisclosed sum SEOS, a maker of visual displays for flight simulators for Airbus, ATR, and Boeing commercial aircraft and some military types.
JOBS TO GO AS GE CLOSES UK ACTUATOR SITE
COST CUTS GE Aviation Systems is to close its Arle Court facility in the UK town of Cheltenham by March 2010 with the loss of up to 95 jobs. Some 90 jobs will be moved to GE's Bishops Cleeve site. Arle Court performs actuation and landing-gear work for programmes including the Airbus A320, A330, A340, A380 and Boeing 787.
Source: Flight International
