New models boost Bombardier orderbook

AIRCRAFT Bombardier Aerospace more than doubled first-half earnings before interest and taxes to $245 million on revenue up 16% at $4.47 billion for the six months ended 31 July. During the second quarter, aircraft deliveries totalled 78 (compared with 75 for the same period last year), including 49 business aircraft (48 last time) and 29 regional aircraft (26), while net orders totalled 187 net orders (103 business aircraft and 84 regional), compared with 77 last time, thanks to the May introductions of the next-generation CRJ700 and CRJ900 regional jets and the launch of the CRJ1000 regional jet in February. Major orders included 15 CRJ900s from Lufthansa, 14 CRJ900s from Delta Air Lines and 15 Q400 turboprops from Flybe. Chairman and chief executive Laurent Beaudoin says: "The aerospace group made good progress in all areas, with increased profitability and high order intake for both regional and business aircraft, raising its backlog to a record level."

Marketing drive pushes IAI to record backlog

RESULTS Israel Aerospace Industries' operating profit in the first six months of 2007 rose 71% to $100 million, while sales increased to $1.62 billion net profit was up 47% to $71 million. Chief executive Itzhak Nissan attributed the results to an aggressive marketing strategy, improved business culture, a company-wide reorganisation plan and strict control over project performance. IAI's backlog at the end of June reached a record $7.2 billion, of which 87% is for export. IAI is Israel's largest industrial exporter.

Predator gets $300m expansion facility

FUNDING General Atomics Aeronautical Systems has taken on a $300 million credit facility from southern California-based Bank of the West to expand manufacturing and sales of its Predator series unmanned aircraft systems for military and commercial applications. The bank and General Atomics Aeronautical have had a financial relationship since 1995. Bank of the West senior vice-president Cory Brazas says: "The company is now expanding to supply a variety of unmanned reconnaissance aircraft to the UK, and is pursuing relationships in Canada and Australia." Neil Blue, chairman of General Atomics Aeronautical, adds: "The bank's syndication ability and willingness to grow with us has provided a highly valued service to the company and the defence effort."

BAE systems sheds inertial products

DIVESTMENT BAE Systems has completed the $140 million cash sale of its Inertial Products business to US private equity group JF Lehman & Co. The Inertial Products business supplies military and commercial customers with inertial sensors and measurement units for the control, navigation and guidance of precision weapon systems, missiles, air and ground vehicles and aerial targets, and provides digital terrain systems for aircraft. The transaction affects 810 employees in the UK and USA. This divestiture is consistent with BAE Systems' strategy to expand as a developer and integrator of systems and de-emphasise its role as a components provider, says Mike Heffron, president of the BAE Systems Electronics & Integrated Solutions unit.




Source: Flight International