B/E Aerospace grows fourth-quarter profits
INTERIORS Pre-tax profits at cabin interior supplier B/E Aerospace soared last year to $215 million from just $90 million in 2006 as revenue rose nearly 49% to a record $1.68 billion. Chief executive Amin Khoury says B/E expects about 20% organic revenue growth rate in 2008 and "healthy double-digit" growth during 2009 and 2010, partly driven by the expected significant increase in new widebody aircraft deliveries. Khoury says aftermarket aircraft interiors retrofit demand should remain strong and the slip in the number of Boeing 787s delivered in 2009 will not have a material impact.
Rolls-Royce aerospace profits up 8.7%
PROPULSION Rolls-Royce's civil aerospace division recorded an 8.7% increase in full-year underlying profit to £564 million ($1.1 billion), as sales rose 3.3% to just over £4 billion. The manufacturer delivered 851 engines in the year to 31 December 2007, slightly fewer than the 856 delivered in 2006 a lower number of Trent powerplants was offset by increased deliveries for corporate and regional airframes. International Aero Engines, in which Rolls-Royce is a participant, also secured orders for over 660 engines. The company produced V2500 powerplants for Airbus A320-family jets.
Kenya Airways hit by post-election violence
OPERATIONS Kenya Airways is implementing a number of short-term measures to counter a 15% fall in passenger levels since violence erupted in the country after December's presidential elections, but has stopped short of issuing a profit warning. Chief executive Titus Naikuni says services to London, Amsterdam and Paris, together with Johannesburg and a number of African destinations, have been among the hardest hit. It is also suffering as Mombasa, a key Kenyan business and tourism centre, has been hit by the violence. Cargo business has also been affected.
Saudi entrepreneur eyes Austrian stake
INVESTMENT Saudi Arabian real estate and luxury hotel entrepreneur Sheikh Mohamed bin Issa Al Jaber may invest €150 million ($223 million) for a 30% stake in Austrian Airlines, which would use the cash to support its Middle East expansion. The airline is 50%-owned by Austrian state industrial holding arm OIAG and a syndicate of institutional investors who jointly preserve its bilateral agreements by ensuring it remains under effective Austrian control.
UK defence repair goes to Canada's Vector
Privatisation Vector Aerospace of Canada is to buy the UK government's Defence Aviation and Repair Agency (DARA) rotary wing and components businesses for £17 million ($33.4 million). The deal includes repair facilities at Fleetlands, Portsmouth and component and repair facilities at Almondbank. The facilities support Chinook (CH-47), Lynx, Sea King and other helicopters for the UK Ministry of Defence and other customers. In the UK, Vector's Sigma Aerospace business already supports the Royal Air Force C130K Hercules transport and VC10 tanker fleets.
EDGEWATER cuts WORKFORCE as USAF backs off
Communications Canadian communications technology company Edgewater is temporarily laying off an unspecified number of employees after the US Air Force capped its financial involvement in developing Edgewater's "Extended-1553" technology. Executive vice-president Louis Berube says the company hopes to re-establish the programme with Canadian government support.
Source: Flight International
