Aircraft Deliveries Give B/E Interior Edge In Q1
Aircraft interiors maker B/E Aerospace rode the strong trend in deliveries to a record first quarter, with pre-tax profits rising nearly 63% to $74.6 million on revenue up 22% to $473.2 million. Business jets led growth, with sales up 64.9% to $72.7 million. B/E's largest segment, seating, was up 4.5% to $150.9 million. The fasteners distribution business gained more than a quarter, to $122 million. Chief executive Amin Khoury said: "We believe robust market conditions will continue to drive demand from global airlines for our cabin interior products for several years for both aftermarket retrofit programmes and new aircraft deliveries."
Customer Finance Boost For Superjet
Sales of Sukhoi's Superjet100 regional airliner look set for a boost from a customer funding package being put together by export support agencies in Russia, France and Italy. Agreement between Russia's Vnesheconombank, COFACE of France and SACE of Italy "became possible thanks to a uniquely high - for a Russian manufacturer - degree of international industrial co-operation achieved in the cause of SSJ100 project development", said Sukhoi general director Mikhail Pogosyan. The first customer expected to benefit is Aeroflot, which signed for 30 SSJ100s in December 2005. Funding has not yet been structured, but the carrier has made prepayments totalling less than 7% of the deal value.
Goodrich Increases Full-Year Forecast
Goodrich raised its full-year profits and revenue forecast as first-quarter sales jumped 13% year-on-year to $1.75 billion, with net profits up 58% to $158 million. Chief executive Marshall Larsen put the sales outlook at between $7.2 billion and $7.3 billion - up from $7.1 billion to $7.2 billion - and said aftermarket sales should grow even as US carriers move to cut capacity. Separately, Pratt & Whitney selected Goodrich as exclusive nacelle systems provider for its geared turbofan engine, which will power the Mitsubishi Regional Jet and Bombardier's proposed CSeries.
Spirit Slashes 2008 Sales Outlook
Spirit AeroSystems posted a 9% increase in revenue and a 22% jump in net income for the first quarter, but delivery delays for the Boeing 787 programme forced it to reduce its 2008 sales guidance by $400 million, to $4.4 billion. Even at the lower figure, the company is still projecting a 15% increase in full-year sales. In the quarter, Spirit offset the 787 delay by increasing deliveries for Airbus and Boeing narrowbodies.
Aloha Bankruptcy Hits Lessor's Q1 Profit
Fall-out from Aloha Airlines' Chapter 11 bankruptcy filing is being felt by Irish lessor Genesis Lease, which saw its first-quarter net income dip to $9.9 million from the $11 million profit it posted during the same period in 2007, resulting almost entirely from a pre-tax charge of $1.8 million relating to the termination of two Boeing 737-700 leases with Aloha. Revenue for the period was up 30% to $54.7 million. Chief executive John McMahon said he was confident the aircraft would be re-leased at "attractive lease rates".
PAS And Doncasters In Machined Parts Deal
Kansas City, Missouri-based PAS Technologies has won a two-year contract to supply coating and brazing support to Doncasters Shrewsbury, from its facility in Cork, Ireland. Doncasters makes machined components, including turbine blades and vanes.
Source: Flight International
