BOEING STRIKE HITS COMPOSITES MAKER
Composite materials maker Hexcel has reduced production volumes on certain aero structures and composite materials produced in its US facilities and is withdrawing earnings guidance for the year in response to the International Association of Machinists strike against Boeing that has stopped assembly work on 787 and other models. Hexcel chief executive David Berges says: "Start-up costs for new facilities and inflationary pressures continue to present challenges, but the added disruption caused by the strike at Boeing leaves us little choice but to withdraw our 2008 earnings guidance. We continue to believe the long-term outlook for composite materials in aerospace and wind power is compelling."
PANASONIC TEAMS UP FOR IFE INNOVATION
A marketplace targeted at in-flight entertainment and communication system business-to-business developers is being launched by Panasonic Avionics and AirPlay software firm CoKinetic Systems. The so-called AirPlay marketplace will provide easy access to Panasonic system features, enabling developers to focus on applications. "It creates a model where little ideas can play as much as big ideas", says CoKinetic chief executive Kris Stevens.
NEW OLYMPIC TO BE DRASTICALLY SCALED DOWN
Greece hopes by the end of this year to select a new private investor to operate its planned successor to Olympic Airlines and to conclude the privatisation by spring 2009. A Greek commitment to hold the successor to no more than 65% of the current operation's size has won European Commission approval for its re-launch plan which will see a new company called Pantheon acquire the prime assets of Olympic Airlines - chiefly the name, logo and slots - and carry out flight operations. Two further companies will acquire the ground handling and aircraft maintenance assets.
LUFTHANSA COULD PAY €250M FOR BRUSSELS
Germany's Lufthansa could pay up to €250 million ($355 million) for Brussels Airlines. Lufthansa will acquire a 45% initial stake in Brussels' parent, SN Airholding, and hold an option to buy the remaining 55% from 2011. The price for this outstanding share will be based on performance. The Belgian carrier will retain its brand, and headquarters and management in Brussels.
VOLVO SIGNS INVENTORY PACT WITH EMBRAER
Volvo Aero Services is to provide Embraer with various inventory services including evaluation, management, marketing and sales support, and distribution of new surplus material for models including the EMB-110, EMB-120 and ERJ-145, and E-Jet families.
Source: Flight International
