787 AND BUSINESS JET WOES HIT GKN
Boeing 787 programme delays and falling Hawker business jet production have taken a toll on GKN in the UK, where it is cutting 35 of 312 jobs at its Luton transparencies plant, where products include 787 leading edge protection and Hawker 4000 windscreens. GKN is also to close its Burnley plant, which makes out-of-production engine spares, with the loss of 56 jobs. Overall, GKN is cutting 560 jobs, mostly in its automotive parts unit.
HAWKER BEECHCRAFT MAKES OPERATING PROFIT
Hawker Beechcraft made an operating profit of $135.5 million - but lost $139.9 million after taxes - on $3.5 billion sales in 2008. During the 12 months, its first full-year period since it was spun out of Raytheon in 2007, the Wichita-based company delivered 441 business and general aviation aircraft, including 160 business jets, 178 turboprops and 103 piston aircraft. Sales were hit by a four-week strike by machinists in August. The company also builds T-6A turboprop trainers for the US Air Force and Navy.
AIR TRAFFIC UPGRADES SURVIVE IN STIMULUS BILL
The $787 billion stimulus plan aimed at kick-starting the ailing US economy includes $200 million for air traffic control improvements, including updates and upgrades to Federal Aviation Administration power systems, en-route ATC centres, ATC towers and Tracons, and airport lighting, navigation and landing equipment.
SAFRAN DOWN ON CURRENCY, PROGRAMME DELAYS
Operating profit in Safran's aerospace propulsion unit, which includes its half of its CFM International engines joint venture with General Electric, fell 8% last year to €584 million ($733 million) as revenue dipped 2% to €5.8 billion, partly owing to currency effects. Aircraft equipment sales rose 6% to €2.86 billion, but Airbus and Boeing programme delays pushed profit down 46% to €60 million.
EC CLEARS ROLLS-ROYCE VENTURE WITH MUBADALA
European competition regulators have approved a proposed North Africa and Middle East aeroengine maintenance, repair and overhaul services joint venture between Rolls-Royce and United Arab Emirates-based investment fund Mubadala, which owns Abu Dhabi Aircraft Technologies.
NEW PW1000G PLANT ON TRACK DESPITE LAYOFFS
Pratt & Whitney Canada has confirmed it will see through plans to build a new facility at Mirabel, Canada to build the PW1000G for the Bombardier CSeries and the PW800 for the Cessna Columbus midsize business jet despite plans to shed 10% of its global workforce - about 1,000 jobs - and slash overall planned 2009 engine production by 20% to 4,000 units.
SAAB HITS TURBULENCE
Saab racked up a SKr406 million ($46 million) pre-tax loss for 2008 after earning nearly SKr2.5 billion the year before, despite a 3% rise in sales to almost SKr23.8 billion. Highlights of the year included the sale to Thailand of six Gripen fighters and two Saab 340s. The company expects flat sales in 2009.
ETHIOPIAN TO SPIN OFF SUPPORT DIVISIONS
Ethiopian Airlines is revamping its training, maintenance, ground operations and catering as independent subsidiaries to boost third-party work and open the way for future equity partners.
Source: Flight International
