787 HELPS VOUGHT FIGHT HEADWINDS
Aerostructures supplier Vought saw operating profits dip slightly for 2008 to $108.6 million despite a 10.5% rise in sales to nearly $1.8 billion. Reduced non-recurring Boeing 787 expenses, and revenue from the first deliveries for that programme, were offset by costs associated with a strike at its Nashville plant and with higher future pension costs attributed to programmes. Chief executive Elmer Doty described the year as one of growth "despite pressure from recent headwinds".
UAV MAKER BOOSTS BAE SYSTEMS
BAE Systems is to strengthen its presence in the unmanned air vehicle sector by acquiring privatelyowned Advanced Ceramics Research of Tucson, Arizona for $14.7 million cash, subject to regulatory approval. ACR, which makes the Coyote, Manta and Silver Fox UAVs, plus ceramic materials for the military and commercial aerospace sectors, employs 60 people.
TRIUMPH SIGNS TWO MORE ACQUISITIONS
Triumph Group of Wayne, Pennsylvania has agreed in separate deals to acquire, for undisclosed sums, aircraft structural components maker Merritt Tool Company of Kilgore, Texas and Saygrove Defence & Aerospace Group of Buckley, UK, which makes flight actuation and motor control components for all-electric and unmanned aircraft. Triumph expects this month to close its acquisition of the aviation segment of Kongsberg Automotive.
SIGNS ARE MIXED AT ZODIAC
French equipment supplier Zodiac Aerospace says growth will still be strong, but it has downgraded its full-year earnings forecast by about 5%, to about €290 million ($378 million). During the six months to the end of February, turnover rose 12.7% to €1.1 billion, fuelled by more favourable dollar-euro exchange rates and consolidation of acquired companies.
WEAK ECONOMY HAMMERS PREMIUM TRAFFIC
Business and premium travel volume continues to plummet despite airlines cutting fares in a bid to stop customers downgrading to economy. International Air Transport Association figures show customers travelling on first and business class tickets in January fell 16.7% year-on-year, following December's 13.3% drop.
KD-AVIA RESCUED AFTER GOVERNMENT INTERVENES
Struggling Kaliningrad-based carrier KD-Avia says cost-cutting measures and Russian government help have cleared the way for "new [financial] arrangements" that have "stabilised" the carrier and allowed resumption of normal service. Leasing companies had placed restrictions on KD-Avia's fleet of about 16 Boeing 737s.
EAST STAR GROUNDED AFTER FAILING TO PAY GECAS
China's civil aviation authority has grounded privatelyowned, Wuhan-based East Star Airlines after it failed to pay money owed to lessor GE Commercial Aviation Services. Separately, chairman Lan Shili has been missing since 13 March and may be in custody.
AERO INVENTORY STRONGLY UP ON HALF YEAR
UK spares specialist Aero Inventory posted a 46% rise in half-year pre-tax profits to $33 million on revenue up 55% to $256 million, reflecting a supply deal with maintenance firm Aveos. However, contract talks with a major airline have fallen through.
Source: Flight International
