DANISH TIE-UP BOOSTS MAINTENANCE BUSINESS
ACQUISITION Copenhagen-headquartered engines and aircraft maintenance firm DAO Aviation has acquired Danish avionics company Dansk Fly Elektronik for an undisclosed sum. DFE staff will remain with the company.
MILITARY BUDGETS 'LEAVE ROOM FOR GROWTH'
ELECTRONICS In an interim management report, Ultra Electronics says that in its main military markets, the USA and UK, defence budgets remain sufficiently large to give significant headroom for further growth despite downward pressure on budgets, adding that "the re-examination of defence priorities in the UK is bringing some clarity as to where expenditure will be focused". Financial performance remains in line with expectations.
PRIVATE SECTOR BOOST FOR CPI
AEROSTRUCTURES A record third quarter for CPI Aerostructures pushed pre-tax profit up 47% to $5.3 million on revenue up 17% to $36.5 million for the nine months to the end of September. For the quarter, pre-tax profit was up 60% to $2.2 million on revenue up 31% to nearly $13 million. Through the first nine months, CPI's three largest commercial customers - Boeing, Northrop Grumman and Sikorsky - accounted for 31%, 22% and 12% of revenue respectively, with only 23% coming from government prime contract awards compared with 37% during the same period last year.
KAMAN ON A ROLL WITH GLOBAL AEROSYSTEMS
ACQUISITION Bearings and components maker Kaman is to acquire Global Aerosystems of Everett, Washington, a provider of aerostructure engineering design analysis and US Federal Aviation Administration certification services, for an undisclosed sum. Global, an employee-owned firm, is expected to have sales in 2010 of around $20 million. Customers include Boeing and Kawasaki Heavy Industries, Bombardier and the US Department of Defense.
FLYBE SILENT ON REPORTS OF IMMINENT FLOTATION
PUBLIC OFFERING UK-based regional operator Flybe is not commenting on reports that it plans to float on the London Stock Exchange. The airline has looked at going public several times in the past decade but has been frustrated by external market conditions. The biggest shareholders in Flybe are the family of late steel magnate Sir Jack Walker, whose air taxi operation took over the former Jersey European Airways in 1983. The Walker family trust holds 69% of the company, with British Airways having 15% and Flybe staff 16%.
A J WALTER AVIATION PARTNERS WITH GAMECO
SPARES A J Walter Aviation has signed a partnership agreement with Guangzhou Aircraft Maintenance and Engineering to provide loan, exchange, sale, consignment, consumable and repair management services for all in-service Airbus and Boeing aircraft fleets across China. Access to AJW's spares inventories will allow GAMECO to be more competitive in the component support market, says general manager Bill Norman.
BOEING PILOTS LOOK TO UNION MUSCLE
LABOUR Boeing's 32 delivery, ferry and training pilots are in discussions with the Society of Professional Engineering Employees in Aerospace union to bring their Airline Manufacturing Pilots Association into SPEEA as an independent bargaining unit. SPEEA is also to organise Boeing's US field service representatives.
Source: Flight International
