Good Week

Spirit Aerosystems.
The aerospace company's shares have soared since it completed a $1.43 billion initial public offering (IPO) on the New York Stock Exchange, gaining 12% in the first day of trading and reaching $29 per share. The 55 million shares sold in the initial public offering were priced higher than their forecast range of $23-25, at $26. Spirit AeroSystems made gross proceeds of $271 million from the 10.4 million shares it sold as part of the deal.

 

Ryanair.
The airline's plans to take over Aer Lingus have suffered a major blow, after Aer Lingus employees voted overwhelmingly against accepting the bid. Ninety seven per cent of a 70% turnout voted against the takeover. The deadline for shareholder acceptance of the bid has been extended to 4 December, but Ryanair is struggling to win acceptance from this quarter. Ryanair chief executive Michael O'Leary has said the bid is unlikely to succeed if employees vote against it.

Bad week

“This year the UK will produce 24,000 engineering graduates, compared with China’s 300,000 and India’s 450,000.”

Airbus UK managing director iain gray, speaking at the Society of british Aerospace companies’ annual dinner on the UK’s dearth of fresh talent

 

Biotti

Source: Flight International

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