Good week

Aerostar UAV
 © Aeronautics Defense Systems
Aeronautics The Israeli unmanned air vehicle maker sealed a deal with India's Jubilant Bhartia group to create a 26:74 joint venture in Bangalore, India, to make and service military and civilian UAVs. With Israeli defence ministry approval, Aeronautics has already established production facilities in Azerbaijan and Spain. "We build these local facilities in every country that has a potential demand for our products," says president Avi Leumi.

 

Bad week

Olympic Air A320
 © Airbus
Olympic Air The former Olympic Airways is expecting to post a €59 million ($80 million) loss in 2010 as a result of financial woes in Greece. Chief executive Antonis Simigdalas says the airline has been "fairly successful, traffic-wise", but the "unprecedented" state of the Greek economy means it will end the year "a little bit more in the red than we expected". Before Greece's fiscal meltdown, Simigdalas had been expecting to lose €53-54 million.

 

 

Source: Flight International

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