EADS H1 2008 results reflect continuing strong underlying performance

EADS continued its robust underlying performance in the first half of 2008 and achieved significant efficiency improvements across all Divisions despite programme challenges the Group is still facing. Within an uncertain macro-economic environment EADS registered a remarkable order intake reflecting the quality of its commercial and defence product portfolio. The Group confirms its full-year 2008 EBIT guidance of EUR 1.8 billion in spite of an A380 charge. Revenues increased by 8% to EUR 19.7 billion (H1 2007: EUR 18.4 billion) reflecting growth across all five Divisions despite a negative US dollar headwind. Higher Airbus deliveries (245 units, including four A380s, Read more

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SAFRAN releases its first-half 2008 results

SAFRAN released its results for the six months ended June 30, 2008. SAFRAN reported revenues of EURO 5,057 million, up 2.8% on first-half 2007, or 14.8% like-for-like (based on a constant group structure and exchange rates). Profit from operations was EURO 474 million. Profit from recurring operations totaled EURO 328 million (versus EURO 381 million in first-half 2007 excluding communications and EURO 311 million including communications), representing 6.5% of revenue including a EURO 355 million negative currency impact The gain arising on the transfer of Monetel business to Ing

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Hawaiian Holdings reports second quarter net income of $54.3 million

Hawaiian Holdings reported a consolidated net income for the three months ended June 30, 2008 of $54.3 million on total operating revenue of $319.2 million. This compares to a net loss of $3.9 million for the three months ended June 30, 2007. The 2008 net income includes a litigation settlement of $52.5 million before tax, related to the Company’s settlement of its lawsuit with Mesa Air Group. Excluding this recovery, for the three months ended June 30, 2008, the Company would have reported a net income of $1.8 million.

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Genesis Lease Limited announces second quarter 2008 results

For the quarter ended June 30, 2008, Genesis Lease Limited reported net income was $9.0 million. During the quarter, two B737-700 aircraft in Genesis’s portfolio were returned from Aloha Airlines, as a result of the airline’s bankruptcy. The pre-tax impact of the early termination of the Aloha leases was $1.4 million, consisting of $2.5 million relating to a reduction in rental revenue and a charge to maintenance costs in preparation for re-lease of these aircraft, offset by the recognition of $1.1 million of security deposits during the quarter. Adjusting for this impact, net income would have been $10.2 million, compared Read more

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Spirit AeroSystems raises full-year 2008 EPS guidance

Spirit AeroSystems Holdings reported second quarter 2008 financial results reflecting revenue and earnings growth across the company as ship set deliveries for large commercial aircraft increased and lower period expenses were realized. Spirit’s second quarter 2008 revenues increased to $1.1 billion, up 11% from the same period last year. Operating income increased 33%t to $136 million, up from $102 million in the same period a year ago as revenues increased and research and development costs and SG&A expenses declined. Net income was $86 million, or $0.62 per fully diluted share, up 27% from $68 million, or $0.49 per fully diluted Read more

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ANA reports profitable start to fiscal year 2008

ANA Group reported consolidated revenue of 345.5 billion yen and operating income of 14.6 billion yen for the first quarter of fiscal year 2008, ended June 30, a drop of 1.2% and increase of 10.5% respectively. Net income decreased 92.4% year-on-year to 6.6 billion yen, accounted for by an extraordinary gain on the sale of ANA’s hotel properties in June 2007 which boosted the net income reported in the first quarter of the previous year far beyond normal levels. Within the airline segment, a 1.5 billion yen year-on-year increase was reported overall, in spite of increasingly severe competition with other Read more

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Lufthansa increases operating result in 1st half-year 2008

In the first half-year 2008 the Lufthansa Group reported revenue of EUR 12.1 billion (previous year: EUR 10.1 billion) and increased the operating result by EUR 219 million to EUR 705 million. This reflects the altogether stable operating performance and an earnings contribution of EUR 157 million from the fully consolidated SWISS. Net profit for the period came to EUR 402 million. Last year’s figure of EUR 992 million included book gains from the sale of the Thomas Cook stake (EUR 503m) and the share buy-back by WAM Acquisition S.A. (EUR 71million). The Executive Board continues to expect that for Read more

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B/E Aerospace second quarter results exceed expectations

B/E Aerospace second quarter operating earnings of $84.3 million increased by 41.7% as compared with the second quarter of the prior year. Second quarter operating margin of 16.1% expanded by 120 basis points compared to the second quarter of the prior year. second quarter net earnings of $53.9 million increased by 89.8% as compared with the second quarter of the prior year. Second quarter net earnings per diluted share of $0.59 increased by 90.3%. Record bookings for the quarter totaled approximately $610 million representing a book-to-bill ratio of approximately 1.2:1. Backlog as of June 30, 2008 was a record at Read more

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