B/E Aerospace record fourth quarter and full year 2007 results

B/E Aerospace reported fourth quarter revenues of $463.5 million reflecting a 44.1% year-over-year organic growth, fourth quarter operating earnings of $67.9 million, 57.9% higher than the fourth quarter of the prior year. Fourth quarter operating margin of 14.6% expanded by 120 basis points versus the fourth quarter of the prior year. B/E Aerospace reported fourth quarter net earnings of $42.3 million, 94.9% higher than net earnings of $21.7 million in the fourth quarter of the prior year.

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AVIC II joins Shanghai Sikorsky

AVIC II, through its subsidiaries Changhe Aircraft Industries Corporation and Shanghai Xinsheng Aviation Industry Investment and Development Company, announced it is joining Shanghai Sikorsky as a shareholder. Shanghai Sikorsky is a civil aerospace joint venture company whose other shareholders are Sikorsky Aircraft Corp. and Shanghai Little Eagle. Sikorsky Aircraft is a subsidiary of United Technologies Corp.

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Jet Aviation acquires Savannah Air Center

The Swiss-based Jet Aviation Group, one of the leading business aviation services companies, has completed the acquisition of U.S.-based maintenance and completions company Savannah Air Center (SAC). All parties agreed that further details about the transaction, including the transaction size, will not be disclosed. Savannah Air Center will be integrated into Jet Aviation’s maintenance and completions organization in the U.S. with locations in Boston/Bedford, Chicago, Palm Beach, St. Louis and Teterboro operated by Midcoast Aviation, a wholly owned subsidiary of the Jet Aviation Group of Companies. SAC will retain its name and will continue to operate with a consistent team Read more

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Goodrich reports net income of $484 million for 2007

Goodrich reported fourth quarter 2007 net income of $132 million on sales of $1,668 million. In the fourth quarter 2006, the company reported net income of $99 million on sales of $1,495 million. Net income in the fourth quarter 2007, compared with the fourth quarter 2006, was positively affected by increased sales and improved operational performance in most business units. The fourth quarter results included pre- tax income of $18.5 million, $11.6 million after-tax related to the resolution of an A380 claim against Northrop Grumman. Net income for the full year 2007 was $484 million including an after-tax loss from Read more

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LAN Airlines reports net income of $100.8 million for 4Q07

LAN Airlines S.A. reported its consolidated financial results for the fourth quarter and full year ended December 31, 2007. LAN reported net income of (US)$100.8 million for the fourth quarter of 2007, a 7.7% increase compared to net income of $93.6 million in the fourth quarter of 2006. Net income for full year 2007 reached $308.3 million, compared to $241.3 million for full year 2006. Excluding extraordinary items recorded in 2006, net income for full year 2007 increased by 44.8%. Continuing with the expansion and renewal of its fleet, LAN received two new Boeing 767-300 passenger aircraft during the fourth Read more

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Northwest Airlines reports fourth quarter net loss of $8 million

Northwest Airlines reported a 2007 pre-tax profit of $764 million before reorganization items, a 154 percent improvement over its 2006 pre-tax income of $301 million before reorganization items. For the fourth quarter 2007, Northwest reported a net loss of $8 million. Results for the fourth quarter include a $14 million pre-tax loss associated with the sale of its remaining equity interest in Pinnacle Airlines. Excluding this item, Northwest

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JetBlue announces 2007 annual profit

JetBlue Airways Corporation reported its results for the fourth quarter and full year 2007. Net loss for the quarter was $4 million com-pared with fourth quarter 2006 net income of $17 million. For the full year 2007, net income totaled $18 million compared with a net loss of $1 million for the full year 2006. Cash and investment securities of $834 million at the end of the fourth quarter, which does not include Lufthansa’s $300 million in-vestment in JetBlue.

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