Spring Airlines signs 15-year OnPoint solution agreement

Chinese low-cost carrier Spring Airlines has signed a 15-year OnPointSM solution agreement with GE Aviation’s Services business for the maintenance and overhaul of the CFM56-5B engines that power the airlines fleet of Airbus A320 aircraft. The agreement, which covers the engines powering the airline’s recently announced fleet of 10 purchased A320 as well as 20 leased aircraft, is valued at more than $200 million of the life of the contract.

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Goodrich Corporation completes acquisition of Skyline Industries

Goodrich Corporation completed the acquisition of Skyline Industries, a leading manufacturer of lightweight crashworthy military helicopter seats and helicopter floor armor. Terms of the acquisition were not disclosed. Skyline employs around 40 people at its Fort Worth, Texas facility. Major customers include the U.S. Department of Defense, Eurocopter, Bell Helicopter and Boeing. The company began operations in 1960, and in 2007 generated approximately $7 million in revenue.

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TAM renews IOSA certificate

TAM Linhas Aereas has had its IOSA certificate (IATA Operational Safety Audit) renewed until January 2010. The certificate is the most thorough and widely accepted international verification of civil aviation operational safety. The IOSA registration revalidation, valid for the next two years, was granted to TAM after the conclusion of the auditing process by independents and accredited technicians by IATA (International Air Transport Association) in November 2007. The IATA audit certified that the company had satisfied standards via 940 questions on safety and operational quality.

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GE reports record fourth-quarter and full-year results for 2007

GE reported fourth-quarter 2007 earnings from continuing operations of $6.8 billion up 15% and 17%, respectively, from fourth-quarter 2006. Fourth-quarter revenues from continuing operations were $48.6 billion, up 18%, increasing 10% organically. Full-year 2007 earnings from continuing operations were $22.5 billion up 16% and 18%, respectively, from 2006. Full-year 2007 revenues from continuing operations were $173 billion, up 14%, increasing 9% organically.

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Snecma Propulsion Solide creates aeronautics and composites division

Snecma Propulsion Solide has made a firm commitment to expanding the use of its composite materials to the aviation sector. Reflecting this new strategic direction, on January 1st the company created an Aeronautics and Composites division, headed by Olivier Le Merrer and reporting to the Chairman and CEO. Snecma Propulsion Solide intends to leverage its expertise in the design and production of composite materials to expand their use on aircraft and win new contracts.

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Lockheed Martin Receives $1.4 billion contract for 17 C-130J Super Hercules aircraft

Lockheed Martin has signed a contract with the Government of Canada valued at $1.4 billion for the purchase of 17 C-130J Super Hercules airlifters and related equipment and services. The Canadian Forces’ new Super Hercules will be the longer fuselage or “stretched” variant of the C-130J, similar to those being delivered to the U.S. Air Force. Deliveries to Canada will begin in 2010. Canada joins the growing number of nations with C-130J fleets. Allied operators include the United States, Australia, Demark, Italy, Norway and the United Kingdom.

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