MTU secures 15% stake in P&W's next-generation engine programs

MTU Aero Engines has secured a 15% stake each in the new PW810 and the Geared Turbofan engine for the Mitsubishi Regional Jet. MTU CEO Egon Behle announced the deal in Berlin on Tuesday, May 27, the first day of the ILA International Aerospace Exhibition. MTU will be responsible for the development, production and assembly of the Pratt & Whitney Canada PW810’s low-pressure turbine. Additionally MTU will develop and produce the first four stages of the high-pressure compressor. At a thrust of 10,000 pounds (45 kN), the PW810 is targeted at the large business jet market. The launch customer is Read more

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Israel Aerospace Industries reports first quarter 2008 results

In Q1 2008 Israel Aerospace Industries (IAI) recorded a net profit of $40 million (after a provision of $13 million for employee retirement), compared with $44 million in Q1 2007, a 9.1% drop. The Company’s sales in Q1 2008 totaled $1,014 million, compared with $800 million in the corresponding period of last year, a 28% increase. IAI’s backlog totaled $8 billion on March 31, 2008, compared with approximately $7.2 billion in the corresponding quarter of last year, an increase of about 11%.

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Boeing names Elizabeth Lund to lead commercial airplanes product development

Elizabeth Lund has been named vice president of Product Development for Boeing Commercial Airplanes. Lund will be responsible for leading preliminary design of new and derivative airplanes and systems, and environmental performance strategy. Lund also will manage the overall research & development plan across Commercial Airplanes, and support the Product Strategy and Advanced Technology organizations within Commercial Airplanes and Phantom Works. Lund succeeds Todd Zarfos, who was recently named vice president of 747/767/777 Engineering.

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Astronics announces new five-year $60 million credit facility

Astronics Corporation has entered into a five-year $60 million committed revolving credit facility, which will replace its existing $25 million facility. The Company entered into the new credit facility with HSBC Bank USA, National Association, the lead bank, and Bank of America, N.A. and KeyBank as participating lenders. The expanded credit facility is committed through May 13, 2013, with interest at LIBOR plus between 75 and 150 basis points or bank prime minus between 25 and 0 basis points and will be available for general corporate purposes, working capital, letters of credit and acquisition opportunities.

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PW810 engine development program enters high gear

Pratt & Whitney Canada has started detailed design work as well as advanced production preparations for the all-new PW810 engine, just three months after the official launch of its 10,000-pound-thrust-class PW800 engine family. Preliminary design for the PW810, selected by Cessna Aircraft to power its new large-cabin Citation Columbus business aircraft, has been completed. P&WC engineers are now entering into the detail design of various components with collaboration from suppliers and other partners. The company has also started production readiness planning to ensure the engine can be assembled and tested to best meet customer demand. First run of the PW810 Read more

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Air France-KLM report financial year 2007-08

Air France-KLM reported operating income of 1.41 billion euros up 13.3%, income from operating activities rose 3.2% to 1.27 billion euros (versus 1.23 billion euros a year earlier). Excluding exceptional items (cargo provision and proceeds from Amadeus), it would have increased by 23.0%. Pre-tax income of fully integrated companies amounted to 1.15 billion euros. After a tax charge of 358 million euros (248 million euros at 31st March 2007) and a negative contribution of 24 million euros from associates, net income, group share stood at 748 million euros compared with 891 million euros a year earlier, down 16.0%. Excluding exceptional Read more

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Czech Airlines to acquire two new Airbus A319s

Czech Airlines is continuing with its renewal of its aircraft fleet in accordance with its development strategy. As part of this process, the Czech Airlines fleet is undergoing optimisation with the aim of strengthening the position of Czech Airlines as a continental European carrier. Czech Airlines will therefore be acquiring two new Airbus A319s, which it will use mainly for European routes. The first will be incorporated into the fleet in 2009 and the second in 2010. This means that in 2010 the medium-haul fleet will be composed of 18 modern Airbus A320s and 17 Boeing 737s. The new aircraft Read more

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