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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U.S. DoJ closes investigation of pending acquisition of Midwest Air Group

The U.S. Department of Justice (DOJ) has closed its investigation of the pending acquisition of Midwest Air Group by Midwest Air Partners, LLC, an affiliate of TPG Capital. As a result, the parties are able to close the acquisition in compliance with the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The acquisition is expected to close January 31, 2008. As previously announced, the transaction was approved at a special meeting of Midwest shareholders on October 30, 2007. Completion of the acquisition is subject to the satisfaction of customary closing conditions.

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Finnish carrier BLUE1 extends RJ85 lease with BAE Systems

Finnish regional carrier Blue1, which is a member of the SAS Group, has signed a long-term lease extension with BAE Systems Regional Aircraft on one RJ85 (msn E2392). This lease will see the aircraft operating in the Blue1 fleet well into the next decade. This transaction follows a deal announced in October last year under which Blue1 extended leases on four other RJ85s in its fleet. At the same time it was confirmed that two other RJ85s currently operating with Blue1 are being returned to BAE Systems for onward lease to BA CityFlyer from Spring 2008. It is also confirmed Read more

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BAE Systems reports strong market for Jetstream 41

BAE Systems Regional Aircraft confirms that the market for its portfolio Jetstream 41 remains buoyant and that during 2007 a total of 22 transactions were completed, more than double the 2006 total. Previously confirmed transactions included new leases for 11 aircraft with Eastern Airways of the UK – the world’s largest fleet operator of the type – the lease of four aircraft to new Colombian operator EasyFly S.A. and a lease extension for one aircraft with SA Airlink of South Africa. Regional Aircraft announces the following new 2007 transactions: Capital Aviation Holdings has purchased three aircraft (msn 41055, 41058 and Read more

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Boeing begins major assembly of first new 777 Freighter

Boeing mechanics began major assembly of the new 777 Freighter at the company’s Everett, Wash., facility on January 29th. The first 777 Freighter will be delivered to launch customer Air France in the fourth quarter of 2008. “Our vision to develop the 777 Freighter as the world’s most capable twin-engine cargo airplane is now becoming a reality with the start of major assembly,” said Kim Pastega, deputy program manager and engineering leader, 777 Freighter Program. “Our customers and suppliers worked closely with us to reach this important milestone.”

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