Spirit AeroSystems increases revolving credit facility to $650 million

Spirit AeroSystems reported the completion of an amendment to its existing credit agreements to increase the Company’s $400 million revolving credit facility to $650 million. The transaction enhances the company’s financial flexibility as it continues to invest in product development and win new business across the aerospace industry. The maturity date and interest cost of the credit facility remains unchanged.

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River Hawk Aviation acquires Carolina Air Charter

River Hawk Aviation released that it has completed an agreement to acquire Carolina Air Charter, Inc. of Charlotte, NC. Carolina Air Charter was established in 1989 to provide quality direct air charter services to meet the special demands of corporate travel. In 2008, Carolina Air Charter is expected to produce in excess of $2,000,000 in revenues from its charter bookings. Carolina Air Charter has an impeccable safety record earned through more than 21,000 hours of charter flight operation serving the needs of approximately 25,000 passengers traveling nearly 3 million miles.

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Premier I added to Delta AirElite fleet

Delta AirElite has added a Beechcraft Premier I to its growing nationwide fleet of modern business jets. The addition of this popular light jet is part of the company’s expansion as demand continues to grow with the success of its attractive Fleet Membership program. The late-model jet will be based in the San Francisco Bay area and will serve AirElite’s growing southwest customer base.

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Alenia Aeronautica completes ultimate load tests on Boeing 787 horizontal stabilizer

Alenia Aeronautica, a Finmeccanica company, has successfully completed the “ultimate load testing” of the Boeing 787 Dreamliner horizontal stabilizer. The test has been carried out at the Laboratory of Structural Tests at Alenia’s Pomigliano plant in Naples in the presence of Boeing engineers. The test is a fundamental step as part of Boeing’s 787 certification efforts, and is key to clearing the Dreamliner for first flight. During the test, the stabilizer is subjected to the aerodynamic loads that could be experienced by the aircraft during flight in the most severe circumstances.

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Avianca takes delivery of first CFM-powered Airbus A320 aircraft

Avianca has taken delivery of the first of 50 CFM56-5B-powered Airbus A320. The airline became CFM’s newest customer in 2007 with a $650 million order for engines to power 47 purchased A319/A320 aircraft, as well as leasing three additional airplanes from CIT Aerospace. Avianca is scheduled to take delivery of its new single-aisle aircraft fleet between 2008 and 2012.

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AAR reports record third quarter results

AAR reported fiscal 2008 third quarter net sales of $376.6 million and income from continuing operations of $20.3 million. Sales grew a robust 39% from $271.0 million in the same period last year, and income from continuing operations increased 31% from $15.5 million in the third quarter of the prior year. Organic sales growth was 25% in the third quarter. For the nine months ended February 29, 2008, net sales grew 31% to $993.2 million, and income from continuing operations increased 28% to $53.4 million.

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Czech Airlines takes delivery of second new Airbus A319

Czech Airlines has received another new Airbus A319. The aircraft arrived from the Airbus aircraft assembly centre in Hamburg, Germany. Czech Airlines will receive four new aircraft of this type from Airbus this year. The Airline has already taken delivery of the first one in February, the third will arrive in April, and the last in September. Czech Airlines chose the Airbus A320/319 aircraft in a tender for new-generation medium-haul aircraft, in 2004. From this tender, Czech Airlines received three aircraft in 2006 and five last year. Also, the Airline has decided to exercise an advantageous option for another eight Read more

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Asian Surface Technologies attains new DCA Malaysia certification

Asian Surface Technologies received a Certificate of Approval from the Ministry of Transportation, Department of Civil Aviation (DCA) of Malaysia. The new certification broadens the Singapore repair stations capabilities to do work for Malaysian customers as being an Approved Maintenance Organization by the Malaysian Civil Aviation Authority as a repair station on PW4000 series fan blades. Asian Surface Technologies Pte Ltd, is a Singapore-based joint venture company between PAS Technologies, SIA Engineering Company, and Pratt & Whitney. The company provides repair and overhaul of aviation components for commercial aircraft as well as high performance surface coatings and finishing for oilfield Read more

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