MD-11 Boeing Converted Freighters to support Aeroflot Cargo growth plan

Boeing is providing three leased MD-11 Boeing Converted Freighters (BCFs) to Aeroflot Cargo. The companies joined in celebrating the freighters’ recent entry into service at a ceremony marking Aeroflot Cargo’s new fleet and the resulting operational improvements at the carrier’s facility at Frankfurt-Hahn airport. Boeing Capital Corporation, the company’s aircraft financing arm, structured the deal and Boeing conducted the modification work at subcontractor facilities in Europe. Aeroflot Cargo, which operates four DC-10 freighters, is leasing the three MD-11BCFs on a multi-year basis.

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United Airlines reaches agreement in principle to enhance liquidity

UAL Corporation reported that it reached an agreement in principle with its Mileage Plus co-branded bank card partner, Chase Bank U.S.A., N.A. (“Chase”), and Paymentech, one of its credit card processors, to extend the term of their respective agreements. As part of the transaction, United will receive a payment of $600 million from Chase, which relates to the advance purchase of frequent flyer miles and the extension of the contract. The company also expects this transaction will improve cash flow by about $200 million in the next two years.

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Boeing reports second-quarter financial results, reaffirms guidance

The Boeing Company’s second-quarter earnings per share decreased 14% to $1.16 per share, on revenue of $17.0 billion and an operating margin of 7.4%. Results were affected by the previously disclosed charge for the Airborne Early Warning & Control (AEW&C) program and lower profitability due to mix and timing in Commercial Airplanes, partially offset by lower centralized costs. For the first half of 2008, revenue grew 2% to $33.0 billion, operating margin grew to 9.2%, net income rose 7% to $2.1 billion, and earnings per share increased 13% to $2.79 per share, despite the AEW&C charge. Results reflected good performance Read more

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Satyam and Infospectrum partner to enhance MRO services for aviation companies

Satyam Computer Services, a leading global consulting and information technology services provider, has signed an agreement with Infospectrum to provide enhanced service to operators, third-party maintenance, repair and overhaul (MRO) and component repair providers in the global aviation industry. Headquartered in Los Angeles, Infospectrum provides custom and packaged software to global customers in the aviation, aerospace and defense, complex manufacturing, maritime and telecommunications industries.

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