Continental Airlines reports full year 2007 pre-tax income of $566 million

Continental Airlines reported 2007 pre-tax income (net income before income taxes and cumulative effect of change in accounting principle) of $566 million, up 53 % over 2006 pre-tax income of $369 million. Excluding $24 million of previously announced pre-tax special items, Continental’s pre-tax income for the full year was $542 million, a 78 % improvement over 2006 pre-tax income of $304 million excluding special items. Continental reported pre-tax income of $71 million for the fourth quarter 2007. Excluding previously announced pre-tax special items, Continental recorded fourth quarter 2007 pre-tax income of $24 million compared to the fourth quarter 2006 pre-tax Read more

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Qantas says B787 delay has no impact on Group earnings

Qantas said that the three-month delay of the 787 Dreamliner announced by Boeing would now see Jetstar not take delivery of its first B787 before May 2009. The Chief Executive Officer of Qantas, Mr Geoff Dixon, said that while the delay would affect Jetstar’s international expansion in the short term, there would be no effect on the Qantas Group’s overall growth strategy and no impact on Qantas Group earnings. He said Qantas would finalise its contingency plans to mitigate against the delay once a revised delivery schedule was received from Boeing, which was expected within the next few weeks. He Read more

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Spirit AeroSystems assessing impact of 787 schedule shift

Spirit AeroSystems will continue to work with Boeing to assess the 787 program schedule. Spirit President and CEO Jeff Turner said, “Although the additional delays in first flight and first delivery are disappointing for all of us, I continue to be pleased with Spirit’s overall performance on the program. Specifically, our structures’ design/build efforts are progressing well as we continue to work with our supply chain to meet program ramp-up requirements. Our major focus areas continue to be accommodating engineering changes and timely receipt of systems and wiring for installation.” As a result of the program’s schedule revisions, Spirit delivered Read more

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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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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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LOT Polish Airlines adds 12 more Embraer 175 jets

LOT Polish Airlines has signed a firm order with Embraer for an additional 12 EMBRAER 175 jets, plus two options and ten purchase rights. The total value of the agreement is $ 372 million, based on January 2007 economic conditions, and could come to $ 744 million, if all options and purchase rights are confirmed. This deal is already included in Embraer

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