AviTrader WEEKLY AVIATION HEADLINES

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AviTrader WEEKLY AVIATION HEADLINES Financial News ACG raises money Aviation Capital Group has announced that it completed a private debt offering of $270 million of senior unsecured notes. The notes were sold in a private placement to various institutional investors. Merrill Lynch & Co. and Calyon Securities were the joint lead placement agents, and HSH N Financial Securities LLC was the co-agent for the offering. Aviation Capital Group intends to use the net proceeds of the offering to refinance existing secured debt and pre-fund future aircraft purchases. Air China profit triples Air China reported for the six months ending June 30, 2007 that the airline increased its revenues by 17.2% to RMB23,353 million. Net profit increased to RMB1,569 million from RMB458 during last year. GE acquires Walter Engines General Electric has signed a definitive agreement to purchase the assets of Walter Engines based in Prague, the Czech Republic. The transaction, terms of which were not disclosed, will be completed upon receipt of various regulatory approvals and customary closing conditions. Walter Engines entered the aviation business in 1923 and has produced more than 37,000 engines. The Walter M601 turboprop engine family has more than 1,500 engines in service on more than 30 aircraft types. In addition to manufacturing and overhauling turboprop engines, Walter Engines also manufactures high precision machined parts for the aviation industry with customers worldwide. Walter employs 520 employees in the Czech Republic. ExelTech’s revenues up ExelTech said that revenues for the quarter ended June 30, 2007 increased to C$13.7 million from C$11.1 million for the quarter ended June 30, 2006, an increase of 24%. This increase was principally driven by continued growth in the Company's Bombardier CRJ regional jet maintenance and increased demand from ATR 42 and Dash 8 regional turboprop operators. The Company recorded earnings before tax of C$0.1 million in the first quarter, compared with C$0.6 million in the first quarter of Fiscal 2007. Bombardier reports loss Bombardier released that its consolidated revenues totaled C$4 billion for the second quarter ended July 31, 2007, compared to C$3.5 billion for the same period last year. A special charge of C$162 million for the write-off of the carrying value of the investment in Metronet resulted to a second quarter net loss of $71 million compared to a net income of $58 million in the previous year. Bombardier Aerospace's backlog has grown by 38% since the start of this fiscal year, reaching a historically high RESOLVE. THE THREE-LEGGED STOOL … At ExelTech Aerospace, our commitment is to surpass customers’ expectations. Supported by a focused “three-legged stool” business approach that drives our productivity, we deliver on promised turn times, and ensure high quality maintenance solutions at lower costs. ExelTech’s track record speaks for itself: at our maintenance facilities in Montreal and Quebec City we have successfully reduced turn times by 30% or more and built a legacy of proven excellence by listening to customers and responding to their needs. We offer back shop capabilities, 24/7 line and heavy maintenance and field support for operators of Regional Jets, Turboprops and Boeing narrowbody aircraft. We have a “Can-Do” approach that delivers timely quality results. We keep costs in line, we listen. ExelTech customers keep coming back. Come in and see what our RESOLVE can do for your aircraft. At ExelTech Aerospace… For more information about our products and services, contact our sales department: 514-631-8999 ext: 5114 or visit us online at: www.exeltech-aerospace.com PEOPLE Aviall named Terry Scott as Vice President, Sales and Marketing. NetJets Aviation named Gary E. Hart as Senior Vice President of Flight Operations. SAS Group has appointed Björn Alegren as new President of its subsidiary SAS Ground Services. Inventory Navigation appointed Craig Hackendahl as President/ CEO. Delta Air Lines announced the resignation of Chief Operating Officer, Jim Whitehurst. Global Aero Logistics, the parent company of ATA Airlines, World Airways and North American Airlines announced several senior executive appointments following its acquisition of World Air Holdings. Under the new structure, reporting to President and Chief Executive Officer Subodh Karnik, will be the following company officers: Rob Binns, Chief Marketing Officer; Gary Ellmer, Chief Operating Officer of ATA Airlines; Josef Loew, Chief Strategy Officer; Michael Towe, interim Chief Financial Officer; Charlie McDonald, Chief Operating Officer of World Airways; Mark McMillin, General Counsel; Dick Meyer, Senior Vice President, Human Resources Policy; Jeff Wehrenberg, Chief Operating Officer of North American Airlines; and Doug Yakola, Chief Integration Officer. 5 September 3, 2007 / VOL. 108
AviTrader WEEKLY AVIATION HEADLINES period in 2006. Accumulated sales in the first half of 2007 increased 23% to $1.6 billion compared to 2006 six month sales of $1.3 billion. As of June 30, 2007, IAI's backlog reached a record $7.2 billion. (Continued from page 5) material covering sixteen F135 en- level of C$18.2 billion. Similarly, net orders for the second quarter more than doubled compared to the corresponding period last fiscal year, with 187 aircraft versus 77. Bombardier Aerospace received 84 net orders for regional aircraft in the second quarter, including 54 orders for regional jets, compared to nine regional aircraft during the same period last fiscal year. Bombardier Aerospace decided to increase production of CRJ700 and CRJ900 regional jets from a rate of one aircraft every five days to a rate of one aircraft every four days. Bombardier Aerospace expects to produce approximately 50 CRJ700 and CRJ900 aircraft during this fiscal year and approximately 57 regional jets during fiscal year 2009. 62% improved profit for Safran Safran released that its net income increase by 62% to 215 million euros. Revenues increased moderately by 4.7% to 5.7 billion euro. HEICO’s profit up by 32% HEICO reported that net income increased 32% to $10.9 million for the third quarter of fiscal 2007, up from $8.3 million for the third quarter of fiscal 2006. TAT Technologies reports profit TAT Technologies reported net income of $1.9 million on revenues of $23.1 million for the three months ended June 30, 2007 compared to net income of $1.5 million on revenues of $18.4 million for the three months ended June 30, 2006. IAI’s order backlog increases Israel Aerospace Industries' net profit in the first six months of 2007 increased 47% to $71 million compared to $48 million during the same Labour agreement for North American Airlines North American Airlines has reached a tentative agreement on an initial 54-month contract with its pilots, represented by the International Brotherhood of Teamsters. The tentative agreement, subject to ratification by the North American pilots, will take effect upon the date of signing. OTHER NEWS DHL reported the opening of a new facility at the Baltimore/Washington International. DHL's previous operations at the airport have been enhanced with the opening of a new, $1.6 million on-airport facility serving Baltimore and surrounding areas. Czech Airlines won a tender to provide handling services for the flights of Lufthansa in Prague. From November, CSA will provide all of the standard handling services to the German carrier, such as passenger handling as well as the handling of the aircraft on the ramp. The contract will be signed for a three-year period. Virgin America, the new U.S. startup airline, has inked deals with TV JAPAN, Venevision International, KBS-America, TVB and Emphasis (Hong Kong) to supply inflight programming in Japanese, Spanish, Korean, Mandarin and Cantonese. Pratt & Whitney was awarded a $60 million production contract for F135 engines to power the F-35 Lightning II. This contract is for long lead-time gines supporting twelve production F-35 aircraft for Low Rate Initial Production 2. LRIP 2 includes six conventional take-off and landing engines, six short-takeoff/verticallanding propulsion systems and two spares per variant. Hawaiian Airlines expects to begin service between Honolulu and Manila in the Philippines in March 2008, pending U.S. Department of Transportation approval. Northrop Grumman announced the achievement of more than 6,000 onaircraft operational hours for the Guardian Counter-Man Portable Air Defense System currently installed on seven wide-body cargo aircraft flying daily in commercial revenue service. The Guardian system is a defensive aid utilizing military technology to defend against the commercial aviation threat posed by antiaircraft, shoulder-fired missiles. Once launched, the missile is detected by the Guardian system, which then directs a non-visible, eye-safe laser to the seeker of the incoming missile, disrupting its guidance signals, and protecting the aircraft. Honeywell will provide logistics service and depot maintenance support for the B-2 Spirit stealth bomber and C-130 Hercules aircraft at Hill Air Force Base. All business class airline MAXjet will commence flights between Los Angeles and London Stansted. The Tunisian charter airline Nouvelair will be using the navigation charts from Lufthansa Systems on its flights. A five-year contract to this effect was signed recently. Virgin America will launch service between New York's John F. Kennedy and Los Angeles International airports. 6 September 3, 2007 / VOL. 108
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