. ASA Annual Conference www.ASA<strong>2007</strong>.org . . Accommodations: $159 Four Season Hotel 305-358-3535
<strong>AviTrader</strong> WEEKLY AVIATION HEADLINES First 787 vertical fin delivered Boeing celebrated roll out of the first vertical fin for the 787 Dreamliner. Manufactured and assembled at the Composite Manufacturing Center in Frederickson, Wash., the vertical fin is the largest primary structure of the 787 airframe built by an internal Boeing supplier. The delivery meets a key program milestone as the airplane begins final assembly in Everett, Wash., in preparation for its initial roll out in July. HAECO signs joint venture agreement with Air Arabia Hong Kong Aircraft Engineering Company has signed a joint venture agreement with Air Arabia, first lowcost carrier in the Middle East and North Africa, to meet the airline’s engineering and maintenance requirements. The new company will be named HAECO Sharjah Aircraft Maintenance Company Limited (HS- AECO) and will be based in Sharjah. Air Arabia will own 51% of the company while HAECO will own the remaining 49%. As part of the agreement, HAECO will assist in managing the operation of a hangar that is currently under construction at Sharjah Airport, together with setting up of related maintenance, repair and overhaul operations specializing A320s. Sharjah-based Air Arabia, which began operations in October 20<strong>03</strong>, will become the first airline in the Gulf region to go <strong>pub</strong>lic. Air Arabia has been profitable since its second year of operations. P&W wins Martinair contract Pratt & Whitney was awarded a seven-year engine management program agreement by Martinair, a scheduled and charter airline based in Amsterdam, Netherlands. The agreement covers on-wing engine performance monitoring services for Martinair’s fleet of 59 PW4000s. Financial News 29-30 March <strong>2007</strong> Training Seminar MTU Aero Engines’ profit up MTU released that 2006 revenues increased by 11% to 2.4 billion euros. MTU’s adjusted net income increased from 53.1 million euros in 2005 to 121.8 million in 2006. MTU expects sustained growth in <strong>2007</strong> with revenues are targeted to rise by 8% to 2.6 billion. MTU expects that the greatest contributions to this growth will be provided by the commercial engine business and commercial MRO activities. Global Aircraft Solutions acquires stake in GALP Global Aircraft Solutions, an integrated aviation company engaged in aircraft trading, aircraft parts sales, and MRO services for commercial airlines, charter airlines and aviation leasing companies, has acquired a 20% ownership interest in, and entered into an exclusive service agreement with, Global Aircraft Leasing Partners. Transactional Support & Risk Management The Thistle Kensington Park Hotel, London www.everestevents.co.uk Astronic’s sales up 49% Astronic's sales for 2006 increased by 40% to $110.8 million from $74.3 million in 2005. Astronics reported a 2006 net income of $5.7 million compared with $2.2 million for 2005. Aer Lingus profit declines Aer Lingus' operating profit declined in 2006 to 76.0 million euros from 81.4 million euros in 2005. Revenue rose by 11.3% to 1,116 million euros. Vought narrows losses Vought Aircraft Industries reported for the full year 2006 that net sales increased by 20% to $1,550 million. Net loss for 2006 was $36.7 million, compared with a net loss of $229.7 million for 2005. Southwest to repurchase shares Southwest Airlines' Board of Directors authorized a new share repurchase program to acquire up to $300 million of the Company's stock. Other News MTU Aero Engines has increased its stake in GE’s F414 military jet engine, and also secured a stake in the predecessor engine model, the F404. MTU now holds a 3.5% share in the F414 – up from 2.5% before the increase. In addition, MTU has taken a 1.5% share in the F404. Sponsors: 4 March <strong>19</strong>, <strong>2007</strong> / VOL. 88
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