The next 30 days or so will be critical to the future of Airbus and its EADS parent company as top executives struggle to push through the core elements of the European airframer’s Power8 restructuring plan.
News and issues concerning aerospace companies, including formations, acquisitions, mergers and financials; and announcements of significant aircraft sales, delivery statistics and personnel appointments.
Hawker Beechcraft Corp. is here for the first time in its new form, since Onex Partners and GS Capital Partners acquired the company from Raytheon. On the static display, it is exhibiting several business aircraft, including three jets–a Hawker 4000, a Hawker 850XP and a Beechcraft Premier IA–and a Beechcraft King Air 350ER turboprop.
Esterline Corporation’s $335 million acquisition of Canada’s CMC Aerospace three months ago has in no small part played a role in the company’s record stock performance of late, and for good reason, according to Esterline CEO Bob Cremin.
In a world where many marriages barely last a year and political alliances often don’t survive the night, a successful business relationship of 30 years is at the very least remarkable.
In a nod to increasing concerns about the environmental impact of aircraft, CFM International has successfully tested one of its engines fueled by a mix of biofuel and normal Jet-A1 kerosene.The company said the target is for a 20-percent reduction in carbon dioxide emissions.
Some three weeks after closing negotiations to buy defense logistics contractor Dimensions International, Honeywell Defense and Space president Ed Wheeler prepared to travel to Paris “feeling good” about the company’s position, notwithstanding the tumultuous political environment in the U.S. “We don’t expect to see great upsets in budgets and whatnot, certainly not as long as troops are in harm’s way,” Wheeler said.
In Dubai, the temperature never gets anywhere close to freezing but that hasn’t stopped the Arabian Gulf state from building an artificial ski slope. As the emirate has sought to re-invent itself as a center for tourism and commerce to ensure its economic future as oil revenues dwindle, projects like this have earned it a reputation for money-no-object spending. So why shouldn’t it add an aerospace industry to its wish list?
Does the recent sale of its Inertial Products business signal a round of sell-offs by BAE Systems? A statement accompanying the move noted that the company’s strategy is to expand as a developer and integrator of systems and “de-emphasize its role as a components provider.”
A sustained program of corporate integration and investment in manufacturing and customer support is giving Meggitt greater focus and a more strategic position in the aerospace and defense markets. The UK-based group has long had a reputation for market-leading technology, but has arguably not fully exploited the synergies among its diverse product groups.
Britain’s GKN Aerospace has signaled its intention to bid for stakes in one or more of the Airbus factories now being put up for acquisition or partnership under the troubled European airframer’s Power8 restructuring plan. The strategic acquisition could play a key part in GKN’s ambition to more than double its annual revenues to reach $4.2 billion by 2016.