Third 787 joined Boeing's flight test program. Aircraft ZA004, the fourth test aircraft built, took off Wednesday at 11:43 a.m. local time from Everett. Boeing said the fourth aircraft was scheduled to fly before ZA003 because the data it is collecting "is needed more quickly both for certification and development of the 787-9." ZA004 flew for 3 hr. 2 min., reached 30,000 ft. and 255 kt. and "operated flawlessly," according to Capt. Heather Ross. ZA004 will be used to test aerodynamics, high-speed performance, propulsion performance, flight loads, community noise and ETOPS.

United Airlines yesterday finalized its order for 25 787-8s worth $4.2 billion at list prices, Boeing announced. The contract includes 50 purchase rights (ATWOnline, Dec. 9, 2009). UA said it expects to take delivery of the 787s, as well as the A350s it also plans to acquire, between 2016 and 2019. It said it expects its Airbus order to be finalized this quarter.

Republic Airways Holdings, fresh off reporting another profitable year with net income of $39.7 million, yesterday placed a firm order for 40 CSeries aircraft valued at $3.06 billion.

Mitsubishi Aircraft Corp. announced that Chairman Takashi Nishioka will retire at the end of the current fiscal year ending March 31. He will be succeeded as chairman by Nobuo Toda.

AerCap Holdings reported net income of $165.2 million for 2009, up 8.8% from $151.8 million in 2008. "We're delighted to report that 2009 is truly behind us," Klaus Heinemann, CEO of the Amsterdam-based operating lessor, told analysts during a conference call. He described it as "an extremely challenging year for the aviation and financial services industry," but noted that AerCap did not need to repossess any aircraft, "which came as a surprise to us." Total revenues declined 21% to $1.0 billion on a 47% drop in sales revenue to $324.8 million.