Southern Air and Malaysia Airlines Cargo signed a multiyear wet-lease agreement for three 747 freighters with crew, maintenance and insurance. MASkargo also has the option to lease up to five aircraft.

Airbus parent EADS reported first-quarter net income of €103 million ($129.7 million), down 39.4% from a €170 million profit in the year-ago period, and said it remains behind on A380 production, a program that "continues to weigh significantly on the underlying performance." CFO Hans Peter Ring admitted, "We are still trying to reduce the amount of outstanding work on the A380." He predicted 20 will be delivered this year, well below the 45 originally slated for 2010.

Boeing announced that it conducted initial engine starts on the first GE GEnx-powered 787 Monday. The aircraft, ZA005, is the fifth 787 off the line. First flight is expected later in the quarter. The first four Dreamliners are powered by Rolls-Royce Trent 1000s.

A nearly new A330-200 operated by Afriqiyah Airways crashed on final approach to Tripoli early Wednesday, killing 103 of the 104 people aboard, including 11 crewmembers. The accident was the deadliest so far in 2010. A boy from the Netherlands reportedly was the lone survivor. The crash occurred as Flight 8U771, en route from Johannesburg, was attempting to land at Tripoli International at about 6 a.m. local time. All but 11 of the passengers were continuing onward to European destinations, according to a statement from the airline.

Embraer announced that LOT Polish Airlines converted orders for four E-175s into the larger E-195 with deliveries scheduled to begin in 2011. Aircraft are part of a follow-on order for a dozen E-175s placed in late 2007 at a time when the carrier already operated six E-170s and four E-175s. Four E-170s from the 2007 order were delivered in 2009 and four more will be delivered this year. LOT holds two options and 10 purchase rights for the E-175 as well. It took its first E-170 in March 2004, becoming the first European airline to operate a member of the E-Jet family.

Airbus COO-Customers John Leahy revealed that an A320 family production rate increase to as many as 38 aircraft per month is being contemplated.

Pilots transitioning to the 747-8 from the 747-400 will feel at home while benefiting from advances in avionics and systems.

Makers of regional aircraft await the recovery in airplane orders but move forward on new and derivative programs.