Embraer reported 2008 net income of $388.7 million, a 21% drop from $489.3 million the previous year, citing losses on currency hedges as the value of the real fell and sagging sales owing to the global economic downturn. Full-year revenue rose 20.8% to $6.33 billion. Fourth-quarter profit plunged 44% to $111.6 million from $200.9 million a year ago and revenue for the quarter was down 3% to $1.81 billion.

While it still is completing evaluations of three recently conducted biofuel test flights, Boeing already has drawn enough conclusions to state that it is "very confident. . .high quality jet fuel" can be composed of plant-derived oils, a company official told US lawmakers last week.

Pratt & Whitney announced yesterday that its PW4000-100 engine with the Advantage 70 upgrade completed its first test flight aboard an Air Comet A330-200 in Toulouse. The test program will continue through early April. The PW4000-100 is designed to deliver 70,000 lb. thrust for the A330 and will enter revenue service on the Air Comet -200 and an Air Caraibes A330-300 in the summer. Advantage 70 offers a 1% reduction in fuel consumption and increased durability, Pratt said.

Pratt & Whitney Canada expects turboprops to increase in popularity despite the industry downturn and is well positioned to work with Bombardier on the stretched version of its Q400, according to Senior Manager-Marketing Communications Pierre Boisseau.

Turkish Airlines informed the Istanbul stock exchange yesterday that it will purchase five 777-300s. In a statement on its website, the carrier said the aircraft will "be delivered each month starting October 2010 until February 2011." It currently operates three leased 777-300s and has been hinting that it is on the verge of making a big long-haul order (ATWOnline, Jan. 14).

GE Aviation said its GEnx-2B engine began flight testing this week. About 40 flights with the engine are planned for this spring and summer.

Chongqing Airlines took delivery of the first of three 122-seat A319s on lease from ILFC, Airbus announced. A joint venture between China Southern Airlines and Chongqing International Invest, the carrier currently operates four A320s and will take delivery of the remaining two A319s this spring.

International Aero Engines announced the delivery of the first set of V2500s to Airbus's A320 final assembly line in Tianjin. The V2500 will be installed on nine of the first 10 aircraft assembled there, including the first plane scheduled for delivery to Sichuan Airlines this summer (ATWOnline, Sept. 30, 2008).