MTU AERO ENGINES had €97m net loss (GTF fleet management plan had €1b impact) on €5.4b revenues in 2023 vs €333m profit on €5.3b in 2022; commercial maintenance revenues rose 17%. It has €24.4b backlog vs €22.3b a year ago.
ST ENGINEERING had S$586.5m net profit on S$10.1b revenues in 2023 vs S$535m on S$9b in 2022, and ended year with record backlog of S$27.4b (S$7.9b to be delivered in 2024); y-o-y Commercial Aerospace revenues increased 31%.
MTU Aero Engines continues to seek financial compensation from its partner Pratt & Whitney after GTF-related costs led to the German company's first ever loss.
His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, yesterday attended the 11thArab Aviation Summit (AAS).
SAFRAN TURBINE AIRFOILS is being established at Rennes, Brittany to manufacture M88/LEAP turbine blades out of a new 10,000 sq meter facility starting in 2027; it will work closely with Safran's foundry in Gennevilliers, near Paris.
SOUTHWEST AIRLINES established Southwest Airlines Renewable Ventures (SARV) to create more opportunities for obtaining scalable sustainable aviation fuel (SAF). It also announced a $30m investment in LANZAJET (SAF producer).
FAA told Boeing that it must develop a comprehensive action plan (due within 90 days) to address its systemic quality-control issues to meet non-negotiable safety standards; making a foundational change will require sustained effort from leadership, which will be held accountable every step of the way, with mutually understood milestones and expectations.
TRU SIMULATION + TRAINING unveiled Veris VR flight simulator for helicopter and fixed-wing aircraft that combines FFS features with virtual reality technology; it secured Bell Training Academy as launch customer for Bell 505.
AIRBUS and LCI agreed to jointly develop ecosystems for Advanced Air Mobility (AAM), focusing on the development of partnership scenarios and business models in three core AAM areas: strategy, commercialization and financing.
COLLINS AEROSPACE has Saudi Arabia Airlines contract to supply new business/economy seats for installation on 39 new 787s for delivery starting in early 2026 and retrofit on about 77 existing A330s/777s in late 2025-late 2027; deal includes establishment of localized repair capabilities as well as select spares manufacturing capabilities with SAUDIA TECHNIC
The Helicopter Company (THC), Saudi Arabia’s provider of commercial helicopter services, has signed a framework agreement with Airbus for up to 120 helicopters.
