EADS reported a huge plunge in its full year profits and revenues for the year 2012 as sales were driven by increased deliveries at its Airbus division. However, fourth quarter profits for the fiscal year 2012 dropped as EADS paid hefty restructuring charges and faced bad merger deals. Also, the company stated that it would not use raffish lithium-ion batteries in its oncoming Airbus A350 plane due to recent Dreamliner problems.
Not surprisingly, the US Department of Defense has informed that the dominance of Blackberry is over as it plans to open its networks to devices from Apple Inc., Google Inc. and other producers. A new “more agnostic” IT strategy is to be implemented in 2014. Certainly, it was a big hit for Canada-based Research in Motion (RIM) which had an exclusive contract with the US Department of Defense.
BAE posted lower-than-expected full year profits for 2012 as sales reduced while pre-tax profits slumped by approximately 6 percent, blaming delay in the final terms of pricing of the Saudi Arabia-based contract. The year ended on a rough note after BAE failed to seal a merger deal with EADS and stated that the growth potential in the UK and the US is likely to be “constrained”.
UK Prime Minister David Cameron arrives in India on the 18th of February with the biggest ever trade mission and will take part in three-day talks with Indian authorities. The delegation is aimed at tightening economic ties and increasing trade between the United Kingdom and India. UK Prime Minister David Cameron will be accompanied by a 100-person entourage, among which are parliamentarians and officials from companies and universities. The business delegation to India is a clear signal that the European nation is much interested in deepening relations with India which is expected to be the world’s third economy by 2050.
Rolls-Royce witnessed an increase in the full year profits by 24 percent to over £1.4 billion. The increase in the level of output at Boeing CO. and Airbus SAS led to stronger-than-expected profits for Rolls-Royce. Also, the company named Ian Davis as the chairman of the company.
On the 21st of December, BAE Systems PLC informed that it has agreed a deal to supply 20 aircrafts to Oman. A deal worth £2.5 billion, or over $4 billion, is expected to protect thousands of jobs in the United Kingdom.
General Electric has become the leader in the bid to take over the privately owned supplier of airplane parts in Italy, Avio. Sources familiar with the matter stated on the 15th of November that the company was set to present most of its plans to the officials of the government of Italy on the 16th of November.
Rolls-Royce Holdings Plc informed that its trading was on course as it announced that Alain Michaelis was to replace retiring chief operating officer Mike Terrett. The world’s second-biggest producer of commercial aircraft engines expects to see good growth in its full-year profit.
With a looming deadline of 5.00 p.m. October 10, 2012, there is much tension over the EADS-BAE effort to save merger that can lead to the establishment of the world’s greatest arms and aerospace group. With the EADS-BAE deal setback, German patronage for the problematic deal of 45 billion dollars (28 billion in pounds) is increasingly becoming dubious.
Britain’s BAE Systems and its rival EADS confirmed that they were talking on a $48 billion, or£30.4 billion, merger that could create the world’s second-largest aerospace, defense and security group. The merged equity is expected to generate approximately £60 billion revenues annually.
Philippine Airlines informed that it had signed a $7 billion contract to buy 54 Airbus jets as part of modernization program to meet higher demands for transporting both passengers and cargo in Asia, the Middle East and Australia. Moreover Philippine Airlines, the country's largest full-service carrier, announced that it planned to buy dozen more planes. Airbus won the $7 billion contract, beating Boeing Co. despite the U.S. support for Manila in a diplomatic dispute with the People’s Republic of China.
Michael O’Leary, the Chief Executive Officer of the Irish airline Ryanair, has confirmed that the company’s first-quarter profit dropped 29 percent as fuel costs rose and an economic recession pared its ability to increase fares. Moreover the airline informed that fare increases would be restrained upcoming winter mainly because of ongoing eurozone crisis and spending cuts.
The president of Boeing Jim Allbaugh signed an agreement with Frederico Curado of Embraer after the annual meeting of a public-private partnership group that ties the two countries together. This deal clearly would increase the competitive pressure on Airbus.
US aircraft manufacturer Boeing found Signs of a manufacturing error causing de-lamination in the plastic-composite on the fuselage of the first passenger jetliner built chiefly of carbon-fiber composites. After Boeing discovered the problem of its 787 Dreamliner, the company ordered to inspect its Dreamliner.
Boeing, the aerospace industry leader, announced Wednesday, that it would move out of Wichita and completely shut its plant in Kansas by the end of 2013 as military assignments dry up in the midst of U.S. spending constraints. This would surely affect the aerospace industry in Wichita. Back in February the city and state leaders held a grand celebration.
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