Kuwait-based Agility has reported a 16.4 per cent rise in net profit for the first quarter 2009 over the same period last year despite the global economic downturn. Net profit before non-recurring items was KD39.2 million (US$134.8 million). “Going forward, we are proceeding with extreme caution, and will continue to centre our efforts on aggressively managing cost and cash while driving performance. We also continue to scope out game changing opportunities for mergers and … [Read more...] about Q1 profit for Agility despite downturn
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New Indian MRO JV for narrow bodies
TIMCO Aviation Services and Hindustan Aeronautics Limited (HAL) have entered into a new joint venture agreement focusing on providing scheduled C checks and heavy maintenance services for operators of narrow body Airbus and Boeing commercial aircraft in India and the neighboring region. … [Read more...] about New Indian MRO JV for narrow bodies
Mubadala full acquires SR Technics Group
Mubadala Development Company has acquired sole control of the SR Technics Group and increased its shareholding to 70 per cent following a buyout of Istithmar’s 30 per cent shares. Dubai Aerospace Enterprise (DAE) continues to hold a 30 per cent shareholding in the company. The consortium acquired SR Technics in 2006. SR Technics will continue to operate as an independent company under its existing brand. … [Read more...] about Mubadala full acquires SR Technics Group
Foreign MROs may face increased US scrutiny
Threatening to derail an aviation safety pact with the European Commission (EC), US lower house lawmakers have passed a bill mandating US safety inspectors to conduct more checks of overseas aircraft maintenance, repair and overall (MRO) companies. The new bill, not as yet law, requires the Federal Aviation Administration to increase its overseas inspections from once a year to twice a year, and foreign workers would have to submit to the same drug and alcohol testing and criminal background … [Read more...] about Foreign MROs may face increased US scrutiny
Air India to build Hyderabad MRO facility
In a bid to establish itself as a key player in the Indian MRO market, Air India has acquired five acres of land at the new Shamshabad Airport in Hyderabad where it is about to begin building a new MRO facility. The new facility – expected to be completed within 18 months – will consist of a hangar for carrying out major maintenance of aircraft, and an annexe building to accommodate component overhaul shops and various engineering offices. The hangar will be capable of … [Read more...] about Air India to build Hyderabad MRO facility
Logistics survey provides glimmer of hope
The results of Transport Intelligence’s latest Global Logistics Business Confidence Index show a significant return of optimism to the market. Although the index weakened slightly in April from +1.05 to -4.43, there was far morepositive sentiment about the future. Overall the index assessing confidence in the state of the market in twelve months time moved from a score of -26 in February to +4 in April. This contrasts strongly with the results in February and March whenrespondents … [Read more...] about Logistics survey provides glimmer of hope
