Finance and economyEads increases of 1.7% on the European stock exchanges

London, United Kingdom - Decisive the news of an Emirates order

Eads has increased of 1.7% on European stock exchanges for the news reported by an economic newspaper, that Arabic airline Emirates could announce an important order for an Airbus on next month. After... more

Finance and economyUSD 3,5bn to the Us airlines in order to damp the losses provoked by war

Washington, Usa - Congress allocates new funds in order to face up the war's costs

Us Congress has approved two amendments that authorize new funds in order to face up the costs of the war and in order to begin the reconstruction in Iraq. It has also allocated funds for the Us airlines,... more

Finance and economyAccording to International Monetary Fund the war costs will be high

Washington, Usa - In war case world economy will slow down

According to the International Monetary Fund (Imf), a long duration and diffused Iraqi conflict will have series consequences for the world economy. Imf economists hypothesis is that the war would prime... more

Finance and economyIn 2003 FMI expect a pil reduction

Paris, France - The uncertainty of world economic conditions hits Ocse countries

Fmi (International Monetary Fund) has reviewed the rating for the countries of Ocse area (Organization for Economic Development and Cooperation)in 2003. The economic survey, presented at G7 in Paris,... more

Finance and economyThe Iraqi war could cost 1% of the economic production

Sydney, Australia – The alarm has been launched by two Australian economists

"Also a short conflict would have the meaningful repercussions on the world-wide economy, but it considers the economic increase indices, these would not go towards a recession". This is the conclusion... more

Finance and economyRaytheon enquired in the Usa for suspect irregularities in the balances from 1997 to 2001

Washington, Usa - The enquiry has been started by Sec (Security and Exchange Commission)

The aeronautical industry Raytheon has been involved in an enquiry of Sec (Security and Exchange Commission) for some irregularities discovered in the balances presented from 1997 to 2001. Until now it... more

Finance and economyPolemics in Pakistan for a USD 2bn loan

Islamabad, Pakistan - Money should be used to buy new aircraft for the national air carriers

By some days in Pakistan is acting a strong polemic caused by the USD 2bn loan, that should be used to buy eleven new aircraft for the PIA (Pakistan International Airlines) that recently has also programmed... more

Finance and economyUs Airway avoid the bankruptcy

Washington, Usa - Reached a agreement with its dependents

The risk of bankruptcy for Us Airways is avoided after the agreement with its 13.500 dependents about cut in wages. The american airline has decided to cut down on expenses to avoid the bankruptcy. This... more

Finance and economyAir Canada will be delisted by Nasdaq

New York, Usa - The delisting will be operative by the next December 3rd

Starting from the next December 3rd Air Canada will be delisted by Nasdaq of Wall Street. The decision has been taken because the shares of the Canadian carrier do not guarantee enough incomes to its shareholders,... more

Finance and economyFraport interested to purchase Sea Holding

Milan, Italy - Albertini: " If there is new offers, it must be reserved"

In accordance with some indiscretions of press, the german Fraport, that controls the airport of Frankfort, would be interesting to purchase the Sea Holding, the society that is responsible to the ground... more

Finance and economyMidwest Express amends and extends bank credit facility

Milwaukee, Usa - Until August 30, 2003

Milwaukee-based Midwest Express Holdings has entered into an amendment to its bank credit facility that will extend until August 30, 2003. Terms of the amendment include an initial USD 25m commitment,... more

Finance and economyBoeing to record third quarter non-cash charges of approximately USD 250m

Chicago, Usa - To strengthen reserves and revalue certain investments amid continuing commercial aviation downturn

The Boeing Company announced today that it will recognize, on a pre-tax basis, certain non-cash charges that will reduce operating earnings approximately USD 250m. The expected after-tax impact to net... more

Finance and economyJapan Airlines System made its debut on the stock market

Tokyo, Japan - The holding company for the JAL-JAS merger

With the issue of 2 billion shares, Japan Airlines System Corp, the holding company created for the giant air carrier born from the merger of Japan Airlines and Japan Air System (JAL Group), formally made... more

Finance and economyBritish Airways shares fell at their lowest point

London, Uk - Even worst than during 1991 war in Iraq

Yesterday the shares price of UK's main air carrier British Airways touched its lower level ever, even worst than what registered in 1991 during the Gulf war. Traders marked BA shares down 8,75p to 95,75p,... more

Finance and economyAmerican Airlines shares fell at levels of 1983

Washington, Usa - Since the beginning of September American's stock has lost half of its value

Bad news for American Airlines (AA) whose stock price in fact fell at levels as low as those in 1983. More than 10 million shares changed hands on Thursday, compared with average trading volume of about... more

Finance and economyEmbraer is selected world leader in aerospace sector for the Dow Jones Sustainability World Index

Sao Paulo, Brazil - For the second year in a row

The Brazilian regional jet manufacturer Embraer has been chosen for the second year in a row to be part of the Dow Jones Sustainability World Index (DJSI World). After surveying 2.500 of the world's largest... more

Finance and economyIt is next to the conclusion the sale of Gate Gourmet

Zurich, Swiss - It will be relieved from an american society of investment

It is next to the conclusion the sale to an American company of Gate Gourmet, branch of ex Swissair group specialized in catering on flight. The passage would be completed in the last quarter of 2002.... more

Finance and economyFinmeccanica loses 87% in its profits for 1Q2002

Rome, Italy

As published yesterday by AVIONEWS, Finmeccanica SpA has confirmed that its net profit in the first three months of the year fallen 87% to 13.891 mln eur from 104.627 mln as the contribution to earnings... more

Finance and economyUsa-Russia: maybe they will co-operate on the creation of an anti-missile system

Reykjavik, Iceland - Talks to start next week in Moscow

According to a Pentagon officer, in his next week meeting with president Vladimir Putin in Moscow, Bush will likely ask Russian co-operation to create an anti-missile system. (m/cesn) more

Finance and economyLufthansa shares lost 3,19% at DAX

Frankfurt, Germany

Lufhtansa has registered a loss of 3,19% of its shares at Frankfurt DAX Stock Exchange, due to concerns raised for the possible acquisition of the German subsidiary of British Airways, Deutsche BA, from... more

Finance and economyMoody's to reduce All Nippon Airways rating

Tokyo, Japan - To Baa3

Financial rating agency Moody's Investors Service is likely to lower All Nippon Airways long-period rating to Baa3. Decision followed Japanese Fair Trade Commission choice to give its ok to Japan Air System... more

Finance and economyMoody's to reduce All Nippon System rating

Tokyo, Japan - To Baa3

Financial rating agency Moody's Investors Service is likely to lower All Nippon Airways long-period rating to Baa3. Decision followed Japanese Fair Trade Commission choice to give its ok to Japan Air System... more

Finance and economyNortrhop Grumman "refused" by TRW

Washington, USA

According to defense electronic industry TRW sources, the shareholders have refused the Northrop Grumman offer to buy a consistent share of industry for 12,2 USDbn, launched in a public offer. The sources... more

Finance and economyOsprey causes damages also in Stock Exchange

New York, USA

The New York law firm of Milberg Weiss Bershad Hynes & Lerach has announced that it has sued Textron Inc. on behalf of purchasers of the securities of the company, between October 19, 2000 and September... more

Finance and economyStandard&Poor's upgrades Lockheed Martin position

New York, USA

Standard & Poor's recently upgraded the LOckheed Martin Corporation's long-term debt rating to Triple-B with a stable outlook and its commercial paper rating to A-2. Net sales for the first quarter of... more

Finance and economyBoeing: 53% losses in first 2002 quarter

Chicago, USA

U.S. industry Boeing Company, announced that it has registered a net percentage loss of 53% in incomes in the first quarter of 2002, compared with the same period of 2001, with a loss of 1,24 USDbn. In... more

Finance and economyKaman reports its first quarter financial results

New York, USA - Losses for over 3 USdm reported

Kaman Corp. reported first quarter earnings per share of 24 cents on a diluted basis, compared to 38 cents per share diluted a year ago. Net earnings were $5.3 million, compared to $8.7 million the previous year. The... more

Finance and economySurge in oil price hits the European airlines stocks

London, Great Britain - The Middle East situation is the cause of the crisis

THe risk of a sudden surge of the oil prices has hit the stocks of most European airlines. British Airways reported the biggest FTSE100 lost, and also Lufthansa and Air France have been hit by the crisis. The... more

Finance and economyBritish Airways downgraded by Moody's

London, Great Britain - The evaluation of one of the leading U.S. rating agency

British airline British Airways has been submitted to a fresh downgrade by U.S. leading rating agency Moody's which has cuts carrier's unsecure rating from Ba1 to Ba2.Moody's said the outlook for BA remained... more

Finance and economyUs airlines almost out of the dark

Washington, Usa - Economy recovery supports air transport

Hardly hit by economic recession and most of all from September 11th attacks, Us airlines start now to recover. "We are non still back to normality, but signals are definitively encouraging", commented... more

Finance and economyUs economy to recover

New York, Usa - Unemployment benefits: 15000 reduction within last week

Positive signals for the tormented Us economy, as Labour department confirmed yesterday a 15000 decresae in the number of unemployment benefits request within last week. Economic performance seems finally... more

Finance and economyBin Laden's bill

Us economy to pay USDb 640

According to DRI-WEFA, a consulting firm of Eddystone (Pennsylvania), last September 11th terrorist attack will cost USDb 640. The study, published yesterday, puts into account social consequences in... more

Finance and economyBBB+ RATING FOR LUFTHANSA

FRANKFURT, GERMANY, The financial evaluation agency Standard and Poor's awarded German airline Lufthansa of a BBB+ rating which, according to a note, signifies a stable economical position. The short-term... more

Finance and economyBRITISH AIRWAYS SHARES LOSE 3%

LONDON, GREAT BRITAIN, British Airways shares have lost 3% in the London Stock Exchange market yesterday, after unveiling of the new industrial plan of airline, which could forecast up to 10.000 jo... more

Finance and economyFRENCH ECONOMY SLOWDOWN IS DUE ALSO TO MISSED AIRBUS AIRCRAFT DELIVERY

PARIS, FRANCE, According to French financial ministry declarations, it seems that French economy slowdown is also due to missed deliveries of Airbus aircrafts, caused by order cancellation. Airbus delivered... more

Finance and economyAIR FRANCE SHARES JUMP AFTER DIFFUSION OF POSITIVE FINANCIAL DATA

PARIS, FRANCE, After the financial data of the French carrier Air France have been diffused, the shares of airline jump at Paris Stock Exchange, which is overally negative. The sales increment, according... more

Finance and economyBANKS RECOVER PLAN FOR SWISSAIR IS READY

ZURICH, SWITZERLAND, The two major Swiss banks, UBS and Credit Suisse, developed a recovering plan to help the debt burdened Swissair airline, which has suffered a 97% loss of its shares at Zurich Stock... more

Finance and economySNECMA GOES TO STOCK EXCHANGE

LE BOURGET, PARIS, The French industry Snecma, specialized in aviation and aerospace engines, has been quoted in Paris Stock Exchange for a 25% of its capital. According to French Prime Minister Lionel... more

Finance and economyROCKWELL COLLINS AWARDED A OVER 16 USDM CONTRACT

USA, Rockwell Collins Inc., Cedar Rapids, Iowa, is being awarded a contract with an estimated cumulative total of $16,763,245 for IFM modules to be used with AN/ARC-201 SINCGARS tactical airborne ATG... more

Finance and economyNORTHROP AWARDED A NEAR 7 USDM CONTRACT

USA, Northrop Grumman Corp., Bethpage, N.Y., is being awarded a USD 6,900,000 contract for three outer wing panels for the U.S. Navy E-2C aircraft. Work is expected to be completed by March 2005. more

Finance and economyRAYTHEON MISSILE SYSTEMS AWARDED A NEAR USD20M MODIFICATION CONTRACT

USA, Raytheon Missile Systems, Tucson, Ariz., is being awarded a USD 19,845,344 modification to a previously awarded contract with the Naval Air Systems Command, Patuxent River, for an engineering change... more

Finance and economyLITTON AWARDED NEAR 9 USDM CONTRACT

USA, Litton Systems Inc., San Carlos, Calif., is being awarded a USD 8,939,423 (estimated) contract by Ogden Air Logistics Center, Hill AFB, Utah, to provide for three years of repair services for the... more

Finance and economyFENN MANUFACTURING AWARDED OVER 12 USDM CONTRACT

USA, Fenn Manufacturing Co., Newington, Connecticut, is being awarded a $12,542,600 delivery order by U.S. Army Aviation & Missile Command, Redstone Arsenal, Alabama for 68 rotary wing heads to support... more

Finance and economyAUSTIN CO AWARDED A OVER 21 USDM CONTRACT

USA, The Austin Corporation, Houston, Texas, is being awarded a over 21USDm contract by the U.S. Army Engineer District, Tulsa, Oklahoma for the design and construction services of a one-bay facility... more

Finance and economyBAE SYSTEMS' SHARES GO DOWN ON THE STOCK EXCHANGE

LONDON, GREAT BRITAIN, After the announcement of BAe Systems' entry in the new European missilistic pole, Mbda, BAe registered a 4,5 pence lost on the 334,5 pence value in the stock exchange. Mbda incudes,... more

Finance and economyUSA-CHINA: TRADE RELATIONS DETERIORATED AFTER HAINAN ACCIDENT?

CHINA, What is the load of the American fighter question in the normal Usa-China trade relations? Before the US crew was finally released only two days ago, Beijing entrance in WTO (World Trade Organization),... more

Finance and economyPOSSIBLE AGREEMENT BETWEEN NORTHWEST AND ITS MECHANICS

USA, After many years the dispute between Northwest Airline and the 10000 mechanics asking for a new contract seems to have arrived to an end. President Bush appointed a Presidential Emergency Board... more

Finance and economyREQUEST FOR RESTRUCTURING

NEW YORK, Iata General Manager Pierre Jeanniot opened last week the International Air Transport Association (IATA) finance section of 2001 inviting the airlines to a swift firm restructuring. The... more