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Monday, February 14, 2005

Supply side

ATR

Air Caraibes ordered a ATR 72-500. The Gaudeloupe-based carrier will exchange an ATR 42-500 for the new 70-seat turboprop. The plane is to be delivered in November and it will be the third ATR 72-500 in its fleet.

Harbin Embraer

China Southern Airlines took delivery of its sixth and final ERJ 145, produced by Harbin Embraer Aircraft Industry. A joint venture with Embraer [ERJ], the Harbin facility is the only Embraer aircraft assembly plant outside of Brazil.

Embraer

India's order last week of three specially outfitted Embraer 145s as Airborne Early Warning & Control spy planes is valued over $100 million. In a second stage, India's Defense, Research and Development Organization may purchase four more spy planes. The total deal could be worth $250 million.

Bombardier

Deliveries of the Bombardier [BBD] Q400 turboprop airliner reached a milestone last week when Austrian Airlines Group accepted the 100th Q400 built. The aircraft is the ninth 72-seat Q400 from a firm order for 10. It will be flown by Tyrolean Airways, Austrian's in-house regional carrier based at Innsbruck.

Utilicraft Aerospace

Utilicraft Aerospace gave the go-ahead for the production of a prototype of FF-1080, a dual-engine, turboprop freight aircraft capable of carrying 10 LD-3 containers or 31,960 pounds. Metalcraft Technologies will begin building the sub-assembly center-fuselage section. In addition to the prototype, Metalcraft will build up to 528 production aircraft.

GE

GE Transportation-Aircraft Engines has completed the purchase of Aircraft Parts, a private firm that manufactures and repairs aircraft electrical systems.

Hamilton Sundstrand

PSA Airlines, a US Airways Express carrier, awarded a 10-year contract to Hamilton Sundstrand to continue to provide maintenance support for electric, air management and emergency power systems on its fleet of Bombardier regional jets.

Raytheon

Raytheon, the parent of Raytheon Airline Aviation Services, earned $439 million, or 99 cents per share, on sales of $20.2 billion in 2004. In 2003, the company earned $535 million, or $1.29 per share, on sales of $18.1 billion. The aircraft division contributed $63 million in operating income on net sales of $2.4 billion. A year ago, the aircraft division earned $2 million in operating income on $2 billion in net sales.

Sabre

Sabre Holdings [TSG] earned $21 million, or 16 cents per share, in the fourth quarter compared to a loss of $13.8 million, or a dime a share, that it experienced in the same period of 2003. For the year, Sabre earned $190.4 million, or $1.40 per share, on revenue of $2.1 billion. In 2003, the company earned $83.3 million, or 59 cents per share, on revenue of $2 billion.

AeroCentury

AeroCentury, an independent aircraft leasing company, reported a fourth quarter profit of $743,000, or 48 cents per share, on revenue of $4 million. A year ago, the company earned $26,000, or two cents per share, on revenue of $2 million. For 2004, AeroCentury earned $266,000, or 17 cents per share, on sales of $10.9 million. In 2003, the company reported a loss of $1.3 million, or 87 cents per share, on sales of $8.9 million.

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