Leaders of Europe’s aerospace industry met with the president of the European Central Bank (ECB) at its Frankfurt headquarters on July 10 to express their “deep concern regarding the impact on their industry of the rapid and extreme fluctuation of the U.S. dollar compared to the euro,” according to the AeroSpace and Defense Industries Association of Europe (ASD).
Given the skyrocketing price of oil, the global financial crisis and gloomy forecasts from the travel industry, one might be forgiven for anticipating a message of gloom and doom from a manufacturer of a substantial proportion of the world’s aero engines.
In a continuing expansion of its presence in aerospace, UK firm ENL (Hall 4 Stand E14) has opened an injection molding center in Slovakia with the support of BAE Systems. The company supplies precision injection molded and machined components to Airbus, Thales, BAE Systems and Raytheon, and soon plans to begin manufacturing composite parts.
The new Series 5000 full flight simulator that CAE inaugurated recently at its Burgess Hill training center near Gatwick is the first example of a new design intended as a more affordable alternative to the company’s established 7000 series.
Jet fuel prices are soaring, capital markets are drying up, Western economies at best are stalled and defense budgets are under threat as shrinking tax bases swell national debts to unsustainable levels. But you won’t find many prophets of doom among the top aerospace executives gathered here for the 2008 Farnborough International show.
GA Telesis (GAT) has acquired the assets of Curtiss Wright Accessories Services, including its 56,000-sq-ft facility in Miami. It will be rebranded as GA Telesis Component Repair Group Southeast. GAT supports servo controls, hydraulics, pneumatics, fuel systems, hydromechanical, electronics and power generation for Airbus, Boeing, Bombardier, Embraer and McDonnell Douglas aircraft.
The quiet revolution that sped through the airliner supply industry over the past decade has become mainstream doctrine: no longer can subsystems suppliers rely on the lead OEM to assume the design and integration responsibility for their products, at least according to the companies that occupy the upper tiers of the supply chain.
After missing out on key program selections for the new Airbus A350XWB and Boeing 787 programs, French nacelle maker Aircelle is laying plans for what
EADS Socata, the France-based manufacturer of the TBM 850 turboprop, last month denied the content of a June 1 story in the India Times, which reported that UB Group’s Vijay Mallya was ready to invest $200 million in the development of a jet. “We did talk to Mallya, but it was about relaunching our line of piston singles,” a spokesman said, adding that the company has made no progress recently in the search for partners in business aircraft.
If Airbus COO customers and chief commercial officer John Leahy ever met a paying customer he didn’t like, it certainly wasn’t one of the world’s big aircraft lessors, whose strong balance sheets look all the stronger at a time soaring fuel costs eat away at profits of the world’s airlines.