Asia-Pacific Aerospace Briefs Today
March 18th 2024
Today's news report news from BOC Aviation, Malaysia Airlines, Rolls-Royce and SATS. Read More »
BOC Aviation has reported net profit of US$764 million for the 12 months to December 31 2023, up from US$20 million in the prior year and above the previous record high net profit of US$702 million in calendar 2019. Revenue rose 6.7% to US$2.5 billion, BOC Aviation said in a regulatory filing. “We are delighted to report record earnings as we celebrate our 30th anniversary,” BOC Aviation CEO, Steven Townend, said. “With passenger travel growth expected to remain firm, we are well placed to leverage continued strong demand for the modern aircraft that comprise our fleet and order book.”
Malaysia Airlines and Google have announced plans to collaborate on digital marketing and AI initiatives to boost tourism to Malaysia.
Rolls-Royce has announced a £55 million (US$70 million) investment to increase engine production capacity at its Derby, U.K. facility by 40% from 2025 and building out its Dahlewitz, Germany, facility to commence assembly and testing of the Trent XWB-84 engines from 2026.
SATS subsidiary, Worldwide Flight Services, has sold its Maytag Aircraft LLC business, which provides airfield support to the U.S. Department of Defence, to Albion River LLC. The transaction put an enterprise value of Maytag at US$46 million, SATS said in a regulatory filing.
In other SATS news, the company has announced a proposed proposed acquisition of Sweden-based Terminal & Transporttjänst i Sigtuna AB and APH Logistics AB for 94 million kronor (US$9 million).
