Asia-Pacific Aerospace Briefs Today
October 27th 2022
Today's briefs report news from the Australian government, Air France-KLM Group, China Development Bank Financial Leasing Co, GE Aviation, Interglobe Aviation, Neste and Pratt & Whitney. Read More »
China Development Bank Financial Leasing Co (CDBFL) subsidiary, CDB Aviation Lease Finance, has signed a purchase and leaseback agreement with Interglobe Aviation, the parent company of IndiGo, for three A321neo. Delivery of the aircraft to the India LCC is expected by January 2023, CDBFL said in a regulatory filing to the Stock Exchange of Hong Kong.
Neste has contracted to supply Air France-KLM Group with 1 million tons (1.26 billion litres) of sustainable aviation fuel over eight years from 2023.
Raytheon Technologies said in its latest financial report Pratt & Whitney had an operating profit of US$316 million in the three months to September 30, up 69% from the US$187 million it reported in the previous corresponding period. Revenue improved 14%, to US$5.4 billion, as growth in its commercial engines business offset a slight decline in military sales.
GE’s latest financial results have reported its aerospace arm posted a profit of US$1.3 billion for the quarter to September 30, an increase of 52% from US$846 million in the same months in 2021. Revenue rose 6%, to US$7.3 billion, as engine deliveries jumped by double digits and demand for aftermarket services grew.
Australia’s national government will spend A$139.9 million (US$91 million) in the next three years to support the country's aviation sector. The funding was included in the government's 2022/2023 budget handed down on Tuesday. It will pay for upgrades at Hobart and Newcastle airports, border facilities design work at the under-construction Western Sydney Airport and a White Paper on aviation, among other measures.
