Asia-Pacific Aerospace Briefs Today
February 24th 2023
Today's briefs report news from Cathay Cargo, Pratt & Whitney, Raytheon, Rolls-Royce, SF Airlines and ST Engineering. Read More »
Cathay Pacific has rebranded Cathay Pacific Cargo to Cathay Cargo. Group CEO, Ronald Lam, described the change as an “opportune moment to align our cargo business with the master brand as we continue our cargo investments in Hong Kong and the Greater Bay Area for a promising future”.
Raytheon CEO, Greg Hayes, told a financial conference this week that fixing the reliability issues customers have experienced with the company's Pratt & Whitney geared turbofan (GTF) engines on the A220 and A320 platforms will be a challenge “all year long”, media has reported.
Rolls-Royce has booked a net loss of STG1.3 billion (US$1.5 billion) for the 12 months to December 31 compared with a net profit of STG121 million in the year ago period. The engine OEM attributed the losses to accounting charges related to foreign exchange contracts. Operating profit rose 63%, to STG837 million, Rolls-Royce said in a regulatory filing.
ST Engineering and SF Airlines will establish a joint venture MRO green field facility at Ezhou Huahu Airport in Hubei, China. Construction is scheduled for completion in 2025. ST Engineering will own 60% of the business and SF Airlines the remaining 40%.
