IPLS - What's New in Aviation

WOOD DALE, Ill., Oct. 19 /PRNewswire/ -- AAR CORP. (NYSE: AIR - news) announced today that it has acquired the assets of Tempco Hydraulics, Inc., a privately held regional aircraft landing gear repair and overhaul business. AAR expects the acquisition to be accretive to earnings per share within the first year. Terms were not disclosed.

Amtran Reports Record Third Quarter and Nine Months (PR Newswire)
Amtran, Inc., parent company of American Trans Air, Inc., today reported a record third quarter net income of $12.4 million, compared with $1.7 million in the third quarter of 1997.
- Oct 19 8:02 AM EDT

Airbus Restructuring May Be A Year Away (Reuters)
Airbus's planned transition from a consortium into a joint stock company could be delayed until late 1999, managing director Noel Forgeard said in a weekend magazine interview.
- Oct 18 8:26 AM EDT

Boeing Business Jet Announces 11 New Orders at NBAA '98 (PR Newswire)
Customer response to the Boeing Business Jet continues to be positive as 11 new orders were announced today by Boeing Business Jets President Borge Boeskov, increasing the total number of sales to 46.
- Oct 18 7:30 PM EDT

Engine From Doomed Swissair Jet Recovered In Canada (Reuters)
Searchers combing the ocean floor have recovered one of three engines from the Swissair jet that crashed in the Atlantic Ocean off Canada last month, an official said Saturday.
- Oct 18 1:32 AM EDT

NTSB looking for ways of limiting interested parties involvement. -Oct 18 8:00AM EST Whenever an aircraft is involved in a major incident the NTSB (National Transportation and Saftey Board) is dispatched to sift through the wreckage and provide answers. In recent accidents, however, the use of outside experts, particularly those from the manufacturer or the subcontractor, have been called into question. Should the NTSB let the same people who built the aircraft investigate the accident?

After months of speculation Aviation Sales is moving its headquarters to Miramar. The Company on Friday closed on it's 7 million dollar purchase of a 41 acre tract of land at the Southeast corner of Miramar Parkway and Flamingo. Construction is set to begin on the 545,000 sq ft. office building that will server as corporate headquarters.

The Fort Lauderdale Sun Sentinal spoke with Dale Baker who stated that the 38 million dollar facility was needed to accommodate their continued expansion.

US Airways Receives First Airbus Aircraft (PR Newswire)
US Airways received the first of as many as 400 Airbus A320-family aircraft in delivery ceremonies at Airbus facilities at Hamburg today.
- Oct 16 6:58 AM EDT

Aircraft Insulation Changes Readied (Associated Press)
Fire concerns growing out of the Swissair Flight 111 crash investigation prompted the Federal Aviation Administration today to begin work on an order requiring eventual replacement of insulation aboard the entire U.S. aircraft fleet.
- Oct 15 12:48 PM EDT

Two PAL [PHL.CN] lessors seek return of planes (Reuters)
MANILA, Oct 15 (Reuters) - Two lessors to Philippine Airlines Inc (PAL) have terminated leases covering three Boeing (NYSE: BA - news ) 737-300 planes and have asked the Securities and Exchange Commission (SEC) to require the airline to return the aircraft. According to documents from the SEC obtained on Thursday, General Electric Capital Corp (NYSE: GE - news ) said it had terminated the lease on two aircraft on October 7 and it wanted PAL to deliver the planes to the Shannon International Airport in Ireland within 48 hours.
- Oct 15 4:02 AM EDT

With Its Sights Set on Innovation in the Skies, VisionAire Selects Auspex (PR Newswire)
Start-up VisionAire is making a name for itself in the aerospace industry. The company is designing and manufacturing the world's first composite, single-engine fanjet. The Vantage is designed as a comfortable business jet, providing speeds in excess of 400 mph, range of up to 1500 nautical miles and the ability to get in and out of airports previously inaccessible to jet aircraft.

Ghost plane goes on the rampage (Reuters)
An unmanned Boeing 727 made an unauthorized trip, without getting airborne, at Simon Bolivar International Airport outside Caracas Wednesday.
- Oct 14 4:54 PM EDT

Aircraft Insulation Changes Readied (Associated Press)
Fire concerns growing out of the Swissair Flight 111 crash investigation have prompted the Federal Aviation Administration to prepare an order requiring replacement of the insulation aboard the entire U.S. aircraft fleet.
- Oct 15 2:31 AM EDT

Singapore Airlines Launches Second Gaming Aircraft (BusinessWire)
Interactive Entertainment Limited announced today that Singapore Airlines Limited had launched the second B747-400 aircraft with IEL's Sky Games gaming software installed. SIA and IEL loaded the software on the second aircraft last week and performed testing to validate the aircraft environment.
- Oct 14 6:00 AM EDT

Grupo TACA Selects AAR For Comprehensive Airframe Inventory Support - [8:37AM EDT]
AAR CORP. announced today that Grupo TACA has selected AAR Airframe & Accessories Group, Inc. to provide comprehensive airframe inventory support for the alliance's maintenance and flight operations.

SAE and Air Transport Association to Host `Standard Airplane' Forum
SAE Aerospace, including Aerospace Engineering magazine, and the Air Transport Association will jointly host a symposium on airplane customization versus standardization on Thursday, November 5, at The Ritz-Carlton Hotel, Pentagon City, Virginia.

AirTran Holdings, Inc. Reports Third Quarter Financial Results (BusinessWire)
AirTran Holdings, Inc. reported a net loss for the third quarter of 1998 of $10.9 million, or $.17 per share, compared to a net loss of $14.6 million, or $.27 per share for the third quarter of 1997.
- Oct 14 8:00 AM EDT

AAR Corporation Announces Quarterly Report - [Oct 13, 1998 4:30PM EST]

Oct., 13, 1998, Kellstrom Industries Inc. announced Sept. '98 3 mos. EPS, $0.42 vs $0.25 and 9 mos. EPS, $1.06 vs $0.67. - [Oct 13, 1998 4:25PM EST]

Kellstrom Industries Third Quarter Revenue Increases 159%, Net Income Increases 167%

SUNRISE, Fla.--(BUSINESS WIRE)--Oct. 13, 1998--Kellstrom Industries, Inc. (NASDAQ: KELL - news) today announced results for its third quarter and nine month period ended September 30, 1998.

Kellstrom's revenues for the third quarter increased by 159% to $52,806,517 from $20,352,441 for the same quarter in 1997, and net income increased by 167% to $6,203,317, or $0.42 per diluted share, from $2,326,652, or $0.25 per diluted share in 1997. Revenues for the nine month period ended September 30, 1998 were up 119% to $119,960,205 from $54,768,424 in 1997, and net income was up 116% to $12,825,991, or $1.06 per diluted share, from $5,927,234, or $0.67 per diluted share, in 1997.

America West Introduces Airbus A319 - [Oct 13 08:15 AM EDT]
In a celebration today at Phoenix Sky Harbor International Airport, America West Airlines introduced the Airbus A319 aircraft, the first new model to be added to the Airline's fleet in seven years.

AVTEAM Announces Agreement to Acquire Leading Engine Repair Facility And Reports Preliminary Third Quarter Results-[Oct 12 4:34 PM EDT]

MIRAMAR, Fla., Oct. 12 /PRNewswire/ -- AVTEAM, Inc. (Nasdaq: AVTM - news), a global supplier of aftermarket aircraft engines, engine parts and airframe components, today announced a definitive agreement to acquire M&M Aircraft Services, Inc., which management believes is one of the largest privately held jet engine overhaul operations in the world. The company said also that third quarter 1998 net sales are expected to be approximately $15 million, compared with $13.3 million a year earlier, and that earnings are expected to increase at a similar rate.

AVTEAM said it will pay $30 million in cash and 350,000 shares of its class A common stock to acquire the assets and assume certain liabilities of M&M, an engine and engine component repair operation licensed by the Federal Aviation Administration. The transaction is subject to certain regulatory approvals and other customary conditions.

A slow Aviation News day, so how about some new software to play with. Let's start with the new version of Media Player from Microsoft. This baby decodes everything you can throw at it, in the way of audio and video streams. In fact, its the only player you will ever need, or at least that's what Microsoft says. Here's the link to Microsoft's site ( Media Player 6.0) - [Oct 11 6:17 PM EDT]

Another favorite application on the net is Winamp, now at version 2.03. Go check out there site at http://www.winamp.com. This is one of the original programs to play audio files on your Windows PC.

Disclamer on above: You may not find the above interesting, but to geeks like us at the IPLS it's like mana from heaven. If you also find this type of information interesting email us at news@ipls.com.

And finally, go check out landings.com They claim to be the busiest aviation site on the net. Who knows, maybe, maybe not, but regardless they are chock full of aviation related information. Have fun!

Jetliner Shot Down Over Congo - [Oct 10 1:10 PM EDT]

KINSHASA, Congo (AP) _ Rebel fighters shot down a passenger jet with 40 people on board Saturday in eastern Congo, firing a missile that hit the rear engine of the plane, a Congo Airline official said.

The Boeing 727 crashed shortly after takeoff into a densely forested area just outside of Kindu, about 620 miles east of the capital, Kinshasa, said Stavros Papaioannou, president of the airline's management committee in Kinshasa.

Papaioannou said women and children were among the civilian passengers on the aircraft. There was no immediate information on casualties as rescue workers were still searching for wreckage.

Capital Cargo to get sixth 727 next month [Oct 10 12:12 PM EDT]
MIAMI, Oct 8 (Reuters) - Capital Cargo International Airlines expected to take delivery of a Boeing 727-200 freighter in November, expanding its fleet to six from five, the president of the company said Thursday. ``It will be delivered on the 6th of November,'' said Peter Fox, chairman and president of Capital Cargo.

Airborne to add 767-200 next week [Oct 10 12:12 PM EDT]
MIAMI, Oct 8 (Reuters) - Package delivery company Airborne Freight Corp (NYSE: ABF - news ), doing business as Airborne Express, will operate its first commercial flight of a Boeing 767-200 aircraft converted from passenger to cargo use early next week, a company official said Thursday. ``If everything goes according to schedule, it will fly its first revenue-making trip next Tuesday,'' said Joseph Hete, chief operating officer of ABX Air Inc.

Some good news and some bad news. The bad, Pratt & Whitney announcing 2,000 job cuts. The good, Boeing winning a 1,2 billlion dollar refurb contract.

Pratt & Whitney to cut 2,000 jobs in U.S. - [Oct 09 5:56 PM EDT]
(Adds cities where cuts will occur, other details) By Matthew Lewis HARTFORD, Conn., Oct 9 (Reuters) - Aircraft engine maker Pratt & Whitney will cut about 1,000 jobs in Connecticut and another 1,000 in Florida, or about 6 percent of its global work force, starting later this quarter in a bid to boost profits and offset a decline in production, the company said on Friday.

Boeing Gets $1.2B Aircraft Contract - [4:44am EDT]
A Boeing Co. facility in nearby Fort Walton Beach has won a 10-year contract worth up to $1.2 billion to help maintain and modernize aircraft flown by the Hurlburt-based Air Force Special Operations Command.

FAA proposes check of Boeing planes - WSJ - [Oct 09 6:45 AM EDT]
NEW YORK, Oct 9 (Reuters) - The Wall Street Journal Friday reported the FAA has suggested inspections of 1,130 Boeing (NYSE: BA - news ) 737s after airlines found cracks in a bulkhead that could cause pressure loss in the plane. The order would apply first to older planes, and airlines would have at least several months to implement it, the report said.

Thai Airways confirms aircraft order cancellation - [4:44am EDT]
BANGKOK, Oct 9 (Reuters) - Thai Airways International Plc said on Friday it would cancel orders for one Airbus Industrie A330-300 and two Boeing (NYSE: BA - news ) 777-300s as part of its cost cutting and fleet adjustments. Thai Airways confirmation of the cancellation of the plane order follows a statement to that effect made by Transport Minister Suthep Thaugsuban on September 30.

Aviation General Inc. Forms Strategic Jet Services Inc. - [Oct 08 11:46 AM EDT]
Aviation General Inc. announced Thursday that it has formed Strategic Jet Services Inc. which will provide consulting, sales, brokerage and refurbishment services for jet aircraft.

The Daily Aviation Stock View! - [4:44pm EDT]

The Market was up 167 points, but another ugly day for aviation, only Kellstrom beat the Dow regaining an astonishing 27.16%. Way to go Kell!

The Daily Aviation Stock View! - [6:17pm EDT]

Can you say "Where has all my money gone!" Another rough and tumble day for aviation investors everywhere, even after a late rally by the Dow! Somehow AvTeam and Willis bucked the trend.

Symbol	Last Trade		Change		Volume
^DJI	4:13PM	7731.91	-9.78	-0.13%	N/A
YLF	10:57AM	5 ¹/₈	-¹/₁₆	-1.20%	4,800
AVTM	3:33PM	5 ¹/₄	+¹/₈	+2.44%	3,600
KELL	4:00PM	10 ¹/₈	-¹/₄	-2.41%	461,200
HEI	3:47PM	16 ¹/₄	-³/₈	-2.26%	33,400
ADIN	Oct 7	³/₄	0	0.00%	0
AVS	3:58PM	26 ⁹/₁₆	-1	-3.63%	32,000
AVL	4:11PM	10 ¹/₁₆	-³/₁₆	-1.83%	90,000
WLFC	3:35PM	15 ¹/₂	+¹/₈	+0.81%	7,000
CADE	3:47PM	2 ¹/₈	-⁷/₃₂	-9.33%	123,400
AIR	4:01PM	18 ⁵/₈	+¹/₈	+0.68%	34,300
FASI	3:53PM	6 ¹/₄	0	0.00%	21,200

Willis Lease Finance Closes $150 Million Syndicated Credit Facility - [10:01am EDT]

SAUSALITO, Calif., Oct. 8 /PRNewswire/ -- Willis Lease Finance Corporation (Nasdaq: WLFC - news) and its affiliate Willis Aeronautical Services, Inc., announced today the closure of a syndicated revolving credit facility for $150 million for the purpose of funding asset acquisitions and for general corporate purposes. The syndicate was led by First Union National Bank (NYSE: FTU - news) and NationsBank (now Bank of America) (NYSE: BAC - news). The credit facility, the proceeds of which are immediately available, replaces a $100 million facility.

8/26/96 - What's New! This page will be used to track all important updates in the world of aviation. If you have some information that you believe would enhance the page please email to info@ipls.com.

These pages are protected under US and International Copyright Laws 1996 IPLS, Inc. Last Update: August 29, 1996