Boeing's shares were up 3.3% yesterday, as the withdrawal of EADS/Northrop Grumman from the US Air Force aerial tanker programme leaves it as the sole bidder. EADS shares fell 1.0% yesterday, despite its Airbus unit confirming an order for 25 A350 XWBs with United Airlines.
Elsewhere in the aerospace supply chain, Hong Kong Aircraft Engineering Co (HAECO) shares slid 3.5% on Wednesday, following the company announcing a 40% fall in net profit in 2009 earlier in the week. Revenue dropped to HKD4,050 million, down 17% in 2008 levels. The company cited falling demand for its airframe heavy maintenance and line maintenance services. Net profit for the year was HKD688 million.
HAECO recommended a dividend of HKD1.50 per share, a third down on the HKD2.25 dividend it paid in 2008, when it reported a net profit of HKD1,140 million.
BBA Aviation gained 4.1%, pushing the stock to an eight-week high. BBA’s share price has gained 11.5% in the past five days.
Selected Aviation suppliers’ daily share price movements (% change): 10-Mar-2010
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.