HAECO's new JV with Spirit AeroSystems boost shares - Suppliers Share Wrap
HAECO led shares in airline suppliers in trading on Wednesday, trading up 3.9%. The company's new MRO JV with Spirit AeroSystems formally opened yesterday. Based in Jinjiang, the company, known as Taikoo Spirit AeroSystems (Jinjiang) Composite Co Ltd, will perform composite repairs and overhauls with a focus on engine nacelles and components for B737NGs and B777s.
Aircraft manufacturers traded down as the Dubai Air Show wound down. EADS, parent of Airbus, lost 0.3%, while Boeing was down 1% and Embraer dropped 1.5%. Airbus had the best performance at the air show, signing orders and MoUs for 33 aircraft, with lesser orders for Boeing and Embraer.
Leasing companies were more mixed, with Genesis Lease down 1.5% and Aercap down 0.8%, as both companies sort out details of the planned merger. Aircastle was up 3.3%, continuing to trade strongly after reporting 3Q2009 net profit of USD33.5 million. Babcock & Brown Air (+0.8%) and Aerocentury (+1.3%) also finished the day higher,
Selected Aviation suppliers' daily share price movements (% change): 18-Nov-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance