18-Aug-2010 4:17 PM

ILFC targeting the African market; NIIT Technologies appoints new CFO

ILFC VP, Ozzie Chraibi, in an interview with Reuters, stated the American International Group unit is in negotiations with several national and commercial airlines to double its footprint in Africa by 2015. The leasing company currently leases aircraft in approximately eight countries in Africa.

Mr Chraibi commented: “We would love to double our exposure in Africa from, I think it's 20 aircraft at the moment, in the next five years...We are following the market and are actively pursuing many airlines in Africa; definitely Nigeria is one of the countries we are considering. We feel there is great potential here in Africa, and we want to grow our presence here”.

NIIT Technologies appoints new CFO

Meanwhile, shares in IT services company, NIIT Technologies, was the only decliner among the listed aerospace suppliers and leasing companies yesterday. The Indian company, on Monday, stated it appointed Ms Pratibha Advani as its CFO, taking over the responsibility from Amit Roy, the interim CFO.

Zodiac shares gain; rejects Safran acquisition attempts in Jul-2010

On the other end of the spectrum, shares in France’s Zodiac Aerospace, gained 3.5% yesterday. Last month, Zodiac rejected a proposal by Safran to acquire the company, saying the subject of a merger with the largest company was closed. Safran CEO, Jean-Paul Herteman, had previously commented that a tie-up would bring significant cost savings as the companies have the same customer base.

Selected Aviation Suppliers & Leasing daily share price movements (% change): 17-Aug-2010

Among the original equipment manufacturers yesterday, most companies witnessed share price improvements, with the exception of CAE and United Aircraft Corp, which both reported small declines (of 0.1% and 0.7%, respectively).

Selected Original Equipment Manufacturers daily share price movements (% change): 17-Aug-2010