9-Feb-2010 8:45 AM

BAE Systems rides out commercial aviation downturn

BAE Systems reports (08-Feb-2010) its Regional Aircraft business held up well in the face of the "worst ever downturn in the world’s commercial aviation markets", placing 44 aircraft in 2009 and winning 41 new aircraft remarketing mandates from third parties during the year.  Of the 44 aircraft, 30 were BAe 146 regional jets, while there were 14 turboprops placed (11 ATPs and three Jetstream 32s). The support and engineering business reported a drop in spares business, as airlines consolidated existing spares stocks and cut back on new orders. However, there was a strong performance in the engineering business in winning new work from manufacturers. [more]