FLUG REVUE update: Week ending May 13, 2001

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UPDATE

Week ending May 13, 2001

+++ EADS turnover on plan +++ US space defence initiatives +++ Boeing moves to Chicago +++ News in brief +++

EADS turnover on plan
Gute Entwicklung bei EADS

EADS European Aeronautic Defence and Space Company continues its strong growth path. Europe's largest aerospace company announced at its first Annual General Shareholders Meeting on May 10 in Amsterdam, that its first-quarter revenues of EUR 6.3 billion are in line with the EADS business plan. Order intake between January and March 2001 reached EUR 18.9 billion, resulting in an order backlog of EUR 169.7 billion on March 31, 2001, with full consolidation of Airbus. This backlog covers nearly six years of revenues. At year-end 2000 order backlog had amounted to EUR 131.9 billion, including EADS' 80% stake in Airbus. The increase in order intake was particularly strong in the Airbus division, with 117 new firm orders.
Philippe Camus and Rainer Hertrich, CEOs of EADS, stated that: "Revenues and order intake for the first quarter reaffirm our excellent growth prospects. They confirm our expectations of profitable growth for the full year of 2001." The CEOs added, "If the current level of the Euro/Dollar exchange rate continues for the remainder of the year, we should achieve a revenue increase of 20 %. Our earlier forecast of 15 % was based on a more conservative exchange rate assumption. The prediction for Earnings before Interest and Taxes (EBIT, before goodwill and exceptionalitems) is at an expected growth rate of approximately 15 %."
The Military Transport Aircraft division's major future project, the A400M, is still in its pre-development phase. The go-ahead of European governments for 229 aircraft isexpected at the Le Bourget Air Show.

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US space defence initiatives
Pentagon zur Verteidigung im Weltraum

Secretary of Defense Donald Rumsfeld, at a special Pentagon briefing May 8, announced a series of organizational changes designed to sharpen the Pentagon's focus on U.S. defense interests in outer space."Space issues are complex and merit a renewed focus," Rumsfeld said, adopting some of the recommendations of a commission he led before becoming defense secretary. "These national security, space management and organizational changes are a part of our initial efforts to transform the U.S. department and establishment and reform DoD structures, processes and organization. They will help the U.S. to focus on meeting the national security space needs of the 21st century." Rumsfeld said. The U.S. Air Force, he said, will become the lead for space activities in the Department of Defense. At the special briefing, Rumsfeld also discussed the Bush administration's missile defense plans. He said the administration will explore as many as a dozen different approaches to missile defense after consulting with Russia, China and U.S. allies, and it has not yet devised a plan that is "all firm and all fixed." "People think, you know, 'My goodness, they obviously have something in their heads that's all firm and all fixed, and they're going to suddenly pull open the curtain and there it is.' Not true. These consultations are serious. They're real. This is a big, important issue for people to discuss. It's going to take some relearning; it's going to take a willingness on the part of people to recognize the difference in our circumstance today from what the circumstance was in the Cold War, and we're going to do that, and we're going to do it well."

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Boeing moves to Chicago
Neues Boeing-Hauptquartier in Chicago

On May 10, Boeing solidified a series of strategic changes to its corporate architecture by choosing to locate its new world headquarters in Chicago. "We're continuing to transform our company with a focus on long-term growth and value creation. Our new corporate architecture - with a leaner headquarters located separately from our major business units - is a fundamental element of our business strategy," said Boeing Chairman and CEO Phil Condit. "We looked at three very exciting metropolitan areas in which to base our company. Each community had many positive attributes and would be a suitable location for a corporate headquarters. It was a very difficult decision and no single factor made the difference. In the end, we looked at all the data and made what we believe is the right choice for Boeing," Condit said. By Sept. 4, the company plans to begin operations in its new headquarters at 100 North Riverside Plaza in Chicago.

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NEWS IN BRIEF / KURZMELDUNGEN

On May 9, Sikorsky announced the selection of the Israel Aircraft Industries (IAI) MATA Division as an authorized S-76/S-70 helicopter Maintenance Center to provide repairs, spare parts and other services. MATA Division within IAI's Military Group provides helicopter support for the Israel Air Force (IAF) and foreign customers. The MATA plant covers approximately 215,000 square feet at Ben-Gurion International Airport. It has the equipment and facilities for modification and testing a wide range of helicopters. MATA currently employs over 270 people. All of MATA's manufacturing personnel have formal technical training, including experience in the IAF. Its highly qualified engineering and marketing staff includes IAF helicopter pilots.
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The following statement by General James L. Jones, commandant of the Marine Corps, is offered in response to the New York Times' March 7 article "Top Marine Calls For a Backup Plan To Replace Osprey.": "There has been no watershed event that has prompted me to ask for a search of options, or a study of alternatives to the Osprey, and I have not done so. Nor do I have any new information that would lead me to believe that this important program is ?in peril.? There have been seven independent studies conducted as the Marine Corps considered the best options for a medium-lift helicopter replacement 11 years ago. We know what is in the marketplace, we know the capabilities, and we know the costs. No other capability meets the V-22?s warfighting potential. The V-22 will enable U.S. forces to do many more things, across the entire spectrum of conflict, than any known alternative."
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The 46th Ordinary Annual General Meeting of Austrian Airlines AG has authorised the distribution of a dividend of EUR 0.30 per share for the business year 2000, after EUR 0.51 the previous year. The Austrian Airlines Group achieved a result form operating activities (EBIT) of EUR 83.8 million/ATS 1.153,1 million in 2000, and a profit before tax of EUR 41.0 million/ATS 564.2 million. Against the background of a positive annual result, but considerable strategic investments, the dividend for the business year 2000 was reduced to EUR 0.30. Austrian Airlines have implemented this reduction in order not to have a restrictive effect on the financial basis necessary for the continued expansion of the Group. In the medium term, however, Austrian Airlines shall endeavour to return to the higher dividend payments of recent years. Out of the balance sheet profit of EUR 10,415,602.35, shareholders will be paid a total of EUR 10.2 million (i.e. EUR 0.30 per share), and the remaining profit carried forward to the next year.
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Despite the strike staged by the Vereinigung Cockpit (VC) pilots union at airlines in the Lufthansa Group (Lufthansa passenger airline, Condor, Condor Berlin, Lufthansa Cargo), Lufthansa operated 180 flights on May 10, carrying more than 18,000 passengers. 900 of today's 1,128 scheduled services had to be cancelled. In German domestic and European traffic alone, Lufthansa operated thrice as many of the flights envisaged in the contingency timetable, since additional crews were available. The airline operated about 70 per cent of its intercontinental flights out of Frankfurt today and one flight from Munich to Hongkong. Lufthansa CityLine, Team Lufthansa partner carriers and Eurowings as well as the Star Alliance carriers and other partner airlines operated all their flights. Flight schedules returned largely to normal on Friday. Disruption is not anticipated in any of Lufthansa's long-haul flights from German airports, nor in German domestic or European air traffic out of Germany.
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Crews have begun installing the flight-ready shaft-driven lift fan in the Lockheed Martin Joint Strike Fighter X-35B at the company's Palmdale, Calif., plant. The flight engine is scheduled for installation next week, with engine runs planned by month's end. All flight-related activities are proceeding on schedule. First STOVL flight is targeted for late June or early July, when the aircraft begins a series of vertical takeoffs and landings. Transitions to and from STOVL and conventional-flight modes will follow.
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The U.S. Navy has awarded Boeing a $251.9 million, two-year contract to fund a new program designed to manage and improve logistics system performance affordably. The F/A-18E/F Integrated Readiness Support Teaming (FIRST) program is a unique U.S. Navy-industry partnership aimed at improving readiness and lowering support costs for the nation's newest strike fighter, the F/A-18E/F Super Hornet. The contract contains options which, if exercised, will bring the cumulative value of this contract to a potential value of $770 million. Under the contract Boeing will provide full logistics support of approximately 850 components unique to F/A-18E/F aircraft.
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On May 9, Northrop Grumman Corporation announced that it has offered to acquire Newport News Shipbuilding, citing concerns that the previously announced merger agreement between Newport News and General Dynamics Corporation would create an unhealthy monopoly, resulting in an unacceptable and anticompetitive consolidation of the U.S. shipbuilding industry. The Board of Directors of Northrop Grumman has authorized management to match General Dynamics' offer of $67.50 per share for all the outstanding shares of common stock of Newport News, payable 75 percent in Northrop Grumman stock, the remainder in cash. Northrop Grumman said it expects to commence an exchange offer shortly, subject to customary conditions.
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A NASA research mission will use an unpiloted aircraft, known as an "Uninhabited Aerial Vehicle" or "UAV," to aid Hawaiian coffee growers by providing the growers with spectral (or color) images of their crops. From this information the growers will know, down to the day, the best time for harvesting the beans, bringing the best flavor to consumers. Part of NASA's UAV-based science demonstration program, these flights will show the ability of this type of aircraft to carry Earth-viewing scientific payloads in long-duration missions at altitudes exceeding the endurance of a pilot in a traditional aircraft. These capabilities will benefit both U.S. scientific and commercial objectives well into the new millennium.
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Saab AB and Ericsson Microwave Systems AB have agreed on the acquisition by Saab of Ericsson's share (49.9%) in Ericsson Saab Avionics AB. This will take place by Ericsson Microwave System AB exercising an option in the Shareholders' Agreement to transfer its stake in the company to Saab AB. The merger in 1997 was an initial step in an active structuring of the two companies' operations in avionics and electronic warfare. This process is now being concluded through Saab's acquisition and will contribute to further concentration of the two companies' core areas. Saab will pay SEK 225 million for the shares. Ericsson Saab Avionics is the leading supplier of electronic systems for the Gripen. It has a total of 750 employees. Sales in 2000 amounted to SEK 1,028 million.
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The Boeing Board of Directors elected Harry Stonecipher to the position of vice chairman, effective immediately. Previously, Stonecipher held the title of president and chief operating officer. "Harry and I will continue to share the responsibilities of the Office of the Chairman, but as vice chairman, Harry will be less focused on day-to-day operations and more concentrated on those business opportunities likely to provide long-term growth," said Chairman and Chief Executive Officer Phil Condit. "This reflects the recent change in our corporate architecture, which directs the corporate staff to focus on new business opportunities while the CEOs of the three major business units focus on continuing operational improvements."
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Boeing has been awarded a $38.7 million contract by the U.S. Air Force to manufacture reengine kits and modify the KC-135 and RC-135 aircraft to "R"-model configuration. The contract was awarded by the Oklahoma City Air Logistics Center at Tinker Air Force Base. The firm fixed-price contract calls for Boeing to provide fabrication and assembly of three reengine kits for RC-135 reconnaissance aircraft along with the installation of previously procured reengine kits on three RC-135 aircraft and two KC-135 aircraft. This award, along with $1.78 million in advance funding awarded in November 2000, brings the total value of this work to $40.5 million.
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A Sea Launch Zenit-3SL rocket today successfully launched the XM "Roll'' satellite, completing Sea Launch's sixth successful mission. The three-stage rocket lifted off from the Odyssey Launch Platform on the Equator at 3:10 p.m. (PDT) and the spacecraft's first signal was acquired one hour and 10 minutes later as planned. "Roll'' is the second of two launches for XM Satellite Radio. On March 18, Sea Launch achieved equally outstanding accuracy when it successfully placed the XM-2 satellite, "Rock,'' into orbit. Built by Boeing Satellite Systems, "Rock'' and "Roll'' are the most powerful commercial spacecraft ever launched. The Zenit-3SL rocket lifted off the Launch Platform exactly on schedule from the equatorial launch site at 154 degrees West Longitude. All systems performed nominally throughout the flight. The Block DM upper stage separated from the spacecraft about 1,600 miles over the Indian Ocean, one hour and five minutes into the mission. Operators at a ground station in Perth, Australia, acquired a signal from the spacecraft approximately five minutes later. "Roll'' will be positioned in Geostationary Orbit at 85 degrees West Longitude.
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Cyprus Airways, an all-Airbus operator for nearly ten years, has restated its full confidence in Airbus products and is to further expand its Airbus fleet, with the addition of the single-aisle A319 and the long-range widebody twin A330-200, following the signature of a contract with Airbus for the purchase of two A319s, and the airline's commitment to lease two A330-200s from ILFC. Both types of aircraft, which, as members of Airbus fly-by-wire family, share the highest level of commonality, will join the carrier's fleet as part of its expansion and modernisation programme. Cyprus Airways and its charter subsidiary Eurocypria currently operate ten A320s and four A310s.
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Boeing confirmed that American Airlines has ordered 15 additional 767-300ER airplanes. Boeing will deliver the new airplanes beginning in 2002 and continuing through 2003. "This order for 15 more 767s confirms that this airplane is perfectly suited for American's long-haul routes," said John Quinlivan, vice president and general manager, Boeing 767 program. "The order also underscores the versatility and popularity of the 767-300ER." Quinlivan said the Boeing 767-300ER provides maximum efficiency, twin-aisle passenger cabin convenience, excellent fuel efficiency and modern airplane systems. American currently operates a fleet of 79 Boeing 767 airplanes on a variety of long-haul routes primarily over the Atlantic Ocean. Boeing 767s log more than 1,800 flights each week across the Atlantic.
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Government representatives from three European countries and from Brazil, Canada and Australia have requested and are receiving information from Lufthansa Technik AG (LHT) and EADS Airbus GmbH about their joint development of a multi-role transport. The Airbus A310 MRTT German Air Force Consortium, consisting of LHT and EADS, had been commissioned by Germany's defense ministry to increase the capabilities of the four multi-role transports already being converted so that by 2004 they will also be able to function as tanker aircraft. Invited to Hamburg by the German defense ministry, high-ranking officials from the countries' embassies and defense establishments visited the Lufthansa Technik facilities in Hamburg and witnessed an Airbus A310 in the process of being converted to a multi-role transport. The concept was explained to them by experts from the German defense ministry and from the LHT/EADS consortium. When equipped to function as a "flying hospital", the converted Airbus can be used to transport persons who have been wounded or are seriously ill. In that version the A310 will have as many as six intensive-care stations plus 56 berths for recumbent patients. Within no more than three days this multi-role transport can be converted into either of two other versions: a troop transport with 214 seats or a combination cargo and passenger aircraft with 54 seats. When converted into an aerial-refueling tanker, the A310 will be able, for example, to refuel Tornado fighter-bombers in flight.
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Besides serving as a platform for Research and Development, the International Space Station is also open for business. The three-day ISS Forum 2001, held in Berlin between 5 and 7 June, will show you just how open. At the Forum, you can enjoy a 3-D virtual reality tour of the ISS.A visit to ISS Forum 2001 is almost as good as a visit to the station itself - and you make more useful contacts too. The Forum will also cost you a good deal less than the $20 million paid by space tourist Dennis Tito for his ISS trip. You can meet many of the key people behind the project. These include leading figures in the US, European, Russian, Japanese and Canadian space agencies, as well as the three astronauts who formed the station's first crew. As a piece of orbiting engineering, the ISS is unique. So are the opportunities it can offer to companies on the leading edge of 21st-century business. At the Forum, you can join seminars led by recognized experts on business sectors from biotechnology to marketing, from material science to information technology.
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Cessna Aircraft Company has begun delivery of the new Skylane 182T and the Turbo Skylane T182T. Both aircraft incorporate aerodynamic speed enhancement modifications and include as standard equipment an upgraded Bendix King avionics suite which includes the new KMD 550 Multifunction Display. The new Skylane 182T has an improved cowling design and streamlined wheel fairings which increase the cruise speed to 144 knots. The Skylane 182T is offered at a base price of $242,000 which includes basic IFR instrumentation, Nav/Com with glideslope, audio panel with marker beacon, a two axis auto pilot and altitude reporting transponder. The NAV I package adds a second Nav/Com with glideslope, a KLN-94 color moving map GPS and the KMD 550. The NAV I equipped Skylane is priced at $259,000. The NAV II adds a KCS 55A HSI and a WX 500 Stormscope, bringing the total equipped price to $277,300.
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