FiatAvio, the aerospace division of the Italian conglomerate, saw net profits more than quadruple to L152 billion ($85 million) last year against L34 billion 1997, with turnover rising 8% to L2,635 billion.

Overall, says Turin-based Fiat, the division "performed exceptionally well" last year, with its operating margin up from 4.5% to 5.1%.

Fiat adds that all elements of the division were profitable.

Source: Flight International