Good week

 © AgustaWestland
FINMECCANICA Pre-tax profits for 2009 were up nearly 11% to €1.1 billion for the Italian aerospace group on revenue up by 21% to €18.2 billion. Defence and security electronics led, with the acquisition of DRS Technologies in the USA helping boost sector revenue 54% to €6.7 billion, while AgustaWestland helicopters unit revenue grew 15% to nearly €3.5 billion. Aeronautics companies, including Alenia Aeronautica and Alenia Aermacchi, were up 4.45% to €2.6 billion.


Bad week

Aer Lingus
 © Aer Lingus
AER LINGUS The loss-making Irish flag carrier is going to restructure - that is, get smaller - but not by as much as it might like. Pilots backed a cost-cutting plan that will trim 15% of jobs and cut pay by 10% and some other unions followed suit. The exception was cabin crew, who voted "no" and will lose 230 jobs. Had all unions said "no", management's back-up plan was to axe 1,065 jobs; whether bosses would have preferred that outcome remains unclear.



Source: Flight International