Esterline Technologies, which warns that its third-quarter earnings will be lower than forecast because of programme delays in its sensors and systems segment, an accident last month at its UK Wallop Defence Systems advanced materials subsidiary, and export issues between the USA and China in its avionics and controls division. The company is forecasting earnings per share between $0.40 and $0.45. Its share price fell from over $40 to as low as $32 after the announcement.
"[It will be better than] the gold-plated Taj Mahal proposed by the BAA airport monopoly."
Michael O'Leary, Ryanair chief executive, on new BAA owner Ferrovial's scaled-down plans for a second terminal at London Stansted
Source: Flight International