PARIS -- EADS NV, the parent company of plane-maker Airbus, raised its outlook for 2010 - despite a 61 percent drop in second quarter earnings - as a rash of new aircraft orders boosted hopes that a painful two-year downturn is over. [Links] [Related]
Defense contractor Northrop Grumman, which is relocating to Northern Virginia, said Thursday that its second-quarter profit rose nearly 81 percent, fueled by increased sales as well as a tax benefit of nearly $300 million. [Links] [Related]
Falls Church-based General Dynamics said Wednesday that its second-quarter profit grew nearly 5 percent, propelled by increased earnings from its communications and information technology group. [Links] [Related]
MINNEAPOLIS -- Boeing's second-quarter profit fell 21 percent, and it said layoffs are likely in its defense business because of expected government spending cuts and bargain-hunting. [Links] [Related]
Lockheed Martin, the world's largest defense contractor, said Tuesday that its second-quarter profit rose 12 percent as sales increased in all of its operating groups. [Links] [Related]
WASHINGTON -- Defense contractor Lockheed Martin Corp. said Tuesday that its second-quarter profit rose 12 percent thanks to stronger military hardware sales and a gain from plans to sell off a business unit. [Links] [Related]
HARTFORD, Conn. -- United Technologies will cut another 1,500 this year and next on top of the 900 positions it has already eliminated in 2010, the company said Monday. [Links] [Related]
Lani Hay was born shortly after her family emigrated to Manassas from Vietnam, only weeks before that country's communist takeover in 1975. At a young age, she determined that education and hard work would be the keys to success. She holds a bachelor of science degree from the Naval Academy, an MBAfrom the College of William and Mary and a master's certificate in government contracting from George Washington University. As founder, president and chief executive of Lanmark Technology, she oversees a company that contracts with the federal government for technical services. In less than a decade, LMT has grown from a one-woman consulting firm to a multimillion-dollar enterprise that was recently awarded a half-billion-dollar contract by the Defense Department. Hay, 35, a former Navy aviator and intelligence officer, has been recognized by the Small Business Administration as the national minority small businessperson of the year. Hay, who lives in the District, responded to questions via e-mail. [Links] [Related]
The announcement that Lawrence B. Prior III, president of Fairfax-based contractor ManTech, would take over BAE Systems' services business could be viewed as a straightforward personnel move. [Links] [Related]
Federal investigators have identified about 20 Pentagon employees and contractors who allegedly bought and downloaded online child pornography and in some cases used their government-issued computers to view the illegal material. [Links] [Related]
FARNBOROUGH, England -- There was an even louder sound than the roar of jet engines during the daily flying display at the Farnborough International Airshow this week - a collective sigh of relief from the civil aviation industry. [Links] [Related]
FARNBOROUGH, England -- Bombardier failed to fulfil expectations for an attention-grabbing order for its much-touted C-Series single-aisle airliner at the Farnborough International Airshow, but the Canadian plane maker insists it remains a potential rival to existing offerings from Boeing and Airbus. [Links] [Related]
ABOVE THE ENGLISH CHANNEL -- Flying over the white cliffs of Dover, the two pilots of a Gulfstream 450 jet keep their eyes glued to a flight-deck display, ignoring the almost cloudless sky over the southern coast of England on their descent to a nearby runway. [Links] [Related]
Airbus won 130 contracts with a list price of $13 billion, edging out Boeing on 103 orders worth $10 billion. The European company also announced $15 billion of pledges versus $4 billion at Boeing. In the regional market, Brazil's Embraer trumped Bombardier Inc., which failed to win new buyers for its CSeries. [Links] [Related]
HARTFORD, Conn. -- United Technologies Corp. said Wednesday that its second-quarter profit jumped nearly 14 percent and revenue rose for the first time in nearly two years as aerospace and refrigerated transportation orders improved. [Links] [Related]
FARNBOROUGH, England -- Plane makers notched up orders worth more than $28 billion at the Farnborough International Airshow by the close of the event's third day, underscoring a revival in commercial aviation even as budget cuts keep the defense sector in the doldrums. [Links] [Related]
GENEVA -- The European Union appealed on Wednesday a landmark trade ruling that found it gave planemaker Airbus a wide range of illegal subsidies in its battle with U.S. competitor Boeing Co., unfairly tilting a market worth more than $3 trillion over the next two decades. [Links] [Related]
Frank H. Austin Jr., 86, who spent many years as a Navy flight surgeon and later resigned amid controversy from a post as the top medical officer for the Federal Aviation Administration, died June 22 at Virginia Hospital Center in Arlington. He had Alzheimer's disease. [Links] [Related]
FARNBOROUGH, England -- The stream of plane orders continued at the Farnborough International Airshow on Tuesday, taking the tally past $25 billion and underscoring hopes of a resurgence in the aviation sector after a painful two-year downturn. [Links] [Related]
FARNBOROUGH, England -- Boeing Co. and European arch rival Airbus racked up billions of dollars worth of aircraft sales at the Farnborough International Airshow on Monday, raising hopes that the aviation industry has touched the bottom of a deep two-year downturn. [Links] [Related]
FARNBOROUGH, England -- Arch rivals Boeing Co. and Airbus announced new orders worth almost $13 billion at the start of the Farnborough International Airshow on Monday, raising hopes that the aviation industry is on the way back up after a dire two-year slump. [Links] [Related]
July 19 (Bloomberg) -- Airbus SAS and Boeing Co. are poised to win orders this week from plane-leasing companies returning to the market after the economic crisis, said four people familiar with the planned announcements. [Links] [Related]
FARNBOROUGH, England -- Boeing Co.'s long-anticipated 787 jet touched down on British soil Sunday, tipping its wings to the crowd and building buzz at the Farnborough International Airshow, the industry's premier event. [Links] [Related]
An eight-year-old policy that forbids government contractors and employees to engage in sex trafficking in war zones has proved almost impossible to enforce amid indications that such activities are occurring in Iraq and Afghanistan. [Links] [Related]
Bethesda defense giant Lockheed Martin said Friday that it secured a roughly $9 billion deal to sell the Canadian government 65 of its new fighter jets, a move that industry analysts called a positive sign for one of the company's biggest and most closely watched programs. [Links] [Related]
LONDON -- The slow global economic recovery and sharp cuts to national defense budgets are expected to blow a chill wind through the Farnborough International Airshow next week. [Links] [Related]
Northrop Grumman, one of the Navy's biggest contractors, said Wednesday that it plans to close one of its seven shipbuilding yards and may sell or spin off its entire naval business, signaling a major shift in its strategy. [Links] [Related]
July 15 (Bloomberg) -- A sale by Northrop Grumman Corp. of its shipbuilding unit to General Dynamics Corp. would trigger competition concerns, the U.S. Defense Department said. [Links] [Related]
July 15 (Bloomberg) -- U.K. prosecutors plan to send as much as 30 million pounds ($45.7 million) from a BAE Systems Plc bribery-probe settlement to Tanzania, the country where officials took the payoffs, in an approach their U.S. counterparts reject. [Links] [Related]
July 15 (Bloomberg) -- U.K. prosecutors plan to send as much as 30 million pounds ($45.7 million) from a BAE Systems Plc bribery-probe settlement to Tanzania, the country where officials took the payoffs, in an approach their U.S. counterparts reject. [Links] [Related]
Arlington National Cemetery's deputy superintendent has retired before Army officials could compel him to meet with a Senate Homeland Security subcommittee investigating contracting irregularities, including more than $5 million paid to a series of minority-owned start-up companies that failed to produce a digitized system for cataloguing remains. [Links] [Related]
Northrop said today it has interested parties and may take several quarters to decide on a spinoff or sale. Those options, coming after nine years of expansion, are part of a strategic review, according to Northrop. The company didn't give a timetable for a decision. [Links] [Related]
July 14 (Bloomberg) -- Northrop Grumman Corp., the largest maker of U.S. Navy vessels, rose the most in two months in New York trading after saying it's considering a sale or spinoff of its shipbuilding unit. [Links] [Related]
Those options are part of a strategic review, according to Northrop, which scheduled a conference call today at 10:30 a.m. New York time. Credit Suisse Group AG will be Northrop's lead financial adviser, assisted by Perella Weinberg Partners LP. The company didn't give a timetable for a decision. [Links] [Related]
Europe's biggest defense contractor reached a deal this year with the U.K. Serious Fraud Office to end a five-year probe into whether it enticed Tanzanian officials to buy a radar system with payments. Under the proposed settlement, which needs a court's approval, the SFO will ask that most of the 30 million pounds BAE is paying go to Tanzania as the agency's director, Richard Alderman, pushes to return money to corruption victims. [Links] [Related]
July 14 (Bloomberg) -- Northrop Grumman Corp., the largest maker of U.S. Navy vessels, rose the most in two months in New York trading after saying it's considering a sale or spinoff of its shipbuilding unit. [Links] [Related]
July 14 (Bloomberg) -- Northrop Grumman Corp., the largest maker of U.S. Navy vessels, rose the most in two months in New York trading after saying it's considering a sale or spinoff of its shipbuilding unit. [Links] [Related]
