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☆ GKN Aerospace-owner Melrose lifts 2023 profit expectations
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Hannah McKay/File Photo Acquire Licensing RightsNov 16 (Reuters) - British aerospace supplier Melrose (MRON.L) said on Thursday it expected 2023 profit to be 7% higher than its previous expectations, partly driven by stronger aftermarket demand and improved pricing. The owner of GKN Aerospace, which counts Airbus (AIR.PA) and Boeing (BA.N) as its top customers, said trading and margin performance during the four month ended Oct. 31 was better than its previous expectations. Melrose, which spun off its auto and other businesses in April to become a pure-play aerospace supplier, now expects an adjusted core profit of 680 million pounds to 700 million pounds ($842.5-$867.2 million) for the year ending Dec. 31. In September, Melrose flagged a potential cash hit of about 200 million pounds through 2026 after Pratt & Whitney parent RTX (RTX.N) warned of grounding of some engine variants for quality checks. GKN Aerospace has a 4% programme share on the GTF PW1100G variant impacted by this issue.

Persons: Hannah McKay, Pratt & Whitney, Yadarisa Shabong, Aby Jose Koilparambil, Savio D'Souza Organizations: REUTERS, Melrose, GKN Aerospace, Boeing, Pratt &, Thomson Locations: GKN, Redditch, Britain, British, Bengaluru

☆ US Air Force's new B-21 Raider "flying wing" bomber takes first flight - Reuters witness
▼ + stars: | 2023-11-10 | by ( Mike Stone | ) www.reuters.com time to read: +3 min

However, the Air Force has kept other price information classified, "which makes validating the proposed cost difficult," the Congressional Research Service said in a 2021 report. The Air Force plans to buy at least 100 of the planes and begin to replace B-1 and B-2 bombers. Ann Stefanek, an Air Force spokesperson said, "The B-21 Raider is in flight testing. Flight testing is a critical step in the test campaign managed by the Air Force Test Center and 412th Test Wings B-21 Combined Test Force." In early 2022, the Air Force further delayed it until 2023.

Persons: David Swanson, Ann Stefanek, Lockheed Martin, Northrop, Mike Stone, Valerie Insinna, Franklin Paul Organizations: United States Air, Northrop, Air Force, REUTERS, U.S, Air Force's, Northrop Grumman, Congressional Research Service, Pentagon, Air Force Test Center, Force, Boeing, Lockheed, Pratt, Whitney, Collins Aerospace, GKN Aerospace, BAE Systems, Franklin Paul Our, Thomson Locations: Palmdale , California, U.S, Washington

☆ UK stocks fall as real estate shares drop; economic data on tap
▼ + stars: | 2023-11-06 | by ( Shubham Batra | ) www.reuters.com time to read: +2 min

REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies Real estate shares top losersMelrose surges after unit signs deal with GE AerospaceFTSE 100 down 0.1%, FTSE 250 off 0.4%Nov 6 (Reuters) - UK stocks inched lower on Monday led by a drop in shares of real estate investment trusts, while investors awaited key economic data to assess the strength of the British economy. The commodity-heavy FTSE 100 (.FTSE) edged 0.1% lower, while the mid-cap index FTSE 250 (.FTMC) fell 0.4% after logging its best week in a year on Friday. Shares of real estate investment trusts (.FTNMX351020) shed 1.2% after the index tracking real estate stocks rose sharply last week. Other economic data this week includes housing prices, construction and services activity for October. Reporting by Shubham Batra in Bengaluru; Editing by Varun H K and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Sanjay Raja, Andrew Bailey, Shubham Batra, Varun, Eileen Soreng Organizations: London Stock Exchange Group, City of, REUTERS, Real, Melrose, GE Aerospace FTSE, Aerospace, Melrose Industries, GKN Aerospace, GE Aerospace, Deutsche Bank, Bank of England, Wizz, Ryanair, JD Sports, Citigroup, Thomson Locations: City, City of London, Britain, Irish, Bengaluru

☆ Northrop Grumman unveils B-21 nuclear bomber for U.S. Air Force
▼ + stars: | 2022-12-02 | by ( Mike Stone | ) www.reuters.com time to read: +2 min

[1/5] Northrop Grumman unveils the B-21 Raider, a new high-tech stealth bomber developed for the U.S. Air Force, during an event in Palmdale, California, U.S., December 2, 2022. REUTERS/David SwansonWASHINGTON, Dec 2 (Reuters) - Northrop Grumman Corp (NOC.N) on Friday rolled out its new B-21 "Raider" jet, the first of a new fleet of long-range stealth nuclear bombers for the United States Air Force. The B-21 was unveiled during a dramatic ceremony at Northrop's Plant 42 in Palmdale, California, offering members of the public the first look at the new bomber. The Air Force planned to buy at least 100 of the planes and begin to replace B-1 and B-2 bombers. More than 8,000 people from Northrop Grumman, industry partners and the Air Force currently work on the program.

☆ Meet 11 people leading the aviation industry's push to slash emissions and ditch fossil fuels
▼ + stars: | 2022-05-31 | by ( Maia Anderson | ) www.businessinsider.com time to read: +14 min

Experts have estimated that aviation is responsible for nearly 2% of global greenhouse-gas emissions and 2.5% of carbon-dioxide emissions. Some aviation giants, like United, are signing purchase agreements to buy electric aircraft. Today he serves as CEO and chairman of the company, which aims to be a pioneer in electric aircraft. In 2000 he founded Aviation Technology Group, which developed the ATG Javelin very light jet before ceasing operations in 2007. He is also a founding member of the Nordic Network for Electric Aviation.

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