Sikorsky helps Aero Vodochody reach profit again

Sikorsky helps Aero Vodochody reach profit again

8-Sep-2010 Source: Aero Vodochody

AERO Vodochody a.s. reached a profit in the amount of CZK 279 million in 2009. Aero is thus reaching a profit this being since successful completion of restructuring in 2007, when the company was acquired by the Penta group. The revenues of Aero reached CZK 2.9 billion in 2009.

The profit of Aero in 2009 was significantly influenced mainly by cooperative programs, for example the production and sales of the Sikorsky helicopters. Other aerostructures significantly contributing to revenues were the Alenia C-27J program producing the entire centre wing part for the C-27J Spartan military transportation aircraft, further the F/A-18 – gun bay door program for the Boeing company, sub-assemblies for the EADS concern, pylons for JAS-39 Gripen, and Embraer 170/190 aircraft door sub-assemblies for Latecoere. Defence & MRO division contributed to revenues in 19 %, mainly from performance of contracts with the Ministry of Defence of the Czech Republic and support of all aircraft produced in Aero and serving in many armed forces in the world.

„In 2009, Aero faced adverse situations in the aerospace market. Virtually all areas of civil aviation program have been affected by significant reductions in demand, but Aero has succeeded to respond to this negative swing accordingly. Relatively significant cost reductions were done, thanks to successful start-up of activities in the field of “lean management” it was possible to maintain profitability at a decent level and also to lay the foundation of long-term maintenance of competitiveness,“ said prasident of the company Ladislav Simek.

In 2009 Aero signed its first rish-share project with Belgium company Sonaca. Aero is involved in development of wing fixed leading edge for a new and innovative CSeries aircraft for the Canadian aerospace manufacturer Bombardier. Significant success for Aero was also new contract form February 2010 on manufacturing of a cockpit for the UH-60M Black Hawk helicopter. In 2009 Aero invested in renewal of machine fleet and technology a total amount of CZK 129 million.

AERO Vodochody a.s. is the largest aerospace manufacturer in the Czech Republic, mainly focusing on cooperation with leading aerospace manufacturers in international aerostructures projects – Sikorsky Aircraft Corporation (S-76C helicopter), Alenia Aeronautica (C-27J Spartan center wing box), Sonaca (Bombardier CSeries Fixed Leading Edge Development & Production), Latecoere (Embraer 170/190 subassemblies), Saab (JAS-39 Gripen pylons), Spirit Aerosystems (B767 fixed leading edge kits), EADS (A320/340 subassemblies), etc. The Military Program of Aero is historically the largest producer of jet training aircraft and a partner to several air forces, particularly the Czech Air Force. This year, Aero celebrates 90 years since its foundation and thus ranks among the oldest aerospace manufacturers in the world.

AERO Vodochody a.s., based in Odolena Voda, Dolinek, U Letiste 374, 250 70, Czech Republic, is a joint-stock company registered in the Companies Register maintained by the Municipal Court in Prague, Section B, File 449 on January 2, 1991, Identification number: 00010545, VAT: CZ00010545. The sole shareholder of the Company is private equity group Penta Investments.

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