Latest news with #767
Yahoo
21-05-2025
- Business
- Yahoo
TAT Technologies Expands MRO Partnership with Leading International Cargo Carrier; APU maintenance for Boeing 737, 757, 767, and Airbus A300 fleets
TAT Technologies Expands MRO Partnership with Leading International Cargo Carrier; 5-Year Contract Valued at $40-55 Million Agreement expands APU maintenance support for Boeing 737, 757, 767, and Airbus A300 fleets and adds support for Boeing 777 fleets NETANYA, Israel, May 21, 2025 /PRNewswire/ -- TAT Technologies Ltd. (NASDAQ: TATT), (TASE: TAT Tech), a leading provider of innovative products and services for the commercial and defense aviation markets, announced today the signing of a five-year maintenance, repair, and overhaul (MRO) agreement with one of the world's leading cargo carriers. This agreement is a 5-year extension of an existing contract for APU repairs on the U.S. fleet of 767 and 757 aircraft, now expanded to support the carrier's global fleet. Additionally, under this extension, TAT will provide repair services for two new APU platforms: B737 and A300. The company was also awarded the 777 APU contract for the next 7 years. The parties are expecting to sign the extension for the 777 APU during May- June 2025. The total value of the contracts (including the awarded but not yet signed contract) is estimated to be between $40 million to $55 million over the next five years. This significant agreement builds on the strong collaboration between the parties in recent years, culminating in this global fleetwide support contract. It underscores TAT's growing leadership position in the APU MRO market and the company's commitment to delivering superior service solutions to major aviation customers. Igal Zamir, President and Chief Executive Officer of TAT Technologies, stated: "We are honored to have won this contract which deepens our relationship with an important international cargo customer. The expansion of our existing contract and the addition of new services to this partnership serves as a powerful testament to the strength of our brand and our proven capabilities in the APU MRO business, delivered through our Piedmont Components Services subsidiary. This important win is further validation of our Customer First initiative and our Customer Partnership strategy, as well as the successful go-to-market strategy for our new APU capabilities." About TAT Technologies LTD TAT Technologies Ltd. is a leading provider of services and products to the commercial and military aerospace and ground defense industries. TAT operates under four segments: (i) Original equipment manufacturing ("OEM") of heat transfer solutions and aviation accessories through its Gedera facility; (ii) MRO services for heat transfer components and OEM of heat transfer solutions through its Limco subsidiary; (iii) MRO services for aviation components through its Piedmont subsidiary; and (iv) Overhaul and coating of jet engine components through its Turbochrome subsidiary. TAT controlling shareholders is the FIMI Private Equity Fund. TAT's activities in the area of OEM of heat transfer solutions and aviation accessories primarily include the design, development and manufacture of (i) broad range of heat transfer solutions, such as pre-coolers heat exchangers and oil/fuel hydraulic heat exchangers, used in mechanical and electronic systems on board commercial, military and business aircraft; (ii) environmental control and power electronics cooling systems installed on board aircraft in and ground applications; and (iii) a variety of other mechanical aircraft accessories and systems such as pumps, valves, and turbine power units. TAT's activities in the area of MRO Services for heat transfer components and OEM of heat transfer solutions primarily include the MRO of heat transfer components and to a lesser extent, the manufacturing of certain heat transfer solutions. TAT's Limco subsidiary operates an FAA-certified repair station, which provides heat transfer MRO services for airlines, air cargo carriers, maintenance service centers and the military. TAT's activities in the area of MRO services for aviation components include the MRO of APUs, landing gears and other aircraft components. TAT's Piedmont subsidiary operates an FAA-certified repair station, which provides aircraft component MRO services for airlines, air cargo carriers, maintenance service centers and the military. TAT's activities in the area of overhaul and coating of jet engine components includes the overhaul and coating of jet engine components, including turbine vanes and blades, fan blades, variable inlet guide vanes and afterburner flaps. For more information of TAT Technologies Ltd., please visit our website: Contact:Mr. Eran YungerDirector of IRTel: +1-980-451-1115erany@ Safe Harbor for Forward-Looking Statements This press release contains forward-looking statements, which include, without limitation, statements regarding the expanded MRO partnership, anticipated timing of signing the extension, and the length of the contract extension. These statements are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause our results to differ materially from management's current expectations. Actual results and performance can also be influenced by other risks that we face in running our operations including, but are not limited to, general business conditions in the airline industry, changes in demand for our services and products, the timing and amount or cancellation of orders, the price and continuity of supply of component parts used in our operations, the change of control that will occur on the sale by the receiver of the Company's shares held by our previously controlling stockholders, and other risks detailed from time to time in the Company's filings with the Securities Exchange Commission, including, its annual report on form 20-F and its periodic reports on form 6-K. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement. View original content: SOURCE TAT Technologies Ltd. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TimesLIVE
10-05-2025
- TimesLIVE
Former police station commander convicted of fraud for travel scam
The former commander of Port Alfred police station in the Eastern Cape has been convicted of defrauding the SAPS by submitting fake travel claims. Col Ncamisa Donkrag was convicted and sentenced on two counts of fraud at the Port Alfred regional court on Friday. 'This comes after she pleaded guilty to defrauding the SAPS on two separate occasions,' said police spokesperson W/O Majola Nkohli. 'On the first, she pretended that she travelled using her private vehicle in May 2022 from Port Alfred to Port Edward, eMaXesibeni (Mount Ayliff), Mzamba, the Wild Coast and back to Port Alfred, and was reimbursed for the trip an amount of R8,062. On the second occasion, she pretended that in September 2022, she travelled from Port Alfred to respectively Zwelitsha, Addo and back to Port Alfred. She was again reimbursed for the trip an amount of R4,705.' The two counts were combined for the purpose of sentence. Donkrag was sentenced to five years' imprisonment, wholly suspended for five years on condition she is not convicted of theft or fraud committed during the period of suspension. She was also ordered to compensate the SAPS to the tune of R12,767. Acting Sarah Baartman District police commissioner Brig Asogran Naidoo said: 'This sentence will serve as a deterrent to those who may be tempted to commit similar offences. Such an outcome reflects that no matter what position one holds in the SAPS, nobody is above the law.'
Time of India
04-05-2025
- Business
- Time of India
ECI to launch unified digital platform ECINET to streamline electoral services
New Delhi [India], May 4 (ANI): In a significant step towards streamlining electoral services , the Election Commission of India (ECI) will be launching a single-point digital platform called ECINET to integrate the commission's 40 existing mobile and web applications, the ECI said on Sunday. #Pahalgam Terrorist Attack India much better equipped to target cross-border terror since Balakot India conducts maiden flight-trials of stratospheric airship platform Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad The ECI said that the platform will be offering a seamless and user-friendly interface for electors, election officials, political parties, and civil society. The initiative, envisioned by Chief Election Commissioner (CEC) Gyanesh Kumar during the March Conference of Chief Electoral Officers, aims to simplify user experience (UX) and enhance user interface (UI) by consolidating apps like the Voter Helpline , Voter Turnout, cVIGIL, Suvidha 2.0, ESMS, Saksham, and KYC App, which have collectively recorded over 5.5 crore downloads. "ECINET will subsume existing Apps like the Voter Helpline App, Voter Turnout App, cVIGIL, Suvidha 2.0, ESMS, Saksham and KYC App, which together have clocked over 5.5 crore downloads," the ECI said in a release. The ECI also noted that the ECINET will serve nearly 100 crore electors, support the electoral machinery, and eliminate the need for multiple app downloads and logins, reducing users' complexity. Live Events "ECINET is expected to benefit nearly 100 crore electors and the entire electoral machinery comprising over 10.5 lakh Booth Level Officers (BLOs), around 15 Lakh Booth Level Agents (BLAs) appointed by Political Parties, nearly 45 Lakh Polling Officials, 15,597 Assistant Electoral Registration Officers (AEROs), 4,123 EROs and 767 District Election Officers (DEOs) across the country," it said. "ECINET has already reached an advanced stage of development and rigorous trials are being conducted to ensure smooth functionality, ease of use, and robust cybersecurity measures ," it added. The platform was developed after extensive consultations with 36 Chief Electoral Officers, 767 DEOS, 4,123 EROS, and a review of 76 ECI publications spanning 9,000 pages. It is currently undergoing rigorous trials to ensure functionality, ease of use, and robust cybersecurity. "It is being developed after an elaborate consultative exercise involving 36 CEOs of all the States/UTs, 767 DEOs and 4,123 EROs of their States/UTs and after reviewing 76 publications comprising 9,000 pages of the electoral framework, instructions and handbooks issued by ECI from time to time. The data provided through ECINET will be strictly aligned within the legal framework established by the Representation of People Act 1950, 1951, Registration of Electoral Rules, 1960 Conduct of Election Rules, 1961 and instructions issued by ECI from time to time," the ECI said. ECINET, in its advanced stage of development, is poised to revolutionise electoral service delivery, enhancing convenience and efficiency for all stakeholders.
Yahoo
24-04-2025
- Business
- Yahoo
Boeing Co (BA) Q1 2025 Earnings Call Highlights: Strong Revenue Growth Amid Tariff Challenges
Revenue: $19.5 billion, up 18% driven by higher commercial delivery volume. Core Loss Per Share: $0.49, a significant improvement compared to last year. Free Cash Flow: Usage of $2.3 billion, reflecting higher commercial deliveries and improved working capital usage. BCA Revenue: $8.1 billion with an operating margin of minus 6.6%. BCA Deliveries: 130 airplanes in the quarter. BCA Backlog: $460 billion, up more than $25 billion sequentially. BDS Revenue: $6.3 billion, down 9% on planned lower volume. BDS Operating Margin: 2.5%, up 30 basis points compared to last year. BGS Revenue: $5.1 billion, stable year-over-year. BGS Operating Margin: 18.6%, up 40 basis points compared to last year. Cash and Marketable Securities: $23.7 billion. Debt Balance: $53.6 billion, down $300 million. Warning! GuruFocus has detected 4 Warning Signs with BA. Release Date: April 23, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Boeing Co (NYSE:BA) delivered 130 airplanes in the first quarter, exceeding internal expectations. The company won the F-47 program, securing its position in the sixth-generation fighter market. Boeing Co (NYSE:BA) reported an 18% increase in revenue, driven by higher commercial delivery volume. The company is on track to increase 737 MAX production to 38 per month, with plans to further increase to 42 per month. Boeing Co (NYSE:BA) completed the 100th 767 freighter conversion, marking a significant milestone in its BGS business. Boeing Co (NYSE:BA) is facing potential challenges due to tariffs, particularly affecting deliveries to China. The company reported a core loss per share of $0.49, despite improvements from the previous year. Free cash flow was a usage of $2.3 billion in the quarter, reflecting ongoing financial pressures. Boeing Co (NYSE:BA) continues to face seat certification issues affecting some 787 deliveries. The company is managing risks related to retaliatory tariffs and input costs, which could impact future financial performance. Q: How is Boeing interacting with Washington to address the tariff environment, and what are the expectations for resolving these issues? A: Kelly Ortberg, President and CEO, stated that Boeing is actively engaged with the administration, including cabinet secretaries and the President, to emphasize the importance of a tariff-free environment for the aviation industry. Ortberg expressed hope for negotiated agreements to resolve the tariff issues, particularly with China, and emphasized the need to manage the situation proactively to avoid impacting Boeing's recovery and production stability. Q: What are Boeing's delivery expectations for the 737 and 787 programs, considering the impact of China tariffs? A: Brian West, CFO, confirmed that Boeing still expects to deliver around 400 737s and approximately 80 787s this year. Despite the potential impact of China tariffs, Boeing had a strong start to the year, which should help offset any delivery pressures. The company plans to ramp up production rates for both programs in the coming months. Q: Can you provide details on the financial impact of tariffs on Boeing's supply chain and the potential cost implications? A: Brian West explained that the net annual impact of higher tariffs on input costs is manageable and within Boeing's plan, estimated at less than $500 million annually. Boeing is leveraging duty drawback opportunities and working with suppliers to mitigate cost pressures. The company is confident in its ability to manage these impacts through established trade and supply chain strategies. Q: What is the status of Boeing's key performance indicators (KPIs) for the 737 and 787 programs, and how is the company addressing supply chain risks? A: Kelly Ortberg reported that the KPIs for the 787 program are all green, indicating stability. For the 737 program, rework is still being reduced, but progress is on track. Boeing is actively managing supply chain risks, including the impact of the SPS fire, and expects to maintain production continuity without significant disruptions. Q: How does Boeing plan to manage production rate increases, and what role does the FAA play in this process? A: Kelly Ortberg stated that Boeing will work closely with the FAA for each production rate increase, ensuring stable KPIs before proceeding. The company plans to increase rates in increments, with a focus on maintaining stability. The FAA is involved in reviewing metrics and ensuring compliance with safety and quality standards. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Euronews
23-04-2025
- Business
- Euronews
Boeing sees losses narrow, shares soar as jet deliveries increase
ADVERTISEMENT US aerospace giant Boeing Co reported its first quarter 2025 earnings on Wednesday, recording robust revenues, while operating margins also became positive. This was mainly due to aircraft deliveries rising in the first quarter, with Boeing delivering 105 737 jets in the three months ended 31 March, compared to 67 in the same quarter in 2024. Revenue for the first quarter of the year soared 18% on an annual basis to $19.4 billion (€17.1bn), with earnings from operations coming up to $461 million (€405.8m). Operating margins were 2.4% in Q1 2025, compared to -0.5% in the first quarter of 2024. Net loss narrowed to $31m (€27.3m) in the last quarter, in contrast with $355m (€312.4m) in Q1 2024. Operating cash flow also came down to $1.6bn (€1.4bn) in the first quarter, down from $3.4bn (€3bn) in the corresponding quarter last year. Boeing's shares jumped 5.7% on the New York Stock Exchange (NYSE) on Wednesday afternoon around 4:12 pm CEST. The company delivered five 767 jets between January to March this year, compared to 3 in the same period last year. Seven 777 jets were also delivered in the first quarter, up from none in the corresponding quarter in 2024. However, deliveries of the 787 aircrafts remained steady at 13 in the first quarter this year. Boeing has revealed that it still expects 737 aircraft production to reach 38 per month this year. These strong figures could point towards the company potentially starting to recover somewhat following a particularly challenging period fraught with quality control and safety issues. It could also highlight its efforts to improve execution, stabilise operations and slowly rebuild trust with stakeholders and clients. Boeing could be significantly vulnerable to tariffs Boeing, like several other major aerospace companies, could be considerably impacted by the current escalating tariff war between the US and China. This is especially following aircrafts which were meant for Chinese airlines being returned to the US recently, according to flight data cited by Reuters. At the moment, the US has imposed tariffs of up to 145% against China, with China retaliating with levies of 125% on imports from the US. With jets such as the 737 Max already being significantly expensive, these extra tariffs can make them prohibitively expensive, unless airlines overhaul their current business models. These extra costs could add considerably to Boeing's existing challenges which include production delays, safety concerns, financial losses, technical and regulatory issues, as well as a major loss in consumer and investor confidence. ADVERTISEMENT These tariffs could also cause airlines to delay deliveries and production, as they decide on the path forward.
