PEMCO World Air Services announced the completion and delivery of its 10th converted aircraft for China Postal Airlines, a Boeing 737-400F.
ST Engineering announced EcoServices has exercised a purchase option with Pratt & Whitney for the use and acquisition of its intellectual property assets for an aggregate cost of $25.2 million. EcoServices will now fully own, manage and protect its own portfolio of intellectual property assets.
HAECO had HK$477 million ($61.5 million) net profit in 2012, down 9.1% from the HK$525 million earned in 2011. Turnover increased 12.7% year-over-year to HK$5.8 billion. It said demand for airframe maintenance and line maintenance in Hong Kong was strong, and it handled 4.6% more aircraft movements in 2012. It was not able to meet the demand for airframe maintenance in the second half of the year due to a shortage of skilled and semi-skilled labor.
Saab elected Sara Mazur to its board of directors. Mazur is VP and head of Ericsson Research, Ericsson AB.