Business World

Saturday 21 October 2017

Dublin Aerospace nets easyJet deal

AVIATION

DUBLIN Aerospace has been awarded a five-year contract with easyJet for the overhaul of its A319 series aircraft landing gears and a contract to carry out the embodiment of a number of wing rear spar inspection service bulletins on its Airbus A320 family fleet.

The new contract --which will begin at Dublin Airport from January 2011 -- is said to be a huge boost to Dublin Aerospace. It also triggers a $5.1m (€3.7m) investment by the firm in expanding its existing facility over the next year.

Third of mobile set market is non-brand

TELECOMS

THE world's leading mobile phone makers are losing market share to non-brand manufacturers, according to research. Analysts at Gartner said smaller, Asian companies accounted for a third of worldwide handset sales in July, August and September. Nokia is still the biggest seller of mobiles, followed by Samsung and LG. Gartner said 417 million phones were sold globally during the period -- an increase of 35pc from the year before.

China's trade surplus increases sharply

TRADE

CHINA'S trade surplus in October hit its second highest level this year. Exports rose 22.9pc on last year and imports were up 25.3pc, despite new data showing China's expansion is easing. The $27.1bn (€19.7bn) surplus was up sharply on September's $16.9bn and was just behind the year's high of $28.7bn, reached in July. The rise may increase criticism in Washington that Beijing is keeping its currency artificially low to boost exports.

Fall in third quarter earnings at ING

BANKS

ING, the bailed-out Dutch bank and insurer, yesterday reported a fall in third quarter earnings after writing down the value of its US insurance operations, and said it planned to spin off both its US and European insurance arms with separate initial public stock offerings. Net profit was €371m, down from €499m in the same period a year ago, and included a €513m write-down on the value of its US insurance arm. ING said its banking division enjoyed good margins during the quarter, and that it also took fewer charges for bad loans and enjoyed better profits on investments.

Irish Independent

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