Aerostar Confirms 25% Profit Increase

Romanian aerostructure supplier and MRO Aerostar increased annual net profits by 25 per cent in 2014 to €4.5m ($5m).

Romanian aerostructure supplier and MRO Aerostar increased annual net profits by 25 per cent in 2014 to €4.5m ($5m).

During the period, the firm’s turnover was €59m ($65.5m), a 23 per cent increase compared with the previous year’s results.

Its commercial aviation divisions accounted for nearly 70 per cent of this turnover, with production of aerostructures for civil aircraft making up around 49 per cent of this.

MRO activities meanwhile contributed 18 per cent of revenues.

Grigore Filip, Aerostar president and director general, said the firm will now look to increase commercial aviation income to 75 per cent of company turnover.

Bacau-based Aerostar carries out subcontracting services on parts and assemblies for GKN Aerospace and Fokker, as well as working on landing gears and hydraulics for Messier-Bugatti Dowty.

It also providesMRO services on A320, BAe146 and 737 aircraft.

TAGS: Europe
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