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2018 Annual Report WHERE YOU CAN FIND MORE INFORMATION Annual Report
2018 Annual Report WHERE YOU CAN FIND MORE INFORMATION Annual Report https://www.ge.com/investor-relations/annual-report Sustainability Website https://www.ge.com/sustainability FORWARD-LOOKING STATEMENTS Some of the information we provide in this document is forward-looking and therefore could change over time to reflect changes in the environment in which GE competes. For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/ investor-relations/important-forward-looking-statement-information. We do not undertake to update our forward-looking statements. NON-GAAP FINANCIAL MEASURES We sometimes use information derived from consolidated financial data but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). Certain of these data are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission rules. These non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in the CEO letter supplemental information package posted to the investor relations section of our website at www.ge.com. Cover: The GE9X engine hanging on a test stand at our Peebles Test Operation facility in Ohio. Here we test how the engine’s high-pressure turbine nozzles and shrouds, composed of a new lightweight and ultra-strong material called ceramic matrix composites (CMCs), are resistant to the engine’s white-hot air. -
Finest Five Choppers Our Favorite Rotorcraft to Get You to Work
Finest Five Choppers Our favorite rotorcraft to get you to work By Mark Huber jets—and a quiet, jet-smooth ride. More than 250 have been produced since 2004, mostly to service deepwater oil rigs. Highly modified S-92s are slated S GOES THE PRICE OF OIL, SO GOES THE CIVILIAN HELICOPTER to become the new presidential Marine One at the end of the decade, and market. That’s because a good portion of new-chopper production they already convey the leaders of 10 other countries. The blue-and-white goes to satisfy demand from the offshore oil-and-gas industry, Fat Hawk you regularly see over New York is whisking billionaire investor and the continued depressed price of crude has put a damper on Ira Rennert to his $248 million Sagaponack, N.Y., manse. Athings—and created the best buyer’s market for new rotorcraft in nearly a decade. But which helicopter is right for you and your commute? Here SUPER-MEDIUM: Airbus H175 are our finest-five picks: Price: $19 million Passengers: 8-16 Top speed: 184 mph Range: 690 miles Runner-up: AgustaWestland AW189 LARGE-CABIN: Sikorsky S-92A Helibus Price: $32 million (with typical executive interior) Airbus Helicopters (formerly Eurocopter) delivered its first H175 Passengers: 9-19 Top speed: 190 mph Range: 620 miles twin-engine last year, and it’s winning accolades, thanks to its low vibra- Runner-up: AgustaWestland AW101 tion and exterior-noise levels, long range, and reliability. The H175 tips the scales at a 16,535-lb. maximum takeoff weight, which translates into a Want a conveyance fit for a head of state or an uber-billionaire? This 423.8-cu.-ft. -
"Вертолеты России" № 4(26) 2015 01.12.2015
№ 4 (26) / 2015 ПЕРВЫЙ АРКТИЧЕСКИЙ ВЕРТОЛЕТ ДЛЯ МИНОБОРОНЫ РОССИИ FIRST ARCTIC HELICOPTER FOR RUSSIAN DEFENCE MINISTRY ЛЕТНОЙ ПРОГРАММЕ МИ171А2 ИСПОЛНИЛСЯ ГОД ВЕРТОЛЕТЫ МИ8/17 ОБСЛУЖАТ ДОБЫВАЮЩИЕ ПРОЕКТЫ «РОСНЕФТИ» MI171A2 FLIGHT PROGRAM: ONE YEAR ON MI8/17S TO SERVICE ROSNEFT EXTRACTION PROJECTS № 4 (26) / 2015 6 18 34 Новогоднее обращение генерального директора Сотрудничество с Китаем: А. А. Михеева . .2 новые вертолеты и услуги . .28 New year’s message from CEO Alexander Mikheev Cooperation with China: new helicopters and services ГЛАВНАЯ ТЕМА: МИ-8АМТШ-ВА | IN FOCUS: MI-8AMTSH-VA Новые вертолеты для Индии и Бангладеш . .30 Арктический вертолет Ми-8АМТШ-ВА New Helicopters for India and Bangladesh пошел на службу . .6 Холдинг наладит работу иностранных Arctic Mi-8AMTSh-VA begins service сервисных центров . .32 ХОД ВЕРТОЛЕТНЫХ ПРОГРАММ | PROGRAM DEVELOPMENTS Russian Helicopters to start work at new foreign service centres Ми-38 получил первый серийный фюзеляж . .12 ВЕРТОЛЕТЫ В РОССИИ | HELICOPTERS IN RUSSIA Mi-38 gets first serial fuselage Вертолеты Ми-8/17 обслужат добывающие Летной программе Ми-171А2 исполнился год . .14 проекты «Роснефти» . .34 Mi-171A2 flight program: one year on Mi-8/17s to service Rosneft extraction projects Пассажирский «Ансат» Выполнение гособоронзаказа отметили получил систему улучшения устойчивости . .16 Passenger Ansat given improved resilience system почетной грамотой . .36 Russian Helicopters cited for fulfilling state defence order «Ночной охотник»: СОТРУДНИЧЕСТВО | COOPERATION история, перспективы развития . .18 The Night Hunter: history and future development ОАК поможет композитам укрепиться в вертолетостроении . .37 НОВОСТИ ХОЛДИНГА | HOLDING NEwS Russian Helicopters and UAC developing composite materials Центр сборки и испытаний редукторов for helicopter-building оценили в 2 млрд рублей . -
Helicopter Noise Reduction Technology, Status Report
Helicopter Noise Reduction Technology Status Report 21 April 2015 Contributors: ICCAIA: Snecma, Airbus Helicopters, Sikorsky Aircraft, Bell Helicopter, AgustaWestland, Turbomeca, Marenco Swisshelicopter Research Centers: NASA, DLR, ONERA, JAXA 1 Contents 1 Introduction .................................................................................................................................................. 3 2 Helicopter noise sources and related noise generation mechanisms ............................................................ 4 2.1 Rotor noise ........................................................................................................................................... 4 2.2 Anti-torque noise .................................................................................................................................. 4 2.3 Engine noise ......................................................................................................................................... 5 2.3.1 Turboshaft Engines.......................................................................................................................... 5 2.3.2 Piston Engines ................................................................................................................................. 5 2.4 Contribution of noise sources depending on flight condition .............................................................. 5 3 State-of-the-Art Helicopters ........................................................................................................................ -
Determination of Mergernotification M/14/032
DETERMINATION OF MERGER NOTIFICATION M/14/032 - GE / MILESTONE Section 21 of the Competition Act 2002 Proposed acquisition of Milestone Aviation Group Limited by GE Capital Aviation Funding Dated 12 December 2014 Introduction 1. On 7 November 2014, in accordance with section 18(1) of the Competition Act 2002, as amended 1 (“the Act”), the Competition and Consumer Protection Commission (“Commission”) received a notification of a proposed transaction whereby General Electric Company (“GE”), through its wholly-owned indirect subsidiary GE Capital Aviation Funding ("GECAF"), would acquire all the issued shares in Milestone Aviation Group Limited (“Milestone”) and all of its subsidiaries. The Undertakings Involved The Acquirer – GE 2. GE is a global, diversified technology and services public company incorporated in the United States. GE is divided into a number of business units, each of which has its own divisions. Its primary business units include: GE Energy Management, GE Power & Water, GE Oil & Gas, GE Healthcare, GE Aviation, GE Transportation, GE Capital and GE Home & Business Solutions. 3. GE is active globally in the following sectors: aircraft engines, consumer products, specialty materials, power systems, industrial systems, medical systems, plastics, broadcasting, financial services and transportation systems. 4. Most of GE’s main business segments operate within the State. In particular, GE manufactures wind turbines and healthcare products, carries out much of GE’s airplane leasing operations and has its GE Capital European headquarters within the State. 5. For the financial year ending 31 December 2013, GE had a worldwide turnover of €[…] billion and a turnover in the State of €[…] million. 2 1 It should be noted that the Competition and Consumer Protection Act 2014 made a number of important amendments to the merger review regime set out in the Competition Act 2002. -
Uproar in Bahrain As Gulf Technics 'Suspends' Operations
ISSN 1718-7966 APRIL 1, 2013 / VOL. 382 WEEKLY AVIATION HEADLINES Read by thousands of aviation professionals and technical decision-makers every week www.avitrader.com WORLD NEWS Boeing 787 tests, layoffs Boeing began the first in a series of 787 Dreamliner ‘functional check flights’ on a production model aircraft painted in LOT Polish Airlines livery as it works Uncertainty in Bahrain, to return the plane to commercial as Gulf service. The 50-strong global fleet Air’s MRO of 787s has been grounded since provider, Gulf January over problems involving Technics, has closed its the plane’s lithium-ion batteries. doors In an unrelated move, Boeing said it was set to lay off 800 staff at Seattle area factories that modify Photo: Gulf Air 787 and the 747-8 aircraft. Etihad to buy JAT stake Uproar in Bahrain as Gulf Technics ‘suspends’ operations JAT Airways, the largest airline Hangar project and engineer training scrapped amid heavy losses operating in Serbia, is in talks with Abu Dhabi’s Etihad over a Bahrain’s aviation industry has been register their concern. nance to Bahrain and build a ‘reve- partnership deal that would see thrown into chaos after it emerged nue generating’ MRO to serve both Tamkeen, a government initiative the Middle Eastern carrier take that Mumtalakat, the Gulf state’s Gulf Air’s fleet of some 30 aircraft to foster economic development a 49% stake, incorporating JAT investment arm, has announced as well as third party airlines. in the Kingdom, has to date in- into its alliance with four other the closure of its maintenance, vested close to BHD7m sponsor- GT also had a rotables joint venture airlines (Air Berlin, Aer Lingus, Vir- repair and overhaul (MRO) subsidi- ing over 1,000 Bahraini students with AAR Corp, the US aviation sup- gin Australia and Air Seychelles). -
2012 ANNUAL REPORT Financial Highlights (U.S
2012 ANNUAL REPORT FINANCIAL HIGHLIGHTS (U.S. dollars, in thousands, except per share amounts and ratios)* For the years ended December 31, 2012 2011 2010 2009 2008 Continuing Operations: Operating Revenues $ 1,308,297 $ 1,032,497 $ 1,173,502 $ 1,109,641 $ 1,218,013 Gains on Asset Dispositions and 23,987 18,839 43,977 27,557 84,256 Impairments, Net Operating Income 56,405 67,138 243,099 195,131 324,534 Net Income Attributable to SEACOR Holdings Inc.: Continuing Operations $ 25,343 $ 9,273 $ 141,962 $ 117,978 $ 207,083 Discontinued Operations 35,872 31,783 102,762 25,832 11,460 $ 61,215 $ 41,056 $ 244,724 $ 143,810 $ 218,543 Diluted Earnings Per Common Share of SEACOR Holdings Inc.: Continuing Operations $ 1.22 $ 0.43 $ 6.52 $ 5.47 $ 8.79 Discontinued Operations 1.73 1.48 4.73 1.10 0.46 $ 2.95 $ 1.91 $ 11.25 $ 6.57 $ 9.25 Return on Stockholders’ Equity: Continuing Operations1 2.0% 0.8% 10.5% 11.2% 16.7% Discontinued Operations2 6.5% 5.0% 16.9% 4.5% 2.8% Overall3 3.4% 2.3% 12.5% 8.8% 13.3% December 31, 2012 2011 2010 2009 2008 Total Assets: Continuing Operations $ 2,751,917 $ 2,839,168 $ 2,738,722 $ 2,977,902 $ 2,776,246 Discontinued Operations 948,877 1,088,966 1,021,667 745,717 683,408 $ 3,700,794 $ 3,928,134 $ 3,760,389 $ 3,723,619 $ 3,459,654 Continuing Operations: Net Property and Equipment $ 1,584,876 $ 1,440,657 $ 1,322,963 $ 1,522,333 $ 1,611,667 Cash and Near Cash Assets4 493,786 729,635 838,508 842,944 645,122 Total Debt5 680,188 754,092 679,993 792,324 937,145 RECONCILIATIONS OF CERTAIN NON-U.S. -
A Novel Contactless Sensor for Helicopter Blade Motion In-Flight
Paper 46 TOWARDS A EUROPEAN HELICOPTER NOISE CALCULATION METHOD Marthijn Tuinstra, Jos Stevens, NLR – Netherlands Aerospace Centre (Netherlands) Nico van Oosten, Anotec Engineering (Spain) Herold Olsen, SINTEF (Norway) Abstract Helicopter noise is strongly dependent on flight conditions, exhibiting in addition a pronounced directivity, complicating noise modelling. In land-use planning, the current best practice stems from fixed-wing aircraft and follows a Noise Power Distance approach that is unsuitable to include these features. The European Commission commissioned the development a novel helicopter noise model to be eventually part of a public “European Environmental Model Suite for Aviation”. The model embodies a helicopter noise calculation method based on the current state-of-the-art. A clustering strategy has been used to represent the European helicopter fleet, thus avoiding the need for performing noise measurements on all types of helicopters. The method uses an empirical source model, with noise hemispheres to faithfully describe the noise directivity pattern. Emission characteristics of a helicopter type are described by a set of hemispheres measured for a range of conditions within the flight envelope. Atmospheric propagation effects are accounted for to evaluate the noise hindrance experienced on-ground. The latter is based on established public models for atmospheric propagation, ground reflection and surface impedance. 1. INTRODUCTION providing a robust alternative to the fixed-wing 1.1. Background aircraft approach of ECAC Doc 29 in terms of Helicopter noise emission is strongly dependent Sound Exposure Level (SEL), Effective Perceived on flight conditions and varies heavily with Noise Levels (EPNdB) or Maximum A-weighted emission angles. Currently used land-use Noise Levels (LA,max). -
World War I: the Beginning Westland 1915-2015
WORLD WAR I: THE BEGINNING WESTLAND 1915-2015 From Petters Ltd to Our People THE PETTER BROTHERS OFFERED TO Sopwith 1½ Strutter EVOLUTION OF THE WESTLAND SITE Westland Aircraft Works • Women played an important part in Westland’s origins DEVOTE THEIR ENTIRE CAPABILITY • Established in Yeovil in 1865, as they did in many other industrial trades at this time. TO THE WAR EFFORT, AND WERE JB Petter & Sons expanded their • The First World War was a catalyst for women’s roles PROMPTLY AWARDED A CONTRACT thriving ironmongery and en- in the workplace, which signified part of the vast FROM THE ADMIRALTY TO PRODUCE gineering business on various cultural shift that would take place during the early SHORT TYPE 184 SEAPLANES. sites in Yeovil, producing 1500 20th century. agricultural oil engines per year • Women workers manufactured munitions at the Westland built 125 of these well-established fighter sold worldwide. Reckleford site and constructed aircraft at the Westland’s first aircraft, Short 184 bomber aircraft under licence for the Royal Naval Air Service and the Royal Flying Corps. • In 1910 Petters Ltd was found- Westland Aircraft Works. Seaplane ed and a new foundry was es- • Local skills, developed from Yeovil’s gloving and tablished on a site west of Yeo- engineering industries, were used to build the wooden Airco DH4 vil. frames and stitch the fabric coverings of Westland’s • James Petter’s twin sons Perciv- early aircraft. al and Ernest had a flair for en- The First Assembly Hall Under Construction gineering and with Ben Jacobs, another talented engineer, de- signed an early car called the ‘Horseless Carriage’ and also designed experimental forms of Westland was contracted in 1917 to build 175 of • Designed by Short Brothers Ltd as a torpedo- this two-seat Airco day bomber. -
Avitrader Monthly MRO Magazine
October 2015 - www.avitrader.com GOING GREEN MRO and environmental sustainability Industry interview Pemco MRO News from around the world People on the Move latest appointments ICF Analysis Editor‘s Page 2 London bound All roads led to London, England this month for ers in London that Delta TechOps will provide on their environmental policies and some of the MRO Europe conference and exhibition. airframe maintenance support,for Virgin At- the challenges the industry faces with regards Not surprisingly all the major players were lantic’s fleet of 10 Airbus A330 aircraft at it’s to environmental compliance. in attendance this year. The conference pro- Minneapolis facility. gramme highlighted a number of pressing is- Happy reading! sues for the European MRO industry, and many In this issue’s cover story we focus on the grow- new deals were announced. ing importance being placed on environmental Keith Mwanalushi sustainability in the aviation industry. MRO in Editor Delta Tech Ops for instance extended its rela- its very nature produces hazardous waste and tionship with Virgin Atlantic to include a new managing this waste in an eco-friendly man- three-year agreement to provide exclusive ner is ever more crucial today. We bring you an MRO services. The U.S, based MRO told report- analysis of various strategies from key players Published monthly by AviTrader Publications Corp. Suite 305, South Tower 5811 Cooney Road Richmond, British Columbia V6X 3M1 Canada Email: [email protected] Tel: +1 (424) 644-6996 www.avitrader.com Editorial Keith Mwanalushi, Editor Email: [email protected] Mobile: +44 (0) 7871 769 151 Design Volker Dannenmann, Layout & Design Email: [email protected] Mobile: +34 657 218706 Hazardous waste is generated from several MRO activities. -
Differences Between Commercial and Corporate Aircraft Finance
DIFFERENCES BETWEEN COMMERCIAL AND CORPORATE AIRCRAFT FINANCE Mark Bisset 23 September 2011 The world’s Global Aviation Law Firm of the Year by Who’s Who premier aviation Legal for the past 7 years (2005-2011). law firm Law Firm of the Year 2011 (Legal Business Awards). Over 150 dedicated aviation lawyers, including finance, litigation, insurance & regulatory specialists. Over 1,400 staff based in 25 offices around the world, including in China: INTRODUCTION What are the financing requirements? Who is in the market? Structuring a business jets transaction What are the terms? WHAT ARE THE FINANCING REQUIREMENTS? BUSINESS JETS FINANCING Business jets 11,167 REQUIREMENTS Jetliners/regional jets 585 2011-2020 Business turboprops 3,153 _________ TOTAL 14,905 ========= Value $296 bn CHINA – c.100 aircraft in service “A permanent shift in favour of more expensive models” Source: Teal Group DELIVERIES BY TYPE, 2011-2020 Cessna 3,567 Embraer 2,227 Bombardier 1,579 Gulfstream 1,284 Dassault 1,261 Hawker 1,040 Airbus 141 Boeing 86 Others 539 HOW MANY DELIVERIES ARE PAID IN CASH? “Almost 90 per cent” (V-ref aircraft price guide) “85% of customers at the top half of the market” [$25m + range] (Teal group) “75% (Bank of America) 2006-7 20 – 30% cash COMMERCIAL AIRCRAFT Single aisle 17,870 FINANCING REQUIREMENTS Twin aisle 6,240 Very large 1,740 2009-2029 _________ TOTAL 25,850 ========= Value $3.2 trillion CHINA – 1,386 in service aircraft; backlog of 565 REGIONAL DEMAND BUSINESS JETS 2011-2015 North America Europe Latin America Asia Africa/ME -
By the Supervisory Board of Rostec Corporation (Minutes from ______2015, No
APPROVED 2014 Annual Report by the Supervisory Board of Rostec Corporation (Minutes from _________2015, No. __ ) of Rostec Corporation Rostec: A company of highly qualified, world-class professionals. In supporting the advancement of Russian industry, Rostec brings together the best Rostec Corporation traditions of Russian engineering, the latest technological innovations, and its significant expertise in the strategic development of mechanical engineering. Rostec Corporation is successfully restoring the relationship between science and industry by developing advanced technologies, introducing advanced know-how, and promoting effective cooperation between Russian industrial enterprises. Rostec’s experienced and highly qualified specialists enable the creation of unique products, opening new export opportunities for Russia. ANNUAL REPORT Rostec Corporation’s global objective is securing for Russia a leading position in high technology and mechanical engineering. for 2014 2014 Annual Report CEO CHIEF ACCOUNTANT OF ROSTEC CORPORATION OF ROSTEC CORPORATION of Rostec Corporation S.V. CHEMEZOV N.V. BORISOVA 2015 2015 4 ROSTEC CORPORATION Annual Report // 2014 5 Table of Contents Introductory notes from D. V. Manturov, Chairman of the Supervisory 5. Rostec production 6 Board, and S. V. Chemezov, CEO 108 5.1. Rostec contributions to Russian industry 5.2. New products and technologies 5.3. Import substitution 5.4. Military-technical cooperation, state orders, and federal target programs 5.5. Product optimization and restructuring 1. General information about Rostec corporation 5.6. Conversion of federal state unitary enterprises into joint-stock companies 10 1.1. History of Rostec 5.7. Management and production informatization 1.2. Supervisory board 5.8. Creating a single corporate treasury for Rostec organizations 1.3.