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The Latest Breaking News from Aviation

IndiGo incident: DGCA forms fact-finding team; airline CEO offers to buy electric wheelchair for specially-abled child

NEW DELHI: India's aviation regulator DGCA has formed a three-member team to conduct a "fact-finding enquiry" into IndiGo recently barring a specially-abled child from boarding a flight at the Ranchi airport as he was in a "state of panic", officials said on Monday.

The Times of India

Textron Shares Soar On Q1 Earnings Beat

Textron Shares Soar On Q1 Earnings Beat

Textron Inc. (NYSE:TXT) reported first-quarter FY22 sales growth of 4.2% year-over-year to $3 billion, beating the consensus of $2.74 billion. Revenue by segments: Textron Aviation $1.04 billion (+20.2% Y/Y), Bell $834 million (-1.4% Y/Y), Textron Systems $273 million (-16.8% Y/Y) and Industrial $838 million (+1.6% Y/Y). EPS of $0.88 topped the consensus…

Garmin Beats on Q1 Earnings; Margins Shrink Amid High Freight Cost, Component Supply Crisis

Garmin Beats on Q1 Earnings; Margins Shrink Amid High Freight Cost, Component Supply Crisis

Garmin Ltd (NYSE:GRMN) reported first-quarter FY22 revenue growth of 9% year-on-year to $1.17 billion, beating the consensus of $1.12 billion. Revenue from Fitness declined 28% Y/Y to $220.9 million, Outdoor rose 50% Y/Y to $384.6 million, Aviation improved 1% Y/Y to $174.8 million, Marine jumped 21% Y/Y to $254.1 million, and Auto sales…

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GE Reiterates FY22 Outlook At Its 2022 Investor Day

General Electric Co (NYSE:GE) is hosting its 2022 Investor Day at its Power and Aviation facilities in Greenville, South Carolina. Link to the event. The company reaffirmed its FY22 outlook for organic revenues to grow in the high-single-digit range and the adjusted organic profit margin to expand by 150+ basis points. Adjusted…

GE Stock Slides As Supply Chain Headwinds Masks Progress

General Electric Co (NYSE:GE) issued an investor newsletter, mentioning continued supply chain pressure across most of its businesses as material and labor availability and inflation affect Healthcare, Renewable Energy, and Aviation. GE expects these challenges to persist at least through the first half of the year. GE said it had included such…

Garmin Tops Q4 Backed By Mixed Segment Performance; Proposes Dividend Hike

Garmin Ltd (NYSE:GRMN) reported fourth-quarter FY21 revenue growth of 3% year-on-year to $1.39 billion, beating the consensus of $1.36 billion. Revenue from Fitness was flat Y/Y at $470 million, Outdoor declined 8% Y/Y to $378.2 million, Aviation improved 13% Y/Y to $177.6 million, Marine jumped 14% Y/Y to $196.5 million, and Auto sales…

GE Q4 Revenue Misses Street View; Expects Revenue Growth In FY22

General Electric Co (NYSE:GE) reported a fourth-quarter FY21 revenue decline of 3% year-over-year to $20.30 billion, missing the consensus of $21.48 billion. Total orders declined by 5% Y/Y to $22.1 billion and decreased by 4% on an organic basis. Adjusted EPS was $0.82, up by 67% Y/Y, while GAAP Continuing EPS loss was…

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