Leonardo AW101. Photo courtesy of Leonardo
Leonardo is seeing a recovery in the helicopter market on the heels of a strong first quarter, according to the manufacturer's earnings report of the first half of the year.
“First half 2018 results are in line with expectations," said Leonardo Chief Executive Alessandro Profumo. "We are fully focused on executing the industrial plan. Helicopters are successfully recovering, DRS is benefiting from U.S. market improvement, and we have taken steps forward in cost control. All of these will ensure long-term sustainable growth to the group."
The company's Cascina Costa, Italy-based helicopter division saw an increase in new orders and revenues so far this year compared to the same period last year, a profit of 8.4%, the company said. In July, the company delivered 90 helicopters, compared to 85 in July 2017.
The company attributed the revenue bump to increased production volumes for the AW101 and to increased AW139 and AW189 deliveries.
The company's board of directors is expecting increased performance progressing into the second half of the year due to Qatar's future NH90 helicopters. Leonardo is acting as prime contractor for Qatar's program to modernize its current fleet with 28 Airbus Helicopters NH90s.