March 26, 2017 6:45 AM ET

Transportation Infrastructure

Company Overview of HAECO USA Holdings, Inc

Company Overview

HAECO USA Holdings, Inc. operates as a subsidiary of Hong Kong Aircraft Engineering Company Limited.


United States

Founded in 2013

Key Executives for HAECO USA Holdings, Inc

HAECO USA Holdings, Inc does not have any Key Executives recorded.

HAECO USA Holdings, Inc Key Developments

HAECO USA Holdings, Inc. Reports Earnings Results for the Six Months Ended June 30, 2016

HAECO USA Holdings Inc. reported earnings results for the six months ended June 30, 2016. The company made a loss in the first half of 2016 similar to that in the first half of 2015. The airframe services performance was better, but fewer seats were sold. Loss was HKD 59 million against HKD 59 million last year. Revenue was HKD 1,587 million against HKD 1,256 million last year. The increase reflects more airframe and Panasonic Global Communication Suite work. Operating loss was HKD 64 million against HKD 68 million last year. Loss before taxation was HKD 89 million against HKD 91 million last year.

HAECO USA Holdings, Inc Announces Audited Earnings and Operating Results for the Full Year Ended December 31, 2015; Provides Operating Guidance for the Fiscal 2016

HAECO USA Holdings Inc. announced audited earnings and operating results for the full year ended December 31, 2015. For the year, the company reported loss attributable to the company's shareholders was HKD 158 million against HKD 45 million a year ago. The increased loss principally reflected a decline in airframe services manhours sold. Total revenue was HKD 2,556 million against HKD 2,885 million a year ago. Operating loss was HKD 217 million against HKD 8 million a year ago. Loss before taxation was HKD 264 million against HKD 46 million a year ago. The company reported demand for HAECO Americas' airframe services fell to 3.02 million manhours sold in 2015 from 3.66 million in the post-acquisition period in 2014. The decrease principally reflected completion of large, high work scope contracts and their replacement with smaller work scope contracts. At the end of 2015, line services were available at 21 stations in the United States, compared with 19 stations at the end of 2014. Engine overhaul work was steady in 2015, with 38 engines overhauled and two engines sold. In 2015, HAECO Americas worked on 40 cabin integration programmes compared with 44 in the post-acquisition period in 2014. Such reduction was partly compensated by more Panasonic Global Communication Suite kit work done in 2015. For seat business, it shipped approximately 4,200 premium economy and economy class seats compared with 8,600 in the post-acquisition period in 2014. Demand for HAECO Americas' old seats declined and the replacement seats were not yet in commercial production. HAECO Americas employed 2,597 staff at the end of 2015. For the fiscal 2016, demand for HAECO Americas' airframe services is expected to remain similar to that of 2015. Results are expected to improve through efficiency and work flow improvements on contracts entered into in 2015. HAECO Americas will start to deliver new Vector seats in fiscal 2016.

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Recent Private Companies Transactions

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