Story ID: 
Helicopters Key to Finmeccanica Upturn
By: David Donald
Caption: Orders at AgustaWestland subsidiary were up 3.9 percent over 2013 and revenues increased by 8.1 percent.
Word Count: 232
Finmeccanica today reported encouraging full-year 2014 financial results, as the company returns to profitability and embarks on a new five-year industrial plan that will see it focus on core businesses. Along with electronics division Selex ES, the AgustaWestland helicopter business has performed particularly strongly. With orders up 3.9 percent over 2013 and revenues increasing by 8.1 percent, AgustaWestland is forecast to grow at a double-digit rate, with much of the business coming from the civil sector.

Driving that growth will be an increase in service offerings, such as training and maintenance, and new products that are coming online. Building on the success of the company’s AW139, AgustaWestland achieved FAA certification for the 19-passenger AW189 earlier this month, following EASA certification last February. The first 10 have already been delivered. AgustaWestland expects to receive approval for the 10-passenger AW169 later this year.

Development of the AW609 tiltrotor is also progressing well, Finmeccanica CEO and general manager Mauro Moretti noted during the financial conference call. Speaking about the type’s application to the oil/gas industry, he forecast that the AW609 would provide a “a revolution in the sector, particularly in terms of opportunities for greater distance.” The strong performance and promise of the current-production models, as well as that for the in-development AW609, are seen as a competitive counter to Airbus Helicopters' H160, which was launched two weeks ago at Heli-Expo 2015.