Company News

Turboprop maker ATR reports surge in orders for 2017

PARIS, Jan 22 (Reuters) - ATR, the world’s largest turboprop maker, reported on Monday that its number of orders had more than tripled from a year ago, buoyed by a general pick-up in the aviation sector.

ATR, which is jointly owned by Airbus and Italian aerospace group Leonardo, said it had firm sales of 113 aircraft in 2017, compared to 36 in 2016.

The company, whose main rival is Canadian group Bombardier , added that its annual turnover had stabilised to stand at $1.8 billion, which ATR said was among its best results since the company was founded in 1981.

The International Air Transport Association (IATA) said last month that the world’s airlines were set for another year of record profits in 2018 thanks to improving global economies and robust travel demand. (Reporting by Cyril Altmeyer; Editing by Sudip Kar-Gupta)