IHI sees improving demand for spares with air travel recovery

The aero engine, space and defence unit of Japanese firm IHI generated revenues of Y108.2 billion ($957 million) for the first half of its 2021 financial year, up 9% from a year earlier as the airline sector starts to recover from the coronavirus pandemic.

The unit also narrowed its operating loss for the six months to 30 September to Y12.3 billion, compared an operating loss of Y16.8 billion a year earlier. IHI notes that profitability was weighed down by an increase in sales in newly made engines, which carry a high cost burden in the early stage of the engine’s lifecycle. Still, a depreciating yen helped narrow operating losses.

During the period it generated orders of…

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