Plus   Neg

Serco Granted Contracts To UK's Royal Air Force, Naval Air Command

Serco Group plc (SRP.L) has been awarded a number of contracts providing a range of operational support, engineering and training services, known as Multi-Activity Contracts or MACs to the UK's Royal Air Force or RAF and Naval Air Command have a combined total potential value to Serco of 130 million pounds. Serco has rebid its RAF Northolt MAC, providing aviation and
engineering facilities and logistics support at this major RAF airport,
including maintenance and associated support of 32 (The Royal) Squadron, and at various satellite stations in and around London.

The contract, which begins in April 2012, is for a three-year period with options to extend by up to a further four years and would have a total value to Serco of nearly 70 millon pounds over the full 7 years. Also, the provision of aviation and engineering facilities and aircraft support at
Royal Navy Air Stations Yeovilton and Culdrose, together with various
satellite stations, has been successfully rebid. This new contract commences in April 2012, is for a three-year period with two option years and would have a total value to Serco of about 40 million pounds over the full 5 years.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Deutsche Telekom AG were losing around 2 percent in German trading after the telecom giant reported Thursday a net loss in its fourth quarter, compared to prior year's profit, despite increased revenues. Looking ahead, the company said its 2019 forecast shows undiminished growth momentum. Hormel Foods Corp. on Thursday reported a 20 percent decline in profit for the first quarter from last year, when results were aided by a benefit related to the U.S. tax reform. However, earnings per share for the quarter matched analysts' expectations, while revenues missed their estimates. Looking ahead, the branded food company reiterated its financial outlook for fiscal 2019. Southwest Airlines Co. said it will investigate whether a dispute with its mechanics union was the cause of an "unprecedented number" of out-of-service aircraft that resulted in flight cancellations and flight delays. Southwest Airlines COO Mike Van de Ven said in a statement that the airline has been negotiating with Aircraft Mechanics Fraternal Association or AMFA for more than six years.
Follow RTT