Italy's Leonardo aerostructures losses ease as JV talks continue

Leonardo Sees Aerostructures Losses Ease While Pursuing Joint Venture

Leonardo's Aerostructures Business Shows Signs of Recovery

ROME, Nov 5 (Reuters) - Italian defence group Leonardo said its troubled aerostructures business is showing signs of improvement, as the company continues to pursue a long-planned partnership for the unit.

Financial Performance and Loss Reduction

Chief Financial Officer Giuseppe Aurilio told analysts on Thursday that losses at the division were declining and that a ramp-up of the Boeing B787 programme had made the issue "much more manageable and less painful".

Pursuit of Joint Venture Amid Geopolitical Delays

At the same time, Leonardo is pressing ahead with talks on a joint venture for the unit - which supplies components to Boeing and Airbus - despite delays linked to geopolitical factors, Aurilio added.

Potential Partners and Strategic Plans

The state-controlled conglomerate has been in talks for more than a year with a partner - whose identity has not been disclosed but which has been identified by media as Saudi Arabia's sovereign wealth fund.

Aurilio said that Leonardo was making progress on a standalone plan for aerostructures and would provide an update as part of its new industrial strategy, expected in March.

Future Outlook and Strategy

"The strategy does not change, (and that is) to make aeostructures sustainable, widening its customer base, and that is with this partnership or with no partnership," the executive said.

(Reporting by Giulia Segreti in RomeEditing by Keith Weir)