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APPLIED Technology, Middle East and European marketing and technical support representative of PF Industries Inc, will exhibit ground support equipment supplied to airlines worldwide.

Now established as the worldwide meeting place for all those engaged in the efficient and economic operation of international and national airports and military airbases, AIRPORT '81 will present the most comprehensive display of products and services to date.

Aeronautical & General Instruments Ltd, will exhibit their R 128 recording cameras, designed to photograph the information displayed on the cathode ray tube of an aircraft's reconnaissance radar.

Normalair‐Garrett Ltd., (Stand No. N31) part of the Westland plc Group of Yeovil, Somerset, is exhibiting a wide range of products which demonstrate the company's diverse capabilities in control systems and precision components for the aerospace industry.

TO say that the Twenty‐fourth S.B.A.C. Show was an unqualified success is perhaps to gild the lily. True there were disappointments— the delay which kept the TSR‐2 on the ground until well after the Show being one—but on the whole the British industry was well pleased with Farnborough week and if future sales could be related to the number of visitors then the order books would be full for many years to come. The total attendance at the Show was well over 400,000—this figure including just under 300,000 members of the public who paid to enter on the last three days of the Show. Those who argued in favour of allowing a two‐year interval between the 1962 Show and this one seem to be fully vindicated, for these attendance figures are an all‐time record. This augurs well for the future for it would appear that potential customers from overseas are still anxious to attend the Farnborough Show, while the public attendance figures indicate that Britain is still air‐minded to a very healthy degree. It is difficult to pick out any one feature or even one aircraft as being really outstanding at Farnborough, but certainly the range of rear‐engined civil jets (HS. 125, BAC One‐Eleven, Trident and VCIQ) served as a re‐minder that British aeronautical engineering prowess is without parallel, while the number of rotorcraft to be seen in the flying display empha‐sized the growing importance of the helicopter in both civil and military operations. As far as the value of Farnborough is concerned, it is certainly a most useful shop window for British aerospace products, and if few new orders are actually received at Farnborough, a very large number are announced— as our ’Orders and Contracts' column on page 332 bears witness. It is not possible to cover every exhibit displayed at the Farnborough Show but the following report describes a wide cross‐section beginning with the exhibits of the major airframe and engine companies.

Following the Gulf War, international discussions took place about multilateral restraints on “destabilising arms transfers”. Given that the UK is one of the leading exporters of arms, any reduction in such exports would affect the UK economy. The UK government spends considerable sums promoting such exports and it benefits from defence exports as they reduce the Ministry of Defence’s procurement costs. This paper analyses the direct financial implications of arms exports to the UK government, both as a buyer of defence equipment and as a promoter of such exports. The results suggest that in the UK each job generated by arms exports is subsidised by just under £2,000 per annum and that a one‐third reduction in UK defence exports would save the taxpayer some £76 million per annum (at 1995 prices).

As part of the V.10 F programme financed by Service Technique de la Production Aeronautique (STPA), AEROSPATIALE and DASSAULT — BREGUET have joined forces to produce a single Falcon 10 wing entirely made of carbon fibre. This wing has just been sent from the AEROSPATIALE Company's Nantes factory to the Toulouse Aernautic Testing Centre. A second wing will also be built, but this time, by DASSAULT‐BREGUET Biarritz plant. The two wings will be used for static fatigue testing. The programme calls for another pair of wings, one to be made by each of the same firms. They will later be mounted to a Falcon 10 for flight testing.

This chapter focuses on the international aspects of auditing in the context of the airline industry for the year 2018. This chapter finds that International Standards on Auditing have been widely adopted in the global context. This chapter also analyses several observations related to the composition of audit firms (Big 4 vs. non-Big 4), types of audit opinions, emphasis of matter, other matters, material uncertainty related to going-concern, and types of auditors (single or joint auditor). This chapter covers the frequency of the four elements of describing key audit matters (KAM) in the audit reports in the global and auditor context as well as the KAMs observed in the airline industry and classifies them as industry-specific KAMs and entity-specific KAMs. In addition, this chapter analyses the requirements of the expanded audit report of the UK which includes the declaration of materiality threshold and scope of the audit in connection with the materiality and KAMs considering UK and non-UK airlines.

THERE ARE technical, financial and other advantages to be gained by an aircraft manufacturer's management from making fewer detail components in house and from placing the majority of such components with the supplier industries. These advantages can also benefit the aircraft manufacturer's employees and customers, the passengers and the public. The example of a mechanical flight control strut is used to illustrate the arguments. A range of factors of interest to management are considered such as structural efficiency, reliability and safety; the costs of design, development, tooling and production; the administrative aspects, the cash flow aspects, working capital usage trends and the problems associated with fluctuating capital and manpower requirements of the industry. The article is in several sections; the debate, the advantages, the technical benefits, the direct cost benefits, the indirect cost benefits and the three balance sheets for each section of the industry.