FORMED IN 1998. PARENT COMPANY, FORMERLY DAIMLERCHRYSLER AVIATION, D B A "DC AVIATION" IS BASED IN STUTTGART, GERMANY. THIS USA SUBSIDIARY OFFERS PRIVATE CORPORATE, CHARTER, JET AIRPLANE SERVICES AND IS BASED IN AUBURN HILLS, MICHIGAN.
D-70629, Stuttgart, Germany
December 1997: A319-113CJ (V2527-A5), parent DC Aviation (DCS), Stuttgart, Germany executive operations.
November 2003: DaimlerChrysler is to sell its profitable MTU Aero Engines subsidiary to New York Takeover specialist investment firm Kohlberg Kravis Roberts & Company, in order to concentrate resources on its core automotive business. Informed German industry sources estimate the value of this transaction as $1.7B - $2B.
MTU is the largest global provider of independent engine maintenance services. Including the staff at its string of worldwide divisions, it has more than 8,000 employees, including 6,800 located at its Munich HQ. Part of its success has stemmed from its strategic alliances with leading (OEM)'s such as Pratt & Whitney, Rolls-Royce, GE, and Snecma. Subsidiaries incl MTU Maintenance Hannover, MTU Maintenance Berlin-Brandenburg, MTU Maintenance Canada in Vancouver, MTU Maintenance Zhuhai, MTU Maintenance do Brasil, Airfoil Service in Malaysia, and MTU Aero Engine Design in Hartford, Connecticut.
April 2005: Daimler Chrysler (DCY) is to sell its 35% stake in Debis AirFinance (DEA) to Cerberus Capital Management. Its aerospace unit owns 10%.
June 2005: MD-82 (49387), returned from Alaska Airlines (ASA), leased to 1Time (1TA).
January 2007: DaimlerChrysler (DCY) will sell a 7.5% stake in Airbus parent EADS (EDS) to a consortium, that reportedly includes Deutsche Bank, Commerzbank, KfW and Goldman Sachs. A company spokesperson told German media this week, that an agreement had been reached and "final details" were being settled. DaimlerChrysler (DCY) will hold a 15% stake in EADS (EDS) after the sale, which is expected to net nearly $2 billion.
April 2007: Airbus parent EADS (EDS) named Rudiger Grube Co-Chairman of the board, replacing Manfred Bischoff, who resigned to become Chairman of DaimlerChrysler. The German joins Co-Chairman Arnaud Lagardere of France. Bischoff had been Co-Chairman since 2000 and Grube has been a member of the EADS (EDS) board since 2004.
November 2008: See DC Aviation (DCS), German HQ of DaimlerChrysler Aviation (DCS). Member of the Cirrus Group.
(ICAO) Code: DCS (Callsign - TWIN STAR).
March 2009: Aegean Airlines (CRM) joined the bidding for Olympic Airlines (OLY), offering a combined €170 million/$214.2 million for (OLY)'s Flight Operations, Maintenance Repair & Overhaul (MRO) division and its successor company "Pantheon." "The objective of (CRM) and its shareholders is the creation of a more powerful Greek air company" that can compete with larger European airlines, (CRM) said. It added that it would be able to take over (OLY) within 60 days of signing a deal and that it was willing to cede some domestic routes in order to facilitate competition. USA-based charter company Chrysler Aviation (DCY) has also reportedly re-entered the bidding, joining Swissport and Greece's Marfin Investment Group (MIG), each of which is seeking specific pieces of (OLY).
Later, the Greek government selected domestic holding company Marfin Investment Group (MIG) to purchase Olympic Airlines (OLY). "The government's legal and financial advisers informed us that the negotiations wth (MIG)'s advisers for the sale of (OLY)'s flying operations and technical maintenance ended successfully," Development Minister, Costis Hatzidakis said. The (MIG) bid €45.7 million/$57.5 million for (OLY)'s flight operations and €16.7 million for its Maintenance Repair & Overhaul (MRO) division. The government selected (MIG) over Aegean Airlines (CRM) and USA-based charter company Chrysler Aviation (DCY). It was unclear whether Swissport's €44.8 million offer for (OLY)'s ground handling operation remained under consideration.
October 2010: Daimler 3rd quarter net profit was +euro 1,610 million (+euro 56 million).
February 2011: Net profit of euro 4.7 billion in 2010 (2009: net loss of euro 2.6 billion). After the prior year had been severely impacted by the financial and economic crisis, earnings in all divisions developed much more positively than had been anticipated at the beginning of 2010. This was due not only to the general market recovery, but in particular to the attractive product range as well as efficiency gains that were implemented.
Daimler sold a total of 1.9 million vehicles in 2010. The level of the prior year, which had been very low due to the global economic and financial crisis, was thus surpassed by 22%. Group revenue increased by +24% to euro 97.8 billion; adjusted for exchange-rate effects, there was an increase of +19%.
The size of the workforce increased slightly due to stronger demand. As of December 31, 2010, the Group employed 260,100 people worldwide (2009: 256,407). Of that total, 164,026 were employed in Germany (2009: 162,565). The number of apprentices was 8,841 (2009: 9,151).
In view of the Group's positive economic development in the year 2010, Daimler's Board of Management and General Employee Council have agreed that the special efforts made by the workforce in 2010 will be rewarded with a high performance participation bonus of euro 3,150 per entitled employee of Daimler AG. In the anniversary year of the invention of the automobile, each employee worldwide will also receive a special bonus of up to euro 1,000, depending on his or her length of time at the Group.
Daimler increased its research and development expenditure last year to euro 4.8 billion (2009: euro 4.2 billion). Research and development spending totaled euro 3.1 billion at Mercedes-Benz Cars (2009: euro 2.7 billion) and euro 1.3 billion at Daimler Trucks (2009: euro 1.1 billion).
The main areas of research and development work were new, extremely fuel-efficient and environmentally friendly drive technologies. This included working on the optimization of conventional drive technologies and enhancing their efficiency through hybridization, as well as on electric vehicles with fuel-cell drive and battery power. Another focus was on new safety technologies.
Mercedes-Benz Cars, comprising the brands Mercedes-Benz, Maybach and smart, increased its unit sales by 17% to 1,276,800 vehicles last year (2009: 1,093,900). As the structure of unit sales shifted toward higher-value models, revenue increased at the significantly higher rate of 29% to euro 53.4 billion.
This excellent result is mainly a reflection of the high volume of unit sales following the decline in demand for cars in the previous year. Above all in the USA and China, the Mercedes-Benz Cars division was able to increase its unit sales significantly because of its attractive product range. Other factors with a positive impact on earnings were an advantageous product mix, improved pricing and increased efficiency. An additional positive effect came from lower charges from the compounding of non-current provisions (2010: €140 million; 2009: euro 657 million). Compared to the prior year, there was higher research and development expenditure.
April 2013: German car maker Daimler (DCY) has sold its last remaining 7.5% stake in (EADS) for about €2.2 billion/$2.9 billion.