ValuJet Airlines late last week was in the final stages of preparing to resume service, without knowing exactly when that might happen. The carrier's flight crews have completed two days of proving runs for the FAA, one of the last steps prior to getting the agency's approval to restart operations.

As a designer and producer of FAA-approved aftermarket jet engine components, the Heico Corp. is dwarfed by original equipment manufacturers Pratt&Whitney, a unit of the United Technologies Corp., and the General Electric Corp.'s aircraft engine division.

Has celebrated airline executive Stephen M. Wolf, who successfully rebuilt three troubled carriers, met his match in USAir Group Inc.?

Air New Zealand is considering a judicial review of a ruling that its acquisition of up to half of Ansett Australia's stock would create a monopoly for New Zealand's domestic services.

The Asian Aerospace exhibition in Singapore has a knack for offering solace to the aerospace industry in uncertain times. Over the past four years, manufacturers have come to the show with more optimism than they could muster in other regions. Results become more promising every day as Asia helps lead the industry out of a record-breaking slump.

The Boeing Co. is on a roll with an order for 54 next- generation 737s (see p. 28), earnings of 74 cents per share for the second quarter ended June 30 versus Wall Street's consensus prediction of 47 cents, and a stock price that set a record $67 last week before retreating slightly. In the year-ago period, Boeing earned 65 cents per share.

When the FAA adopted a new regulation governing aircraft seat construction and testing in 1988, few in the industry foresaw major problems with the rule.

In the unlikely event that all of the remaining 370 Sabreliner business jets were suddenly to disappear from the face of the Earth or its atmosphere, the aircraft's main source of support, Sabreliner Corporation, would not instantly go out of business.