UPDATE 1-Senior sees H1 profitibality in line with its view

* Says continues to trade satisfactorily
* Net debt down significantly more than expected
* Sees to benefit from new aircraft programmes
June 29 (Reuters) - British engineer Senior Plc (SNR.L) said on Monday it continued to trade satisfactorily with profitability in line with its expectations for the first half of 2009.
Strong cash generation and currency benefits have helped the company to reduce its net debt significantly more than anticipated in the six months to June 30, Senior, which makes aerospace and automotive components, said.
The company said its customers Boeing (BA.N) and Airbus (EAD.PA) had seven-year order books but for the first five months of the year they reported a combined net order in-take of only 21 aircraft, as there were 76 cancellations.
However, Senior said it was strongly cash generative and financed for the longer-term.
"Whilst the group's end markets are expected to remain challenging for the foreseeable future, Senior is gaining market share... and can look forward to significant future organic growth from new aircraft programmes such as Boeing 787 and Joint Strike Fighter," it said in a statement.
The company saw a modest improvement in production of land vehicles outside of North America and a further weakening of the business jet market in the second quarter
The bankruptcy of General Motors (GMGMQ.PK) and Chrysler in the period had little effect on the group, Senior said.
Senior, which had cut 19 percent jobs since September-end in light of weak land vehicle and business jets markets, said it did not expect to cut any further jobs this year.
Shares of Senior closed at 34 pence on Friday on the London Stock Exchange. (Reporting by Shivani Singh in Bangalore; Editing by Gopakumar Warrier)