Eurocopter CEO Lutz Bertling issued a prediction here this week that Eurocopter’s market share in 2008 will stay above 50 percent. “The only market that is suffering a bit is the corporate/VIP one in the U.S.,” he said. The company expects turnover to grow by 6 to 8 percent over last year’s e4.17 billion ($6.5 billion). It expects the number of deliveries to approach 550.
News and issues concerning aerospace companies, including formations, acquisitions, mergers and financials; and announcements of significant aircraft sales, delivery statistics and personnel appointments.
Zurich-based ExecuJet Aviation Group has created a pre-owned business aircraft division with sales representatives in the U.S., Europe, South Africa and the Middle East. Last year, ExecuJet logged $300 million in sales of pre-owned aircraft in the Middle East, with more than a dozen transactions, representing nearly 50 percent of ExecuJet’s total transactions. Pre-owned sales are also climbing in India and China.
Recent industry scuttlebutt that Daher Aerospace will take a majority stake in EADS Socata is likely to be confirmed next month following “exclusive negotiations” between the two companies announced last month.
Almost a year after first unveiling the deal, GE Aviation last month announced the completion of its acquisition of Prague, Czech Republic-based turboprop engine maker Walter Engines. The new GE division will operate as Walter Aircraft Engines.
No sooner had the ink dried on a report by the Institute for Policy Studies and Essential Action (IPS/EA) claiming super-wealthy private jet owners are enjoying tax breaks and luxury at the public’s expense than general aviation stood up to vociferously disagree.
While many expected 2008 to be one of the slowest summers in quite a while for the pre-owned market, foreign buying activity seems to have given the industry a boost. There are still plenty of U.S. buyers, but because prices rose to new heights a year ago as inventory fell, many seem to be holding back until the ongoing retrenchment in pricing is fully realized.
Buoyed by its Bell and Cessna properties, Textron reported second-quarter profits up 23 percent from the same period last year, chairman, president and CEO Lewis Campbell announced last month. Pointing to a backlog of 1,638 business jets at Cessna, Textron reaffirmed its outlook for the remainder of this year and forecast a solid market for the Citation line through 2011.
Regional carriers Comair, Republic and Trans States last month announced plans to cut hundreds of jobs. Some of the biggest cuts will come from Cincinnati-based Comair, which expects to cut 300 pilot jobs and 220 flight attendant positions as the airline moves forward with plans to remove 15 percent of its flying capacity starting next month.
The 2008 Farnborough International airshow (held from July 14 through 20) largely confounded widespread predictions that provide clear evidence of an industry heading into a downturn. A fresh wave of airliner orders, mainly from carriers in the fast-growing Middle Eastern and Asian markets, bolstered Airbus and Boeing, along with their phalanx of global suppliers.
Gulfstream Aerospace parent General Dynamics late last month reported a 25-percent increase in profits during the second quarter, thanks in large part to climbing sales of Gulfstream business jets. The company posted a second-quarter profit of $641 million, up from $513 million in the same period a year ago, on sales of $7.3 billion.