Dassault Results Reveal NetJets Delays, Cancellations

 - November 19, 2009, 10:57 AM

Disclosing its financial results for the first three quarters of the year, Dassault on November 12 indicated that the backlog for Falcon business jets is still suffering from cancellations, while deliveries are much less affected. As of September 30, the 2009 order intake was negative, at minus €2 billion (approximately $3 billion), a number that includes Dassault’s civil and military activities. For the third quarter alone, the order intake was minus €900,000 ($1.35 million). Revenues, at €2.29 billion ($3.43 billion) for the period, dropped by 9 percent. Fifty-one Falcons were delivered versus 47 during the first three quarters of 2008. The French manufacturer expects the delivery rate to remain constant in the fourth quarter. Dassault identified the weak dollar as an additional challenge. More recently, said the company, NetJets has issued a new acquisition plan that reschedules Falcon 2000LX and Falcon 7X deliveries until 2014. After that year, the fractional does not want to make firm commitments, which translates into “the cancellation of a significant portion of the orders received,” Dassault revealed. Between 2006 and 2008, NetJets ordered a total of 56 Falcons.