Gulfstream order book ‘robust’
Revenue at Gulfstream Aerospace increased 18.7 percent in the first quarter of this year over the first quarter of last year, operating earnings grew 19.3 percent and backlog increased 9.8 percent from the end of last year on the strength of a “robust order book,” according to Nicholas Chabraja, chairman and CEO of parent company General Dynamics. Chabraja said Gulfstream plans to deliver 82 large aircraft this year. But production rates are still lower than desired, he added. The company delivered 30 airplanes in the first quarter. Although it’s five more than in the first quarter last year, he said it was two fewer than planned. Entry into service for a large aircraft ordered today is well into 2010.