Sales, deliveries of new Raytheon aircraft dip
Raytheon Aircraft reported sales of $768 million in the second quarter of this year, compared with $810 million for the second quarter last year. Operating income also fell, from $35 million in last year’s second quarter to $27 million in the second quarter of this year. Deliveries of King Airs and corporate jets through the second quarter of this year dropped more than 20 percent: from 149 airplanes last year to 118 this year. In June Raytheon Aircraft revised its outlook for deliveries for the year of its entire turbine and piston fleet to 468, down from the 508 planned. The company also announced it would reduce production rates on the Beechjet (13 delivered in the first six months of this year vs 26 delivered in the same timeframe last year) and King Airs (71 delivered in the first six months of this year vs 89 in the same period last year).