Gulfstream Encouraged by Market Activity

 - September 30, 2010, 5:44 AM

“There’s a fair amount of caution out there, but we’re seeing steady activity at our Gulfstream and Jet Aviation subsidiaries,” Jay Johnson, chairman and CEO of Gulfstream and Jet Aviation parent company General Dynamics, said last month at the Morgan Stanley Global Industrials Unplugged Conference. Backlog for current-production large-cabin Gulfstreams is “about where we want to be” at 18 months, he noted. There are also orders for almost 200 G650s, which won’t start being delivered until 2012. Johnson said the midsize business jet market is “beginning to stabilize,” though he added, “It’s not where it needs to be or where it will be, but we’re seeing order book activity for mid-cabin Gulfstreams at modest but encouraging levels.”