AAI Acquisition, the company formed to buy the assets of bankrupt Adam Aircraft Industries, is closing its doors at Centennial Airport in Englewood, Colo. “It’s come to a very quiet and sad ending,” said Robert Olislagers, airport director of Centennial Airport, where Adam Aircraft certified and produced the composite A500 piston twin and tried to certify the A700 very light jet.
AINalerts » April 30, 2009
Citing global aerospace industry challenges, Honda Aircraft today announced setbacks in its HondaJet program, moving the projected first flight of a production-conforming airplane to January next year, a delay of nearly a year from its previous schedule. (A prototype made the model's first flight on Dec.
Daher-Socata early next month at EBACE will formally announce plans to invest almost $330 million to develop a new eight- to 10-seat twin-engine aircraft to offer in the market segment above its TBM 850 turboprop single. The so-called NTx program was launched at the NBAA Convention in October, but Socata still has not decided whether the new airplane will be a turboprop or a turbofan.
When Cessna chairman, CEO and president Jack Pelton said on Monday that the company’s large-cabin Citation Columbus program was being slowed, few could have imagined that two days later the Wichita-based aircraft manufacturer would announce the suspension of the project.
Cessna Aircraft and Bell Helicopter parent Textron yesterday reported that first-quarter revenues dropped year-over-year by 24 percent to $2.5 billion, while after-tax profits fell steeply to $86 million from $231 million in the same period last year. At Cessna year-over-year revenues decreased $477 million to $769 million in the quarter, mainly due to the delivery of 69 Citations versus 95 in the first quarter of last year.
The aerospace division at General Dynamics, which includes Gulfstream and Jet Aviation, “held its own” in the first quarter, parent company chairman and CEO Nicholas Chabraja said yesterday during an investor conference call. “A noteworthy accomplishment, I think, in light of business market conditions.” As a whole, first-quarter revenues at General Dynamics rose to $18.3 billion, up 18 percent from the same period last year.