While defining the SF50 Vision personal jet program as the company’s top priority, Cirrus president and CEO Brent Wouters yesterday told order holders that he did not know when the $1.72 million jet would enter service, based on the current funding levels.
AINalerts » January 28, 2010
Although pre-owned business aircraft sales are nowhere near the peaks of 18 months ago, the inventory of used aircraft is beginning to recede, according to statistics released by industry data provider Amstat.
In its latest Business Jet Update, UBS reports that last month’s business jet activity was up approximately 5 percent over December 2008, marking the first year-over-year increase since mid-2007. With a seasonal adjustment, December’s bizjet usage represents an approximately 3-percent increase from the previous month, and is now 22 percent above the low set last March.
Textron, the parent company of Cessna Aircraft and Bell Helicopter, announced fourth-quarter 2009 and end-of-year numbers this morning and the news was somber. Cessna’s revenues for the fourth quarter 2009 dropped $642 million compared with the same period in 2008. Profits decreased $170 million and the order backlog fell 29 percent from the previous quarter, to $4.9 billion, primarily the result of cancellations.
In a conference call with analysts yesterday, General Dynamics president and CEO Jay Johnson summarized full-year and fourth-quarter results for the defense and aerospace manufacturing conglomerate. Overall, sales climbed 9.2 percent over 2008, to nearly $32 billion, “driven entirely by our defense businesses,” he said. This growth was offset by a 6.2-percent decline in aerospace revenue during 2009 versus 2008.