In the wake of political influence that forced Citibank on Tuesday to ditch plans to take delivery this year of a $42 million Dassault Falcon 7X it ordered in 2005, NBAA president and CEO Ed Bolen penned a letter to President Obama defending companies’ use of business jets.
AINalerts » January 29, 2009
Textron, parent company of Cessna Aircraft and Bell Helicopter, released its fourth-quarter and full-year financial results this morning amid continued concerns of a weakening economy. In a conference call with reporters, chairman and CEO Lewis Campbell underscored the seriousness of the situation.
Bucking the current economic tide, Gulfstream Aerospace and Jet Aviation parent company General Dynamics yesterday posted strong revenues and profits for 2008, thanks in no small part to its aerospace division. Overall the company posted $29.3 billion in revenues and $2.48 billion in profits last year, up from $27.2 billion and $2.1 billion in the respective previous periods.
An agreement for German investors to take over the trainer aircraft activities of the insolvent Grob Aerospace group might have cleared the way for a separate deal to resurrect Grob’s SPn light business jet program. Grob’s insolvency administrator, Dr.
Citing the state of the economy, NBAA yesterday announced the cancellation of the inaugural Light Business Airplane Conference (LBA2009) scheduled to be held in San Diego in March. The move comes just one month after NBAA “recalibrated” the show from a three-day schedule to two–March 13 and 14.
Russian investment firm Industrial Investors today announced it is seeking to sell all or a portion of AAI Acquisition, the company formed to buy the assets of bankrupt very light jet developer Adam Aircraft Industries last April.