After last month’s announcement that Sino Swearingen Aircraft is being taken over by Action Aviation Investors (AAI), production activity at the San Antonio-based manufacturer has yet to pick up. So far, it has delivered only two SJ30s since the airplane received FAA certification two years ago; the latest delivery occurred at the NBAA Convention.
AINalerts » October 25, 2007
The 11th annual Safety Standdown–sponsored by Bombardier Aerospace, NBAA, the FAA and the NTSB–concludes today in Wichita. This year’s “War on Error” was expanded to a three-day general session, preceded by optional one-day workshops on Monday.
General Dynamics said yesterday that its third-quarter earnings rose 25 percent thanks to demand for its Gulfstream business jets and healthy combat systems growth. The company’s aerospace segment, which includes Gulfstream, saw its earnings rise 37 percent, to $226 million, while sales climbed 21 percent, to $1.31 billion.
Industry reaction has been mostly positive to President Bush’s nomination Tuesday of acting FAA Administrator Bobby Sturgell to a five-year term to lead the agency. “We are extremely pleased by the White House’s decision to nominate Bobby Sturgell as the next FAA Administrator,” said GAMA president and CEO Pete Bunce.
Waltham, Mass.-based Raytheon, during its third-quarter earnings conference this morning, announced its decision to sell Flight Options, its Cleveland-based business aircraft fractional share division. On October 15 the company entered into a definitive agreement to sell the fractional provider to HIG Capital, a Miami-based global private investment firm.