Crane Aerospace & Electronics has received a number of new product approvals and selections on a variety of business jets. Crane’s FAA-approved SmartStem wireless tire pressure monitoring system now allows Part 135 pilots to check tire pressures on all certified aircraft. “There are presently no other products on the market that allow a Part 135 pilot to check his own tires,” the company noted.
Hawker Beechcraft is moving ahead with restructuring during Chapter 11 bankruptcy protection, and in a press conference here yesterday HBC chairman Bill Boisture made it clear the new Beechcraft Corp. that emerges in the first quarter of next year will focus on the turboprop and piston aircraft lines.
Charter/management company JFI Jets (Booth No. 2120) has announced its Moscow-based charter partnership, JFI Russia, established last year, is ready for business.
“The deal in Russia has moved into the forward mode,” said Bob Seidel, CEO of the New York City-based charter operator. “We put it on hold for a while. There was political uncertainty for some of the clients and a desire to keep a low silhouette. But now the political landscape is better understood. We’re starting to see the Russians flying again.”
Charter market data services provider Avinode (Booth No. 2120) of Goteborg, Sweden, will present the Avinode 2013 Business Forecast followed by a panel discussion with charter operators at 1 p.m. today in Room N220A here at the NBAA convention.
Third-quarter revenues at General Dynamics’ aerospace division, which includes Gulfstream Aerospace and Jet Aviation, were $1.8 billion, up 30 percent from a year ago due to more green G650 deliveries, while profits rose 20.3 percent, to $261 million.
While Embraer’s third-quarter numbers, released yesterday, showed “its best gross margin in several years,” the company’s 13 executive jet deliveries were the same as in the first quarter and seven below the second quarter. Deliveries in the third quarter–11 light jets and two large jets–were also five below those logged in the third quarter last year. Embraer expects deliveries in the fourth quarter to show a substantial jump, typical of industry as a whole in the final period of the year.
In looking for something to validate my feeling about what a lackluster year it has been in the preowned segment, I compared the year-ago inventory level with this year’s numbers at this time, and even though my gut feeling told me so, the results were still a bit surprising.
Last year’s inventory was 2,572, and this year’s number was exactly the same. In between there have been slight upticks and one small downtick that unexpectedly came this past summer, when inventory more often builds than diminishes.
Before digging into the details of each of the light jet markets, it’s worth noting some global factors affecting the market. In 2012, the big story in the light jet market was Europe and the devaluing euro. As the light jet market typically trades in U.S. dollars, with the euro dropping nearly 20 percent in value compared to last year, European sellers saw an opportunity to take advantage of the strong dollar and liquidate at relatively lower dollar values for their assets, yielding a higher amount of euros.
The 65th Annual NBAA Meeting and Convention in Orlando, Fla., is taking place as the U.S. presidential election looms and with the state of the global economy very much on the minds of people worldwide. AIN recently took the opportunity to ask the leaders of several business aircraft manufacturers for their thoughts on the state of the economy and their forecasts for the business aviation industry.
Cessna Aircraft has signed agreements renewing Jet Aviation’s Dusseldorf, Germany, and Zurich, Switzerland, operations as Citation authorized service facilities. The extension of its relationship with Jet Aviation is the latest development in Cessna’s drive to expand its customer support network in Europe. The company recently launched new Cessna-operated Citation service centers in Doncaster, UK, and Valencia, Spain, to complement existing Citation-operated service centers in Paris, and Prague, Czech Republic.