Bell Helicopter’s new CEO, John Garrison, is expecting 2010 to be a flat year in terms of civil deliveries, but he said he sees significant growth on the military side, thanks to a production ramp-up for the V-22 tiltrotor and the H-1. Military revenues should jump by 15 percent, he added. Bell is here on Stand Q01 and on the static display with the new Bell 429 light twin, which is touring Asia.
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.
The FAA is adopting an airworthiness directive (AD) for Bell Helicopter Textron Canada (Bell) Model 407s and 427s. It is based on a mandatory continuing airworthiness information (MCAI) AD issued by Transport Canada.
Bell Helicopter Textron of Fort Worth, Texas, delivered the first Bell 429 customer aircraft to launch customer Air Methods on August 1, after which S/N 57006 flew south from Bell’s assembly facility in Mirabel, Quebec, to Mercy Hospital in Des Moines, Iowa.
As Providence, R.I.-based Textron labors to reduce its debt and the size of Textron Financial (its unprofitable financial arm) it is looking to its other businesses– Cessna Aircraft, Bell Helicopter, Textron Systems, and those in its industrial group–to bring the parent corporation back on the road to profitability.
Following Transport Canada certification and FAA validation of the Bell 429 in July, Bell Helicopter Textron of Fort Worth, Texas, delivered the first aircraft, S/N 57006, to launch customer Air Methods on August 1. The current Bell 429 fleet (two prototypes, three flight test and two customer aircraft) has accumulated more than 2,200 hours.
During a Textron business update yesterday, company chairman and CEO Lewis Campbell said he is seeing trends of economic stabilization, though he admitted that subsidiary Cessna Aircraft is still “fighting its way through the most difficult down cycle, maybe in the history of the business jet industry.” While he added that 2010 is going to be a “tough year” for Cessna, he believes that the business jet business is “very strong” over the longe
The City of Roseville Employees’ Retirement System has filed a class-action complaint “on behalf of itself and all others similarly situated” alleging that investors in Textron shares were misled by statements about backlogs at Cessna Aircraft. Plaintiffs would have purchased Textron shares between July 17, 2007, and Jan. 29, 2009.
Bell Helicopter received Transport Canada certification for its long-awaited new light twin, the 429, last month. The company also announced that it had completed FAA certification requirements. Deliveries of the twin Pratt & Whitney Canada PW207DI-powered, $4.865 million (2007 $) helicopter were scheduled to begin last month.
A bitter six-week strike at Bell Helicopter Textron’s transmission and rotor blade component plants in Fort Worth, Texas, ended after union members ratified a revised four-year contract offer yesterday morning. Nearly 2,500 members of United Auto Workers (UAW) Local 218 struck the company on June 14 after rejecting an initial offer from Bell that increased wages, but also increased the share of employee-paid health care costs.