Despite plummeting revenues and profits at parent company Textron, Bell Helicopter posted significantly improved first-quarter results compared with the same period last year. Revenue increased from $574 million to $742 million and pre-tax profits soared from $16 million to $69 million.
Bell Helicopter anticipates receiving Transport Canada type certification for the 429 twin-turbine light helicopter by the end of June, followed swiftly by FAA validation and, a few weeks farther out, EASA approval. Company officials told AIN that all component testing and flight testing is complete, with just software approval remaining for Canadian certification.
Parts counterfeiting presents a serious concern for manufacturers, and a California company has designed a technique to protect OEMs and operators. “About two percent of the 26 million parts installed on aircraft worldwide
are counterfeit; that’s roughly half a million parts, ranging from hardware to advanced electronics equipment,” Ben Jun, vice president of technology for Crypto- graphy Research, told AIN.
With “revenues…down significantly in the last year,” Cessna chairman, CEO and president Jack Pelton announced on April 29 that, “To ensure our focus is on our strong products in existing markets, we are suspending our development of the Citation Columbus.” He also revealed a decision to reduce production rates for this year and next in response to “a continued decline in global demand for our aircraft.”
Cessna Aircraft and Bell Helicopter parent Textron yesterday reported that first-quarter revenues dropped year-over-year by 24 percent to $2.5 billion, while after-tax profits fell steeply to $86 million from $231 million in the same period last year. At Cessna year-over-year revenues decreased $477 million to $769 million in the quarter, mainly due to the delivery of 69 Citations versus 95 in the first quarter of last year.
The helicopter industry isn’t immune to the terrible trouble affecting the global economy, but if Heli-Expo’09 is any indication, the greater diversity among operators of the world’s helicopter fleets helped deliver record high attendance and exhibitor activity.
Textron has plans to boost its liquidity by at least $1 billion in the first half of this year and, if successful, the company “won’t have to think about selling any of our core assets,” according to chairman and CEO Lewis Campbell. The Providence, R.I.-based company has already divested itself of a lesser, unidentified asset and is in the process of exiting its finance business.
Bell Helicopter (Booth No. 3975) has launched a Web site for its Helicopter Professional Pilots Safety Program (Heliprops). In addition to information about the program, which provides training and industry news, the Web site (www.heliprops.com) also offers access to the manufacturer’s online newsletter, Human AD. The Web site is a free resource for pilots, mechanics, owners, operators and enthusiasts.
Former Bell Helicopter CEO Terry Stinson has joined the board of directors of Fidelity Flight Simulation. Stinson served as the CEO and chairman of the board of directors of Bell Helicopter from 1997 to 2002, during which time he acquired a number of Boeing helicopter lines, launched a joint venture with Agusta and opened the V-22 Osprey facility in Texas. He currently serves as group vice president of structures and systems, for AAR.
The projected certification date for Bell’s new 429 light twin has slipped again.
At a press conference here yesterday, Bob Fitzpatrick, Bell Helicopter senior vice president of business development and commercial programs, said the company now expects Transport Canada and concurrent FAA certification for the helicopter in May.