Revenue at Gulfstream Aerospace increased 18.7 percent in the first quarter of this year over the first quarter of last year, operating earnings grew 19.3 percent and backlog revenue increased 9.8 percent on the strength of a “very robust order book,” according to Nicholas Chabraja, chairman and CEO of parent company General Dynamics.
Responding to an increasing number of business jet orders and lengthening backlogs–a boon for manufacturers, but a bane for customers–Cessna, Gulfstream and Raytheon (see item below) are ratcheting up production. Cessna plans to deliver 240 Citations this year (some 60 more than last year) and 270 to 290 next year.
Gulfstream Aerospace hosted a NASA F-15 in Savannah, Ga., on February 14 for an aerial demonstration of its Quite Spike telescopic nose spike installation. If Gulfstream were ever to decide to launch a supersonic business jet, it would have to employ some means of suppressing the sonic boom while flying over land.
Typically, changes at the top occur suddenly when business is down and it’s believed that new blood is needed to bring it back up. However, that is not the case at Gulfstream, where on April 9 Joseph Lombardo is scheduled to replace Bryan Moss as president of the company and executive v-p of parent General Dynamics’ (GD) aerospace business group.
Shipments of general aviation aircraft last year increased significantly over 2005, resulting in record highs in billings and in business jet deliveries.
General Dynamics (GD) announced this morning that on April 9, Joseph Lombardo will become executive v-p of its aerospace business group and president of subsidiary Gulfstream Aerospace. He will succeed Bryan Moss. Lombardo, 58, has been Gulfstream’s COO since 2001. Moss, 66, who has been Gulfstream president since 2003, will become president emeritus of Gulfstream, a new position.
Factory product support for Gulfstream IIs and GIIIs will move out from beneath the wing of Gulfstream service centers and find itself under the umbrella of Delaware-based General Dynamics Aviation Services (GDAS) on January 1.
Deliveries of and orders for Gulfstream business jets increased last year for the first time since 2001, when the company shipped 101 jets. In its newly released financial and earnings report for last year, General Dynamics, Gulfstream’s parent company, said the OEM delivered 78 green Gulfstreams last year versus 74 in 2003.
Gulfstream delivered 113 green jets last year, 27 percent more than the 89 shipped in 2005 and exceeding by 12 the previous record of 101 deliveries set in 2001. Orders also increased by about 27 percent. According to year-end figures released yesterday by Gulfstream parent General Dynamics (GD), Gulfstream last year took orders for 159 aircraft compared to 124 in 2005.
Gulfstream Aerospace President Bryan Moss made his company’s position on supersonic business jets clear at a Paris press conference yesterday when he said, “If you want to get me fired, just report that Gulfstream is developing a supersonic business jet.”