Wichita-based Raytheon Travel Air and Cleveland-based Flight Options on March 20 completed their planned merger, first announced December 20, creating the second-largest fractional aircraft provider. Under the joint venture, Flight Options holds a 50.1-percent stake in the new company, while Raytheon Co. retains a 49.9-percent share.
Hawker Beechcraft reported continued strong sales for its airplane offerings in the first quarter, though snags with the Hawker 4000 resulted in the Wichita aircraft manufacturer posting a $1.5 million loss for the period. “The loss was the consequence of an $18.4 million charge related to early production Hawker 4000 aircraft,” the company said.
The world’s economy may be in a financial funk, but you wouldn’t know it from the advance sales for this month’s NBAA 54th Annual Meeting and Convention in New Orleans. Despite the global monetary downturn, at press time nearly 5,000 booth spaces had been sold to more than 1,000 exhibitors–124 of which are first-timers.
Last year’s dot-com nosedive has taken its toll on the startup companies planning to build new business aircraft and seeking ever more elusive investor funding. Notably, Century Aerospace in June indefinitely shelved its plans to build the entry-level six-place, twin-turbofan Century Jet.
When the going gets tough, marketing departments heat up their branding irons. Or so it seemed at the 55th NBAA Annual Meeting and Convention in Orlando, Fla., last month. No fewer than three major business aircraft manufacturers announced new or reinvigorated brands for at least one of their offerings (see full stories elsewhere in this issue). The moves were as much a reaction to the wishy-washy U.S.
By almost any measure NBAA’s annual convention, held September 10 to 12 in Orlando, Fla., can be considered a rousing success.
The Chinese proverb “may you live in interesting times” certainly seems appropriate for manufacturers and would-be manufacturers of new business airplanes. Interesting times indeed: with the weaker than expected economic recovery, and the specter of a possible double-dip recession, even some established, well financed business aircraft manufacturers are stretching out timelines for their respective new products.
Deliveries of the Hawker 4000 have not yet begun, despite Hawker Beechcraft saying for more than a month that it would “soon” start shipments of the super-midsize business jet, now in its 12th year of gestation. The FAA currently lists 30 Hawker 4000s–two more than last month–in the U.S. aircraft registry database, all of which are registered to the manufacturer.
Deliveries of the Hawker 4000 were still stalled at press time, despite Hawker Beechcraft’s saying for more than a month that it would “soon” begin shipments of the super-midsize business jet. The FAA lists 30 Hawker 4000s in the U.S. aircraft registry database, all of which are registered to the manufacturer.
Considering the circumstances, NBAA, its membership and participants in the association’s 2001 convention in New Orleans were generally satisfied, despite the reduced numbers of attendees and exhibitors. This year, despite a struggling U.S. economy, show organizers for the Orlando event expect a show equal in scale to what had originally been anticipated in New Orleans.