Bombardier last month reported a year-over-year revenue increase of 22 percent, to $4.9 billion, in its second fiscal quarter ending July 31, thanks in large part to its aerospace division. The company’s aerospace division contributed $2.5 billion of these revenues in the quarter, up from $2.2 billion in the same period last year.
Charter company XOJet announced January 31 that it achieved record revenue and customer growth last year. The company, which placed $2.5 billion worth of orders at last year’s NBAA Convention for Bombardier Challenger 300s and more Cessna Citation Xs, reported an 80-percent climb in revenue and a fivefold increase in the number of customers purchasing more than 100 flight hours a year.
Phoenix-based Mesa Air Group has asked its employees to accept a voluntary 5-percent pay cut for one year in return for an incentive program tied to quarterly profits. The appeal coincided with 20-percent salary reductions for chairman and CEO Jonathan Ornstein, president Mike Lotz and executive vice president Peter Murnane. According to SEC filings, the three top executives’ base pay equals $200,000, $175,000 and $150,000, respectively.
The National Air Transportation Association provides an annual salary survey for business aviation professionals including pilots, line-service personnel, maintenance technicians, inspectors, dispatchers, customer service representatives and stock clerks.
The Office and Professional Employee International Union says that the pilot strike it led at PHI had a significant effect on the company’s 2006 financial results. The company posted a net loss of $667,000 last year, compared with net earnings of more than $14.1 million the previous year. Over the same period, the company’s operating revenues increased from $363.6 million to $413.1 million.
- Page 2