A recent J.P. Morgan report reassessed the effect of the acquisition of Jet Aviation by General Dynamics “in light of the tough business jet environment.” For 2009 and 2010, the report said, “We are now looking for sales [at Jet Aviation] of $1.4 billion in 2009, a bit below GD’s guidance for $1.5 billion, which had been our prior estimate.
Green Flight International president and CEO Douglas Rodante and chief pilot Carol Sugars on November 1 became the first flight crew to cross the U.S. in a jet powered predominantly by biofuel. The 11-hour, 13-minute flight–conducted in Green Flight’s L-29 single-engine jet–originated in Reno, Nev., and concluded in Leesburg, Fla.
Macquarie Infrastructure, which owns the 64-base Atlantic Aviation FBO chain, reported that its airport services business achieved “year-over-year growth in gross profit…driven by acquisitions concluded in 2007 and 2008.” Although industry reports showed that general aviation movements have dropped by 9 percent or more through the first nine months of this year, airports where Atlantic operates have seen movements decline by less than 6 percen
Concluding a transaction first announced in August, General Dynamics last month finalized its purchase of Jet Aviation at a cost of approximately $2.18 billion from Dreamliner Lux, a company controlled by the Permira Funds.
Gulfstream Aerospace parent General Dynamics yesterday finalized its purchase of Zurich, Switzerland-based Jet Aviation from Permira Funds private equity group for approximately $2.18 billion, significantly expanding General Dynamics’s aftermarket service footprint around the world. The deal was originally announced on August 19, but had to be approved by antitrust authorities before closing.
Gulfstream Aerospace parent General Dynamics today finalized its purchase of Zurich, Switzerland-based Jet Aviation for approximately $2.18 billion, significantly expanding the General Dynamics aftermarket service footprint around the world. The move not only increases General Dynamics’s maintenance and completions/refurb capability worldwide but also adds 15 FBOs to its portfolio, including five in the U.S. At Gulfstream’s Savannah, Ga.
UBS Investment Research’s business jet report–released yesterday–shows that business jet flight activity was 13 percent lower last month compared with the same period last year, although the data was slightly better than the 18-percent year-over-year decline in August. Year-to-date, flight activity is down 9 percent.
At the end of September, the UBS Investment Research group released a business jet update that came as no surprise to U.S. charter operators. The analysts reported that business jet flight activity was “sharply lower” in August, noting an 18-percent drop from the same period last year and an 8-percent drop year-to-date. The figures were “driven mainly by reduced charter activity,” which fell 11 percent on a rolling 12-month basis.
Business Jet Center at Oakland International Airport is celebrating its fifth anniversary of FBO operations this month. Over the past three years, the Bay Area FBO has recorded a 106-percent increase in combined jet-A and avgas pumped while traffic has increased by more than 200 percent. Since beginning operations in 2003, Business Jet Center (Booth No.
After a year of programming and Web design, Globalair.com has unveiled a new graphical fuel-price route planning service that allows operators to plot trips via airports offering the lowest fuel prices. Globalair.com’s new Max-Trax service shows prices at FBOs that participate in the company’s Airport Resource Center (ARC) information service, for both jet-A and 100LL avgas buyers. Demos are available at Globalair.com’s NBAA booth (No.