Change has come fast and furious at Piper Aircraft during the past year, with sale of the company to Imprimis by majority owner American Capital in May, followed shortly thereafter by departure of president and CEO Jim Bass and most recently the resignation of president John Becker.
Vero Beach, Fla.-based Piper Aircraft said it is delaying first deliveries of the single-engine PiperJet from the fourth quarter of 2012 until the second quarter of 2013. To compensate for the delay, Piper favorably changed contract terms for PiperJet customers, including maintaining the price at $2.19 million and changing the CPI escalator date from Oct. 1, 2007, to the beginning of this month.
On Friday, Vero Beach, Fla.-based Piper Aircraft said CEO Kevin Gould will assume the company’s presidency effective December 1. The company also announced the promotion of three other Piper executives to vice president titles and another to a senior director position.
Vero Beach, Fla.-based Piper Aircraft on Tuesday said it is delaying first deliveries of the single-engine PiperJet from the fourth quarter of 2012 until the second quarter of 2013. “Our successful efforts to engage a strategic, long-term ownership group coincided with a drastically weakened business environment,” Piper president John Becker wrote in a letter sent to PiperJet customers this week.
Piper Aircraft announced here yesterday that it has selected the touchscreen-controlled Garmin G3000 as the avionics suite for its in-development single-engine PiperJet.Piper emphasized that the G3000’s focus on being intuitive is key to melding with the PiperJet’s goal of avoiding needless complexity and enhancing user-friendliness.
Almost 27 years after bizjet legend Allen Paulson announced–and then abandoned–the single-engine jet known as the Gulfstream Peregrine, the single-engine very light jet (VLJ) concept is inching closer to fruition.
Citing a combination of specific business challenges, market conditions and capital scarcity, the three leading single-engine VLJ contenders–Cirrus, Diamond and Piper–have either implicitly or explicitly moved their development and delivery schedules decidedly to the right.
The FAA recently awarded Piper Aircraft type-certificate organization designation authorization (ODA), which gives the Vero Beach, Fla.-based aircraft manufacturer the authority to act on behalf of the agency in the approval of airplane designs and certification to FAA standards of airworthiness. The approval is similar to the previous FAA standard–delegation option authorization–that Piper held.
Following the resignation of president and CEO James Bass, Piper Aircraft has promoted two of its senior executives to assume his duties. Kevin Gould, the company’s v-p of operations, has been named CEO, while John Becker, formerly v-p of engineering, became company president. In a statement to company em-ployees, Bass said, “I have successfully completed my mission at Piper and am leaving the company in very capable hands.
American Capital on May 1 sold its entire stake in Vero Beach, Fla.-based Piper Aircraft to Imprimis, a corporate finance and investment management firm that operates from offices in Bangkok, Singapore and Brunei Darussalam. However, the new owners have pledged to keep Piper’s headquarters, production and product development facilities in Vero Beach.