Textron, parent company of Cessna Aircraft, held its first-quarter 2013 earnings call yesterday, and the news was not particularly uplifting for its Wichita-based business segment. Customers in the light jet market, who tend to be small business owners, continue to defer purchase decisions, “reflecting continued concerns about their financial outlook,” said Textron chairman and CEO Scott Donnelly. As a result, he continued, Cessna delivered 32 new jets in the first quarter, six fewer than the same quarter last year, “resulting in a segment loss in the quarter of $8 million.”
Production of Cessna Aircraft’s new Citation Latitude is on schedule, and the company expects that full airframes will be on the manufacturing lines by year-end. The midsize business jet is scheduled to fly in the first quarter of next year. The Wichita-based aircraft manufacturer has already started building test articles, and has moved from engineering, analysis and modeling to cutting metal. Meanwhile, Cessna started a 19-city tour in the U.S. last week that showcases a Citation Latitude cabin mockup.
The Beechcraft King Air turboprop fleet has surpassed 60 million flight hours, the Wichita-based aircraft manufacturer announced today at the Sun ’n Fun Fly-in in Lakeland, Fla. More than 7,000 King Airs are currently flying in 127 countries around the world, including all branches of the U.S. military. “We greatly value the global experience of our customers and use it to drive major and minor product improvements in the King Air line,” said company executive vice president of sales and marketing Shawn Vick.
Edward Burns, 93, the president of Beech Aircraft from 1981 to 1982 and a 40-year employee at the company, died Friday. Burns, also the nephew of company co-founders Walter and Olive Ann Beech, was the fourth president at the Wichita-based aircraft manufacturer, succeeding Frank Hedrick. Burns retired in 1982, reportedly after clashing with executives at Raytheon, which acquired Beechcraft that year.
Hawker Beechcraft appointed Ted Farid as sales vice president for the Asia-Pacific region, which spans all of North and South Asia, including India. He joined HBC in 1996 and has most recently served as senior vice president for international sales and new business development. For now, Farid will continue to be based at Beechcraft’s headquarters in Wichita, but he plans to relocate to the Asia-Pacific region, mostly likely either Singapore or Hong Kong.
Hawker Beechcraft Corporation (HBC) has appointed Ted Farid as sales vice president for the Asia-Pacific region, which spans all of North and South Asia, including India.
Hawker Beechcraft, in what it hopes is the final phase of Chapter 11 bankruptcy proceedings, saw its employment level in Kansas drop to 3,372 as of December 31, triggering an automatic reduction in the annual incentive payment from the State of Kansas. In 2010 the company was granted $45 million in incentives by the state, based on an agreement to maintain employment in Kansas at 4,000.
The Middle East is continuing its trend in the growth of new aircraft deliveries, according to data released this week at MEBA 2012 by Hawker Beechcraft, which says it is picking up a good proportion of new orders for turboprops.
Hawker Beechcraft Corp. (HBC) rolled up to MEBA 2012 with its full line of civil Beechcraft King Air twin turboprops over the past two days as it prepared for a key court hearing, taking place today in the U.S., probing whether it has to honor warranties on Hawker 4000s and Premier I jets if, as intended, it sells its Hawker jets business to rebrand as Beechcraft Corporation.
With bankruptcy court approval yesterday of Hawker Beechcraft’s disclosure statement filed with its joint plan of reorganization (POR), the company’s emergence from Chapter 11 appears to be accelerating. The court’s move allows Hawker Beechcraft to begin soliciting approval of the POR from its creditors.