Robert Brown, president and CEO of Montreal-based pilot training provider and simulator manufacturer CAE, has announced his retirement effective at the end of this month. He will be succeeded by executive vice president and COO Marc Parent. Brown will remain with the company in an advisory capacity until the end of the year.
Bombardier Aerospace yesterday confirmed that ExecuJet Aviation no longer holds exclusive sales representation for new Bombardier Challenger, Learjet and Global business aircraft.
Bombardier Aerospace announced today that it has “terminated its firm and conditional order purchase agreement with Jet Republic.” The cancellation removes 25 firm orders for Learjet 60XRs worth $340 million from Bombardier’s backlog. Jet Republic launched a European fractional-share company last year with an order for 110 Learjet 60 XRs and financing by Austria’s Euram Bank. Deliveries of the first airplanes were to have begun this October.
CAE on Wednesday announced that its president and CEO, Robert Brown, will retire on September 30. CAE’s board of directors has appointed Marc Parent, CAE’s executive vice president and COO, as Brown’s successor. Brown has agreed to serve as an advisor until the end of December.
Bombardier Aerospace has named Indianapolis-based Comlux Completion USA an authorized AOG/line maintenance facility. The authorization allows Comlux to perform work on the airframer’s Learjet, Challenger and Global series. The company’s 44 aircraft maintenance technicians, 12 support personnel and 24 completions employees provide both maintenance and VIP cabin completion services out of Comlux’s 47,000 sq ft of dedicated hangar space.
Bombardier Aerospace has issued a new market forecast for regional and business aircraft which paints a picture of temporary gloom giving way to long-term strength, with overall 20-year order and delivery (O&D) expectations not much lower than the Canadian manufacturer was predicting a year ago.
Bombardier Aerospace released its first-quarter results yesterday, reporting a net profit of $158 million for the quarter ending April 20, down from $229 million for the same quarter last year. Overall revenue slipped to $4.5 billion from $4.8 billion.
The change in fortunes of the business aviation industry since the 2008 EBACE show last May truly beggars belief. Since sometime around September last year the financial crisis–caused at least in part by self-destructive behavior of some of the industry’s best customers, the bankers–has been one kick in the teeth after another.
Two veteran American Airlines pilots, who in the words of the NTSB were “not having a good day,” nevertheless used “some exceptional stick-and-rudder skills” to get their crippled MD-82 safely back to Lambert-St. Louis International Airport (STL) after experiencing an in-flight engine fire during the airliner’s departure climb on Sept. 28, 2007.
Montreal-based Bombardier on Thursday announced that revenues increased by 13 percent to $19.7 billion in the fiscal year ending January 31. Meanwhile, its profits nearly tripled from the previous fiscal year to $1 billion for FY2009.