Cessna president and CEO Scott Ernest will be the featured guest speaker at the next meeting of the Atlanta Aero Club, to be held at noon on August 9 at the Grand Ballroom of the Capital City Club in downtown Atlanta. The club has received a large number of advanced reservations for this event and is expecting more than 100 members and guests to attend. Ernest joined Cessna last year after a 27-year career at GE Aviation.
Under the leadership of Scott Ernest, appointed CEO last year, Cessna has accelerated new product introductions. At yesterday’s opening of the EAA AirVenture Oshkosh show, Cessna announced that the single-engine Grand Caravan turboprop is getting a bigger engine, an 867-shp PT6A-140.
Cessna Aircraft and Bell Helicopter drove most of the second-quarter growth at parent company Textron, chairman and CEO Scott Donnelly said during an investor conference call this morning. Combined, the two aviation segments accounted for $1.82 billion of Textron’s $3 billion in revenues and $187 million of its $288 million profit during the quarter.
Columbia Avionics & Aircraft Services obtained FAA STC approval to install Garmin GTN 650 and 750 navcoms in the Cessna 500, 501, 550, 551, S550 and 560. This follows a similar STC that the Columbia, Mo.-based company received in May for the Cessna 650. The touchscreen Garmin GTN navcoms are certified for full autopilot-coupled Waas LPV approaches, including vertical guidance. The STC also covers various combinations of the GTN 650/750, Garmin GTX-33ES mode-S transponders, Garmin GDL-69/A weather data link and a marker beacon receiver.
GippsAero (Hall 1 Stand D2) is currently flight-testing its new $1.3 million GA10 turboprop single and anticipates certification by May 2013. Because so much of the GA10 is based on the current GA8 piston-powered Airvan, the Australian company’s marketing manager Mark McNamara expects an expeditious certification program using one or two aircraft. “We’re excited to have the aircraft flying and headed toward certification,” he said.
Fractional-share provider NetJets has ordered up to 425 Bombardier and Cessna jets worth as much as $9.6 billion, with deliveries to begin in 2015. The purchase is the largest general aviation aircraft order in history and includes a firm order for 75 Bombardier Challenger 300s (plus options on another 125), a firm order for 25 Challenger 605s (plus options on 50 more) and and a firm order for 25 Cessna Citation Latitudes (plus options on an additional 125).
Cessna Aircraft has appointed Bill Schultz, the current president of subsidiary CitationAir, as its new senior vice president of business development for China, effective July 1.
Like most professionals of advancing years, I get fairly inundated with offers of newsletters from financial advisors and stock pickers. One of them is Stephen Leeb’s The Cash Cow.
For the uninitiated, China can be a scary place to consider establishing a manufacturing operation. Tales abound of product designs being copied, many well documented and ranging from high-end golf clubs to industrial fittings, movies, books and even electronic components.
The U.S. Senate approved legislation yesterday to reauthorize the Export-Import Bank, bringing to conclusion a dispute in Congress driven by the airline industry’s opposition to export financing of Boeing long-range aircraft purchased by competing foreign carriers. The Export-Import Act of 2012 (H.R.2072) was approved a week earlier by the House and is expected to be signed by President Obama. The bill extends the bank’s charter through 2014 and increases its lending authority by $40 billion, to $140 billion.