General Dynamics’s aerospace division, which includes Gulfstream Aerospace and Jet Aviation, saw first-quarter revenues climb 19.5 percent year-over-year, to $2.125 billion, while profits soared 30.3 percent, to $404 million, from the same period last year.
Minsheng Financial Leasing’s (MSFL) order for 60 Gulfstream jets (40 firm, 20 options) announced last week at ABACE in Shanghai is in addition to, not further confirmation of, a $2.6 billion order for 50 Gulfstreams under an MoU signed between the two companies in July 2011. Thus, Minsheng now has up to 110 Gulfstreams on order–a mix of G280s, G450s, G550s and G650s–that AIN estimates are worth approximately $5.6 billion, including options.
Deer Jet, China’s largest fleet operator, has launched its “General Aviation Equity Fund,” with the goal of increasing investment in general aviation services, such as FBOs and MROs, in China. The fund is anticipated to generate 2 billion RMB in investment capital in the first round, towards a total of 5 billion RMB. Deer Jet announced the fund here at ABACE 2014
To supplement its service and support presence in the Asia-Pacific region, Gulfstream opened a customer support contact center at its Product Support Asia headquarters in Tung Chung near Hong Kong International Airport. The center will initially focus on over-the-counter sales and warranty support. Technical operations personnel, to include avionics/electrical and technical/mechanical systems specialists for all Gulfstream models, will be added later this year.
The OEM has maintenance technicians at the Gulfstream Beijing service center to perform the work.
Switzerland-based Jet Aviation Management (Booth P326) announced here at ABACE 2014 in Shanghai that it is adding two Gulfstream G450s and a new Gulfstream G550 to its managed fleet in Asia, bringing to 30 the number of aircraft it operates in the region.
The G550 and one of the G450s will be based in Hong Kong and maintained by the company’s Hong Kong maintenance facility, a Gulfstream Authorized Warranty Service Center for G450/G550/G650 aircraft. Delivery of the aircraft is expected by the end of next month.
Minsheng Financial Leasing (MSFL), Asia’s largest business jet leasing firm, announced nearly $3 billion in orders with Gulfstream and Bombardier today at ABACE 2014 in Shanghai. It placed the orders from both OEMs in the fourth quarter.
Minsheng Financial Leasing Co. (MSFL), Asia’s largest business jet leasing firm, is climbing steeply to increase the size of it inventory even more. On perhaps one of the clearest days in ABACE memory, Minsheng confirmed yesterday that it had placed orders with both Gulfstream and Bombardier in the fourth quarter of last year.
Gulfstream’s super-midsize G280 added two speed records during its flight to Shanghai for ABACE 2014, with city-pair records between Germany and Dubai and then on to Hong Kong.
From Germany’s Friedrichshafen Airport, the G280, piloted by Brett Rundle and Bruce Egart, flew 2,751 nm to Dubai International Airport in five hours and 49 minutes, for an average speed of Mach 0.84. The same crew then flew 3,449 nm to Hong Kong International Airport in seven hours and seven minutes, at an average speed of Mach 0.82.
Gulfstream’s super-midsize G280 added two new speed records during its flight to Shanghai for ABACE 2014, with new city-pair records between Germany and Dubai and then on to Hong Kong.
From Friedrichshafen Airport in Germany the G280, piloted by Brett Rundle and Bruce Egart, flew 2,751 nm to Dubai International Airport in five hours and 49 minutes, at an average of Mach 0.84. The same crew then flew 3,449 nm to Hong Kong International Airport in seven hours and seven minutes, averaging Mach 0.82.
Gulfstream Aerospace’s substantial investment in establishing China’s first factory-owned service center for business aircraft appears to be paying off as the U.S. airframer prepares to add support capability for its latest G650 and G280 models later this year.