In December last year, aircraft manufacturer Gulfstream Aerospace laid off “a number of contract employees” and advised that at the end of the first quarter 2009 it would consider the possibility of full-time employee layoffs. Two months into this year, parent company General Dynamics announced a reduction in force that comprises 1,200 workers, including approximately 600 contract personnel.
Gulfstream Aerospace recently completed its 2,000th airborne product support flight, achieving the milestone seven years after introducing the on-demand maintenance service in May 2002.
Less than 40 days ago, General Dynamics chairman and CEO Nicholas Chabraja said subsidiary Gulfstream was seeing demand for large-cabin jets hold strong, though he acknowledged that sales of its midsize jets had “dramatically softened.” At the time, Chabraja predicted that Gulfstream would deliver 94 large-cabin jets (seven more than last year) but would more than halve midsize shipments to “about 30.” Today his expectations met the reality of
Gulfstream Aerospace yesterday said it reached a milestone in development work on the large-cabin G650 and announced that it achieved first flight of a simulated version of the jet on December 15 at the G650 Integration Test Facility (ITF) in Savannah, Ga. The ITF includes a full-scale G650 cockpit equipped with avionics, some production hardware and sensors as well as a full-scale cabin mockup with galley.
Bucking the current economic tide, Gulfstream Aerospace and Jet Aviation parent company General Dynamics yesterday posted strong revenues and profits for 2008, thanks in no small part to its aerospace division. Overall the company posted $29.3 billion in revenues and $2.48 billion in profits last year, up from $27.2 billion and $2.1 billion in the respective previous periods.
The UK Civil Aviation Authority (CAA) has approved Gulfstream’s London Luton Service Center to perform maintenance on EASA-registered Gulfstream G150s.
The amended certificate means the maintenance facility can now provide comprehensive service for the Gulfstream G550, G500, G450, G350, G200, G150, G400 and G300 as well as the GV, GIV-SP, GIV, GIII and GII.
Gulfstream Aerospace recently launched BudgetPlus, a parts subscription service that offers mid-cabin Gulfstream owners and operators a way to manage their annual maintenance costs. The launch formalizes a pilot program Gulfstream introduced in 2005.
Gulfstream has formally launched the BudgetPlus service, offering cost-assured parts provision for owners of the Astra, G100, G150 and G200. The company had been running the service as a pilot program to test an hourly-cost parts subscription service for owners of its mid-cabin jets who want predictable annual maintenance costs. BudgetPlus customers pay a flat hourly fee, which covers exchange and consumable parts.
Despite facing the gravest economic slowdown in decades, officials for Gulfstream Aerospace (Chalet No. 24) say they remain optimistic about the long-term health of business aviation and point to the Middle East market as an enduring bright spot.
Gulfstream Aerospace parent General Dynamics yesterday finalized its purchase of Zurich, Switzerland-based Jet Aviation from Permira Funds private equity group for approximately $2.18 billion, significantly expanding General Dynamics’s aftermarket service footprint around the world. The deal was originally announced on August 19, but had to be approved by antitrust authorities before closing.