The Pritzkers of Chicago–one of the nation’s wealthiest families, with controlling interest in the Hyatt hotel chain and one-time part owner of the former Galaxy Aerospace–agreed to pay a record $460 million to the federal government to avoid possible lawsuits from the failure of its Superior Bank.
Gulfstream Aerospace plans to cut about 480 people from its workforce of 8,000, citing a drop in business jet orders in response to the slowing economy. The Savannah, Ga.-based manufacturer laid off 200 employees last fall. Gulfstream, a subsidiary of General Dynamics, also revealed it will cut back production of GIV-SPs and GVs by 11 to 15 percent, or about eight to 10 aircraft this year.
Although a gloomy sky hung over Geneva Palexpo Center, the view could hardly have been better yesterday morning for a group of aviation journalists invited by Gulfstream on a breakfast flight over the Alps in a G200.
Two months after launching the biggest, fastest and priciest Gulfstream ever, top executives for the U.S. business jet maker arrived at EBACE with a growing order book for their new G650 and sky-high optimism about the direction of the company overall.
Worldwide shipments of business aircraft in the first six months of the year set a record as the industry’s best first half ever. With final numbers yet to be released by Airbus and Piaggio, the industry recorded shipments in the first half of the year of 518 airplanes, compared with the 503 total aircraft shipped in the first half of last year.
Gulfstream Aerospace’s choice of Stork Aerospace to be a major partner for its new G650 large-cabin business jet is
not surprising, given the long-standing alliance between the U.S. and Dutch firms. Stork is developing and manufacturing composite tail and bonded fuselage panels for the G650.
Savannah, Georgia-based Gulfstream has named Sumi Fonseka the new general manager of its Luton Service Center, located at the UK’s London-Luton Airport. Prior to his appointment, Fonseka was the senior hangar operations manager at the companies’ South Service Center in Savannah.
Deliveries of Gulfstream business jets in the first quarter were down slightly compared with the same period a year ago, but the firm’s first-quarter order backlog of $6.4 billion was an increase of $900 million from last year. Gulfstream said it delivered 15 green GIV-SPs and GVs (vs 18 in the first quarter last year) and 10 finished G100s and G200s (the same as last year’s first quarter).
Following a special ceremony planned for December 3 marking the end of production of the Gulfstream IV series at the 500th aircraft, the popular business jet will henceforth be known by two new names–the new large-cabin, long-range Gulfstream G400 and the large-cabin, mid-range Gulfstream G300. The Savannah, Ga.
Shipments of new turbine business aircraft manufactured throughout the world have taken a nose dive since last year. This year’s deliveries totaled 601 units in the first nine months, down 196 (25 percent), from the same period last year, according to figures compiled by the General Aviation Manufacturers Association (GAMA) and AIN.