Gulfstream Aerospace broke ground on a new manufacturing site last month. The 306,000-sq-ft facility is the first since the company brought GII production to Savannah in 1967. The building is slated to be completed next April. Gulfstream also plans to use the existing service center for manufacturing after a new and larger service and support center is completed in late 2009.
Revenue at Gulfstream Aerospace increased 18.7 percent in the first quarter of this year over the first quarter of last year, operating earnings grew 19.3 percent and backlog increased 9.8 percent from the end of last year on the strength of a “robust order book,” according to Nicholas Chabraja, chairman and CEO of parent company General Dynamics. Chabraja said Gulfstream plans to deliver 82 large aircraft this year.
Revenue at Gulfstream Aerospace increased 18.7 percent in the first quarter of this year over the first quarter of last year, operating earnings grew 19.3 percent and backlog revenue increased 9.8 percent on the strength of a “very robust order book,” according to Nicholas Chabraja, chairman and CEO of parent company General Dynamics.
Denver-based Avtrak, in association with technology partner Advanced Solutions of Littleton, Colo., has entered into an agreement with Gulfstream Aerospace. The agreement stipulates that Avtrak will provide its GlobalNet maintenance management technology to be the foundation for Gulfstream’s new computerized maintenance program, CMP.net.
Gulfstream Aerospace has developed an airstair hoist system that provides easier access for business jet passengers who require a wheelchair or have difficulty climbing stairs. “When combined with an airline-approved wheelchair, the system enables the passenger to enter the aircraft via a platform that ascends the airstair, stopping at the entrance of the main cabin door.
Executive Jet Management (EJM) announced changes to its management team with three personnel movements. Kaj Wren was hired for the new position of director of charter vendor standards. He was formerly chief pilot for three aviation companies. Ben Murray was promoted to national v-p of charter sales and John Nelson was promoted to v-p of business systems. Murray was previously EJM’s regional v-p of charter services.
Gulfstream’s first-quarter operating earnings and margins improved from the same period last year. Business jet deliveries increased for the second consecutive quarter–to 17 in the first quarter compared with 15 in the first three months of last year. Gulfstream projects delivering 53 to 55 “large” aircraft (G300 through G550) this year, compared with 50 last year.
Bell Helicopter announced last month it is relocating its commercial business unit’s worldwide sales and marketing offices and the Bell Training Academy to the facility formerly occupied by Galaxy Aerospace/Gulfstream at Fort Worth Alliance Airport, Texas.
Manufacturers delivered 518 new business jets last year, some 23 percent fewer than the 676 shipped in 2002, according to the annual year-end report released last month by the General Aviation Manufacturers Association. Last year’s figure is the lowest level since 1998, when 520 business jets were delivered.
Buyers continued to roll up their sleeves and involve themselves with the used aircraft market, driving down further what has been for the last few years a vast supply inventory. The 10-percent depletion in used aircraft inventory over the last 13 months has taken a step toward assuaging the doubts of many left shell-shocked by nearly three years of market malaise.