Like it or not, we live in a global economy. While balance-of-trade issues are complex, a free-market economy opens up new sources for raw materials, goods and services and creates new markets for U.S. businesses.
With layoffs, furloughs, production cutbacks and cost controls, the industry is adjusting to the stress of the recession and the reduced demand for business aircraft.
Despite a rising stock market, a decline in new unemployment filings and other signs that the economy is recovering, the business aviation market is still bouncing along the rocky bottom, according to some analysts.
In Hawker Beechcraft’s (HBC) 10-Q quarterly report that was released last week, the Wichita-based company revealed that it is engaged in a dispute with Airbus over manufacture of Hawker airframe components. According to Hawker Beechcraft’s SEC filing, the European aircraft manufacturer submitted a request for arbitration, alleging “that [HBC] breached its obligations under the airframe purchase and support agreement dated Aug.
Hawker Beechcraft has added Germany-based Aerodata at Braunschweig (BWE) Airport to its network of authorized service centers. In addition to aircraft maintenance, Aerodata can provide turnkey special-mission aircraft worldwide. Aerodata is also a source of flight inspection systems. Hawker Beechcraft has also added Jeddah, Saudi Arabia-based Arabian Aircraft Service (Arabasco) to the Hawker 800 authorized service center network.
Hawker Beechcraft (HBC) announced here this week the delivery of the first European Aviation Safety Agency (EASA) certified piston singles and twins to enter service in Europe. Three new Bonanza G36 single-engine aircraft went to a customer in the UK and one Baron G58 twin to a customer in Poland.
Hawker Beechcraft is expanding its global service network by adding Arabian Aircraft Service (Arabasco) to support its Hawker 800 series and Aerodata of Germany to support its Beechcraft line.
RayaJet chairman Nader Dajani today explained the thinking behind the Jordanian charter operator’s purchase yesterday at EBACE of a Hawker Beechcraft Premier II light jet. “The Middle East has always been focused on luxury,” Dajani said. “The bigger and fancier, the better. In the U.S., business people work out their cost per hour and decide how they can save money. They are astute. They count dollars before cents.
Hawker Beechcraft achieved the first new aircraft sale at this year’s EBACE show when Jordanian charter operator RayaJet and its sister company Ayla Aviation Academy signed a contract yesterday evening for a Premier II. This will be the first aircraft of its type operating in the Middle East.
Rizon Jet, the Arabian Gulf-based aircraft charter and management group, is looking to bridge the European and Middle Eastern markets by establishing new bases at the Qatari capital Doha and London’s Biggin Hill Airport. The company, which originally aspired to a low-cost, light jet business model, is focusing on the higher end of the charter sector.
Hawker Beechcraft this morning reported $537.6 million in net sales in the first quarter, a decrease of $38.9 million from the year-ago time frame, but net after-tax income increased to $66.9 million, compared with a net after-tax loss of $31.3 million in the first three months of last year.