Cessna Aircraft and Bell Helicopter drove most of the second-quarter growth at parent company Textron, chairman and CEO Scott Donnelly said during an investor conference call this morning. Combined, the two aviation segments accounted for $1.82 billion of Textron’s $3 billion in revenues and $187 million of its $288 million profit during the quarter.
AINalerts » July 19, 2012
India’s Business Aircraft Operators Association (BAOA) is threatening legal action against financial penalties imposed since July 1 by Mumbai International Airport (MIAL) on transient aircraft parked at Mumbai Chhatrapati Shivaji International Airport beyond an agreed number of days. The penalty is seven times more than the present cost of parking, BAOA said.
The airport, which cannot be expanded beyond its single runway, has been a concern for many years as commercial and business aviation traffic has increased. A second airport is at least seven years away from completion.
NBAA has commissioned from Nexa Advisors a fourth installment in a series of studies that analyze the value of business aviation. This new study, which will examine how companies that use business aviation fared during the recent economic downturn, will be completed in time for the NBAA Convention, to be held October 30 through November 1 in Orlando, Fla.
Hawker Beechcraft filed a request with the U.S. bankruptcy court requesting permission as part of the restructuring to grant bonuses to most of its “senior leadership team.” The incentive bonuses under the key employee incentive plan could total as much as 200 percent of each individual’s base salary; however, the filing makes clear that the bonuses are based on the achievement of certain incentive goals.
Two general aviation groups provided suggestions to a House congressional panel yesterday on how to make further security improvements to the process of training flight school students from foreign countries in the U.S.
British investigators are focusing on a fractured bevel gear vertical drive shaft as a contributing factor in the North Sea ditching of a Bond Offshore Eurocopter EC225LP Super Puma (G-REDW) 20 nm east of Aberdeen, Scotland, on May 10. The UK’s Air Accidents Investigation Branch (AAIB) issued a bulletin late last week on its preliminary findings.
Jetex Flight Support has introduced a new program that allows qualifying aircraft operators to buy fuel more easily without paying value added tax (VAT). The service is provided through the flight planning and support group’s new subsidiary, Jetex Fueling Services. Initially the program will be available in Austria, the Czech Republic, Finland, France, Germany, Ireland, Poland and Switzerland. Jetex intends to extend it to other countries in the future, according to program manager Ahmed Ghazal.
Landmark Aviation has established a temporary FBO at the London-area Southend Airport. In a partnership with the privately owned airport, the U.S. handling group will support business aircraft operations through the period of the London Olympic Games. The deal runs through October 1 and both parties hope that it could lead to a more permanent presence for Landmark at the airport, which is almost 40 miles from the center of the UK capital. Southend Airport has its own rail station with eight direct services each hour to Stratford, close to the main Olympic Stadium.
Sonex Aircraft JSX-1, the proof-of-concept prototype of the SubSonex single-engine very light jet, will be flying during the showcase presentation at EAA AirVenture Oshkosh, which starts on Monday. The SubSonex is currently scheduled to fly a five-minute demonstration in three of AirVenture pre-airshow showcases–Monday, Wednesday and Saturday. The showcase takes place each day of the airshow between 2:30 p.m. and 3:30 p.m. Famed airshow performer Bob Carlton will be piloting the small jet during these flying displays.
Austin (Texas) Executive Airport, which is celebrating its one-year anniversary, has opened a new 26,650-sq-ft hangar for business aircraft, bringing the airport’s available hangar lease space to more than 63,000 sq ft. According to airport officials, the 6,025-foot runway and hangars can accommodate business aircraft up to the size of ultra-long-range jets such as the Gulfstream G650 and Bombardier Globals. Henriksen Jet Center provides FBO services at the airfield.