Hawker Beechcraft, which reported a $44 million net loss and $95 million negative cash flow in October, followed that filing with the bankruptcy court by reporting in a separate filing a sales forecast of $1.9 billion in 2013 as a new, standalone company following its emergence from bankruptcy in February.
Marshall Aerospace is entering the pre-owned aircraft sales sector and expanding its executive charter division as part of a relaunch of its business aviation division. Under a new brand called Jetability, the Cambridge, UK-based group is also offering aircraft maintenance, ground handling and management, as well as concierge support and limousines.
San Francisco-based XOJet and TWC Aviation announced an alliance today under which TWC joins XOJet’s exclusive platinum partner network and TWC becomes a “preferred provider” for XOJet clients interested in aircraft ownership, management or private jet sales and acquisition services. Additionally, XOJet plans to leverage the TWC Aviation charter fleet of large-cabin business jets throughout North America and Asia. TWC manages more than 50 business aircraft throughout the U.S. and abroad, with offices in San Jose, Calif., Los Angeles and New York.
Embraer’s Legacy 600/650 program reached a significant milestone with the delivery of the 200th Legacy business jet, in this case a Legacy 650 that was handed over to China’s Minsheng Financial Leasing last week at Embraer’s headquarters in São Paulo, Brazil. This aircraft, one of the 13 Legacy 650s that Minsheng ordered last October, will be used by an undisclosed Chinese customer. Minsheng also has an outstanding order for three Embraer Lineage 1000 bizliners.
Dying is one thing. Being reborn is quite another, as Hawker Beechcraft, its employees, lenders and creditors are discovering during the current bankruptcy and restructuring.
At the NBAA Convention last month, HBC chairman Bill Boisture explained recent events to that point and outlined the Wichita OEM’s future, which he confirmed will not include its business jet line.
Cabin humidification specialist CTT Systems is hoping to get its Cair equipment adopted for use in more business aircraft. To date, the Swedish company has mainly had success in getting Cair installed on Boeing Business Jet and Airbus Corporate Jet bizliners, but it has recently been approached by airframers, including Bombardier, about possible applications on more mainstream models.
Statistics released last month by the General Aviation Manufacturers Association (GAMA) reveal that business aircraft deliveries did not show much evidence of resurgence during the third quarter. While the industry overall recorded a 4.2-percent increase, the business jet landscape remained virtually flat, with the OEMs reporting deliveries of 428 private jets through the first nine months of the year, just one more than they did during the same period last year. In the third quarter, airframers handed over 134 jets, a decrease from the 171 delivered in the second quarter of the year.
The slow and destructive passage of Hurricane Sandy before the 65th NBAA Convention and Tradeshow opened in Orlando on October 30 generated great concern about the safety of travelers and worry about what they would find when they returned home to the Northeast. Although New York-area airports opened in time for return flights, many worried about widespread power outages, severe water damage, destroyed infrastructure and ongoing challenges finding out anything about local facilities because so much of the cellphone network was compromised.
While overall inventories of pre-owned business aircraft continue to contract, and transaction activity continues to increase year-over-year, the rate of improvement slowed in the third quarter, according to business aviation data company Amstat. The Tinton Falls, N.J.-based firm said the long-hoped-for “broad-based business aircraft resale market recovery still remains elusive.”
Airshow China last month provided yet more evidence of how eager the business aviation industry is to tap the enormous potential growth in China. Every major business aircraft maker made the trip to Zhuhai in the prosperous southern province of Guangdong, and their products formed one of the more prominent clusters among the 80 or so aircraft on display.