The $1.79 billion deal for Superior Aviation Beijing to acquire bankrupt Hawker Beechcraft has been scrapped, the Wichita-based aircraft manufacturer announced this morning. As a result, Hawker Beechcraft now plans to emerge from bankruptcy protection in the spring as a standalone company focusing on its turboprop, piston, special-mission and trainer/attack aircraft, as well as parts, maintenance, repairs and refurbishment businesses. The company’s Hawker business jet lines will likely be sold–in whole or individually–or shut down, it added.
Third-quarter earnings at Cessna Aircraft and Bell Helicopter parent company Textron rose 6.6 percent year-over-year, to $3 billion, though its manufacturing segment profits slid by $6 million to $254 million. Half of that decrease was attributable to Cessna, which showed a pre-tax profit of $30 million in the quarter versus $33 million last year. But pre-tax quarterly profits at Bell soared by $22 million, to $165 million.
In releasing its financial results for the third quarter today, Dassault Aviation said it received orders for 37 Falcons during the first nine months of this year. Meanwhile, it delivered 43 business jets in the same period. This compares favorably to last year, with orders for 30 Falcons and 35 deliveries during the first nine months. The French manufacturer said it expects to meet its goal of approximately 65 Falcon deliveries this year.
Virtually every industry and profession in America enjoys the backing of an association and its lobbyists. And it doesn’t matter whether those lobbyists represent funeral directors, textile manufacturers, dairy farmers or dental consultants.
Embraer delivered 40 aircraft in the third quarter, including 27 airliners and 13 business jets (11 light and two large jets), the Brazilian aircraft manufacturer announced yesterday. The company has shipped 129 aircraft in the first nine months–83 E-jet airliners and 46 business jets (40 light and six large jets)–which equates to 10 more airliners, but three fewer business jets, than it delivered in the same period last year.
Embraer displayed the midsize Legacy 500 prototype for the first time with a painted finish on Friday to a group of aviation journalists visiting the manufacturer’s headquarters in São José dos Campos, Brazil. Legacy 500 S/N 001, the first of four planned flight-test aircraft, is currently being prepared to fly before year-end.
At the NBAA Convention later this month in Orlando, Fla., “Manufacturers will likely emphasize the potential for rising deliveries beyond 2012, pockets of demand strength and the products they are developing,” JPMorgan aerospace analysts wrote in the firm’s latest business jet monthly report, released yesterday. “However, with U.S. and European flight ops flat to down year-to-date, Chinese demand facing pressure and OEM backlogs yet to turn up decisively, optimism should be muted.”
Bombardier Flexjet is again offering its Flexjet 25 jet card program, which is operated by U.S. air carrier Jet Solutions, for the holiday season. The 25-hour jet card pairs private jet travel with no-extra-cost travel benefits from Executive Golfer, Abercrombie & Kent, Lake Austin Spa Resort, Korean Air and Qatar Airways. The jet cards start at $100,000 and provide access to Flexjet’s Learjet or Challenger fleets, with the cost of each flight deducted from the debit card balance.
Last month’s Airex show in Turkey (September 6 to 9) highlighted the country’s emergence as a hub of aviation growth on Europe’s boundary with the increasingly dynamic markets of Asia and the Middle East. Business aviation was a large facet of the event, which was staged on the general aviation apron of Istanbul’s Atatürk Airport, reflecting growth being engineered by both foreign and local companies.
For several years, you’ve been able to book charter flights on the Internet and now, as we’ve reported in Business Jet Traveler, there’s a retail store in London–The Jet Business–where you can actually walk in off the street and buy an airplane.
I think I can see where this trend is headed.