Goldman Sachs, the Wall Street investment firm, has a thing for business aviation, according to Sanjeev Mehra, the firm’s managing director. Raytheon Aircraft, purchased on March 26 this year, was its most recent acquisition. Investment funds controlled by the Goldman Sachs affiliate Goldman Sachs Capital Partners and Canada’s Onex Partners bought the Wichita OEM for $3.3 billion in debt and equity and renamed it Hawker Beechcraft.
Although business aircraft manufacturers talk at length about the effort they’ll make to satisfy a customer, ask a chief pilot or director of maintenance about the service they are receiving–and the service they feel they should be getting–and the answer is likely to be emphatic and passionate.
Of all the sub-segments of the general aviation market, the turboprop field is the only one not experiencing a marked increase of new development. At airshow after airshow, very light jets, personal single-engine jets, more powerful piston singles and light sport airplanes have garnered the greatest amount of attention.
Hawker Beechcraft dominated the business aviation news headlines this week at Asian Aerospace in Hong Kong, announcing 10 new jet sales and the strengthening of its sales network for the promising Asian market. Macau-based charter/management operator Jet Asia ordered four midsize Hawker 900XPs, along with four shorter-range Hawker 750s.
Although the second quarter of this year raised the order backlog at Hawker Beechcraft to a company record $5.1 billion, roughly double what it was at the same time last year, the realities of purchasing Raytheon’s aircraft division led to an operating loss of $36.6 million. Sales for the second quarter were down 10 percent from last year to $701 million, despite the fact the manufacturer delivered two more aircraft in the same period.
Each year the Bush Administration tries to slash funding for the Essential Air Service (EAS) program, and each year it fails, thanks in no small part to advocates for small community air service such as the Regional Airline Association.
Beech 1900D, Marlborough, New Zealand, June 18, 2007 – The New Zealand-registered Beech 1900 landed gear up at Woodbourne Air Station after the landing gear system failed. On the ILS approach to Wellington International, the crew did not get a gear-in-transit indicator light after lowering the gear and did not hear the hydraulic pump operating.
Following the sale of Landmark Aviation to Dubai Aerospace Enterprise on August 1, the company’s entire Aviation Airport Services Division is officially for sale.
HAWKER BEECHCRAFT SERVICES APPOINTED BLACKHAWK DEALER
Hawker Beechcraft has appointed Jet Aviation in Dusseldorf, Germany an authorized service center for Hawker 800 series.