Cessna Aircraft and Bell Helicopter parent company Textron reported third-quarter revenues of $2.8 billion yesterday, up 13.5 percent from last year, and profits of $236 million (up $124 million). At Cessna, third-quarter revenues climbed by $236 million to $771 million, while profits increased by $64 million, going from a $31 million loss last year to a positive $33 million this year.
Bell Helicopter announced yesterday at the NBAA Convention that it received FAA certification for its new $2.865 million, single-engine 407GX, which is equipped with
A Bell Helicopter spokesman denies that the company did anything improper in accepting approximately $300 million in U.S. Defense Department independent research and development (IRAD) funds to develop the Model 609 civil tiltrotor program. Bell announced in June that it is in the process of selling the 609 outright to co-development partner AgustaWestland.
AgustaWestland’s new CEO, Bruno Spagnolini, ensured that his company made a big splash at this year’s Paris Air Show, announcing a new helicopter, new joint ventures, plans to increase product support and service and takeover of the languishing civil tiltrotor program from development partner Bell Helicopter.
A Bell Helicopter spokesman denies that the company did anything improper in accepting approximately $300 million in U.S. Defense Department independent research and development (IRAD) funds to develop the Model 609 civil tiltrotor program. Bell announced last month that it is in the process of selling the 609 outright to co-development partner AgustaWestland.
While Cessna Aircraft’s new CEO, Scott Ernest, may not be ready to sit down for wide-ranging interviews with outside media yet, he did indicate what his priorities are during a brief Q&A he gave for its internal newsletter, the Cessnan, just two days after he joined the company on May 31.
AgustaWestland is purchasing full ownership of the BA609 civil tiltrotor program from Bell Helicopter. AW’s new CEO, Bruno Spagnolini, and Bell CEO John Garrison announced the deal at the Paris Air Show on June 21. Under the proposed agreement, subject to regulatory approval, Bell will continue to provide engineering, program management services, and key component manufacture on the 609. Financial terms of the deal were not disclosed.
Piper Aircraft named 30-year aerospace veteran Michael Dow as chief of production for the PiperJet Altaire, the company’s in-development single-engine business jet. Dow was most recently group manager of manufacturing, engineering and tooling at Aurora Flight Sciences, and previously worked at Bell Helicopter for 11 years.
Textron sister companies Bell Helicopter and Cessna Aircraft have broken ground on a new facility dedicated to customers in the Asia-Pacific region.
AgustaWestland is buying out Bell’s stake in the BA609 civil tiltrotor program from Bell Helicopters. Financial terms of the deal, announced by AgustaWestland’s new CEO Bruno Spagnolini and Bell CEO John Garrison here at the Paris Air Show yesterday, were not disclosed.