It is with some justification that Theodore “Teddy” Forstmann, the founder of Forstmann Little & Company, is described in aviation circles as “the man who saved Gulfstream.”
Teddy Forstmann, the man who was credited with turning around Gulfstream Aerospace in the 1990s, died Sunday, reportedly from brain cancer. His investment firm, Forstmann Little, acquired Gulfstream in 1990 for $800 million.
CitationAir founder, president and CEO Steven O’Neill has stepped down from his position but will remain with the company in an advisory capacity. He is succeeded by CitationAir executive v-p and COO Bill Schultz.
General Dynamics yesterday appointed Leda M. L. Chong as Asia-Pacific region senior vice president of the company’s aerospace group.
General Dynamics reported third-quarter earnings yesterday, and chairman and CEO Jay Johnson said the company’s aerospace group–Gulfstream Aerospace and Jet Aviation–saw “continued emerging market customer interest and improved aircraft service volume” in the quarter.
Gulfstream parent company General Dynamics announced last month that Larry Flynn will succeed Joe Lombardo as president of the Savannah-based airframer, starting September 1.
Gulfstream parent company General Dynamics announced today that Larry Flynn will succeed Joe Lombardo as president of the Savannah-based airframer starting September 1. Lombardo served not only as president of the jet maker since 2007 but also as executive vice president of General Dynamics’s aerospace group, and he will retain the latter title. “This will enable Mr.
“Second-quarter Gulfstream orders were the largest we’ve seen since the economic downturn began,” Jay Johnson, chairman of Gulfstream Aerospace parent company General Dynamics, said yesterday during an investor conference call. In the three-month period, Gulfstream’s backlog climbed $428 million to $18 billion, representing an 18- to 24-month supply for in-production large-cabin jets.
Jet Aviation announced last month that Peter Edwards has resigned as president of the company. The General Dynamics subsidiary said Edwards will assist in the transition to new leadership before his departure at the end of August.
Gulfstream Aerospace resumed flying the G650 on Saturday, nearly two months after suspending the flight-test program following an April 2 fatal accident involving G650 S/N 6002. Senior experimental test pilots Jake Howard and Tom Horne flew S/N 6001 on a one hour, 39 minute flight that originated and terminated at Savannah (Ga.) International Airport.