Despite what General Dynamics chairman and CEO Nicholas Chabraja termed a “tumultuous period in the markets and dislocation in the financial services sector,” its Gulfstream Aerospace division “had a terrific quarter.” Thanks in part to higher sales and deliveries of business jets at Gulfstream, General Dynamics yesterday reported third-quarter profits of $634 million, an increase from the $544 million posted in the same period last year, on r
Gulfstream Aerospace, in late August, opened the second phase of its new R&D center in Savannah, Ga., dedicating the facility to the efforts of its research and development employees over the 50 years that took the company to its half century this year. Federal, state and local dignitaries joined Gulfstream parent company General Dynamics chairman and CEO Nicholas Chabraja and Gulfstream top management to participate in the opening.
Gulfstream has received some highly publicized orders for the G650, including a letter of intent (LOI) from Abu Dhabi-based Prestige Jet to purchase five aircraft. Gulfstream has not stated publicly how many orders it holds for the airplane, but the most recent earnings report from its parent company, General Dynamics, provides some data from which inferences can be drawn.
Gulfstream Aerospace parent company General Dynamics has agreed to pay approximately $2.25 billion to buy Jet Aviation from the Permira Funds private-equity group. Subject to antitrust legal approval, General Dynamics’ acquisition of all Jet Aviation stock should be complete by year-end after Permira subsidiary Dreamliner Lux signed a SwF2.45 billion purchase agreement on August 19.
General Dynamics, parent company of Gulfstream Aerospace, today agreed to pay approximately $2.25 billion to buy Jet Aviation from the Permira Funds private equity group. Subject to antitrust legal approval, General Dynamics’ acquisition of all Jet Aviation stock should be complete by year-end.
Gulfstream deliveries are down. In its report for the first half, parent company General Dynamics revealed that Gulfstream Aerospace second-quarter green deliveries were down from 24 aircraft last year to 19 aircraft this year, and that deliveries had dropped from 51 airplanes in the first half of last year to 34 airplanes in the first six months of this year. According to the General Aviation Manufacturers Association, the Savannah, Ga.
Three people were injured–one critically–during an explosion on July 2 at the Gulfstream Aerospace plant in Savannah, Ga. According to the company, two contractors were performing leak tests on oxygen bottles inside a building when a flash fire occurred. A Gulfstream employee who tried to help the two men also suffered burns.
Gulfstream Aerospace parent General Dynamics late last month reported a 25-percent increase in profits during the second quarter, thanks in large part to climbing sales of Gulfstream business jets. The company posted a second-quarter profit of $641 million, up from $513 million in the same period a year ago, on sales of $7.3 billion.
Gulfstream Aerospace parent General Dynamics yesterday reported a 25-percent increase in profits during the second quarter, thanks in large part to climbing sales of Gulfstream business jets. The company posted a second-quarter profit of $641 million, up from $513 million in the same period a year ago, on sales of $7.3 billion.
As the British subsidiary of a leading American defense contractor majoring in sensitive communications and intelligence technologies, General Dynamics UK (Chalet A34) treads an interesting but complex path. On the one hand, the company is a portal for the import and adaptation of U.S. systems that help the British armed forces achieve connectivity and interoperability.