Jay Johnson, chairman and CEO of Gulfstream parent company General Dynamics, will retire at the end of the year. He will be succeeded by Phebe Novakovic, who was recently named the company’s president and COO.
Fractional-share provider NetJets has ordered up to 425 Bombardier and Cessna jets worth as much as $9.6 billion, with deliveries to begin in 2015. The purchase is the largest general aviation aircraft order in history and includes a firm order for 75 Bombardier Challenger 300s (plus options on another 125), a firm order for 25 Challenger 605s (plus options on 50 more) and and a firm order for 25 Cessna Citation Latitudes (plus options on an additional 125).
Pratt & Whitney Canada has signed a 15-year on-condition fleet maintenance program (FMP) with NetJets for the PW306D turbofans that will power the Cessna Citation Latitudes that the fractional ownership operator will begin flying in 2016. With the on-condition FMP, there are no hard-time intervals for hot-section inspections or overhauls, offering what P&WC describes as new levels of flexibility to the operator. Instead, P&WC evaluates each engine enrolled in the FMP and makes maintenance decisions based on how the engine is performing.
NetJets signed a 15-year OnPoint solution agreement with GE Aviation for the maintenance, repair and overhaul of its upcoming CF34-powered Bombardier Challenger 605 fleet, which was part of the fractional provider’s $9.6 billion aircraft order announced last week. NetJets placed a firm order for 25 Challenger 605s with options for up to 50 more, in addition to orders for other business jets.
Like most professionals of advancing years, I get fairly inundated with offers of newsletters from financial advisors and stock pickers. One of them is Stephen Leeb’s The Cash Cow.
Hong Kong-based Metrojet has named Steve Hughes as director of maintenance and engineering. He will oversee all aspects of Metrojet’s maintenance, including CAMO DME and Part 145 repair station accountable manager responsibilities. Hughes began his 29-year aviation maintenance career in the UK Royal Air Force Tornado squadrons, followed by experience in a variety of fields within business aviation including maintenance manager with Jet Aviation Saudi Arabia. He joins Metrojet from NetJets Europe, where he has been director of maintenance and engineering since 2002.
NetJets announced yesterday that it placed the largest general aviation aircraft order in history–for up to 425 Bombardier and Cessna jets worth as much as $9.6 billion. The deal includes a firm order for 75 Bombardier “Challenger 300 series” twinjets, and options on 125 more, with deliveries beginning in 2014; a firm order for 25 “Challenger 605 series” jets, and options on 50 more, with deliveries beginning in 2015; and a firm order for 25 Cessna Citation Latitudes, and options on another 125, with deliveries starting in 2016.
Last week, JPMorgan economists lowered their global GDP growth forecast for the second half of this year by 0.5 percentage points, to 2.1 percent. “If it persists,” JPMorgan Equity Research said in its just-issued business jet monthly report, “the disappointing economic data should pressure new bizjet demand, further postponing a recovery in a market in which 2011 deliveries were still about 40 percent below the 2008 peak.”
EU-funded project Accepta is co-funding the publishing of Egnos (European Geostationary Navigation Overlay System) landing procedures and/or installing its navigation equipment at 40 additional airports in 11 European countries by the end of 2013. The countries soon to get the system at their airports include Finland, France, Italy, UK, Austria and Spain. Egnos, Europe’s equivalent of Waas GPS, has many benefits including operational, economic (especially for business aviation), safety and environmental, said the company.