Urbana, Illinois-based Frasca International has expanded its market share in China with contracts totaling eight flight simulators this year and has also developed its first level-D full-motion simulator.
When President Obama criticized tax breaks for owners of corporate jets during the first debate with contender Mitt Romney on October 3, the reaction from the business aviation community was swift. Obama was referring to the allowable accelerated depreciation for capital goods, which ironically is part of a bill that he signed in 2010, HR 4853, the Tax Relief, Unemployment Insurance and Job Creation Act.
Before digging into the details of each of the light jet markets, it’s worth noting some global factors affecting the market. In 2012, the big story in the light jet market was Europe and the devaluing euro. As the light jet market typically trades in U.S. dollars, with the euro dropping nearly 20 percent in value compared to last year, European sellers saw an opportunity to take advantage of the strong dollar and liquidate at relatively lower dollar values for their assets, yielding a higher amount of euros.
The 65th Annual NBAA Meeting and Convention in Orlando, Fla., is taking place as the U.S. presidential election looms and with the state of the global economy very much on the minds of people worldwide. AIN recently took the opportunity to ask the leaders of several business aircraft manufacturers for their thoughts on the state of the economy and their forecasts for the business aviation industry.
Cessna Aircraft has signed agreements renewing Jet Aviation’s Dusseldorf, Germany, and Zurich, Switzerland, operations as Citation authorized service facilities. The extension of its relationship with Jet Aviation is the latest development in Cessna’s drive to expand its customer support network in Europe. The company recently launched new Cessna-operated Citation service centers in Doncaster, UK, and Valencia, Spain, to complement existing Citation-operated service centers in Paris, and Prague, Czech Republic.
Retired Cessna Aircraft chairman, president and CEO Jack Pelton was elected chairman of the Experimental Aircraft Association (EAA) yesterday after the association’s board of directors accepted the resignation of president and CEO Rod Hightower. In his role as EAA chairman, Pelton will guide the organization through the leadership transition.
Hightower joined EAA in 2010. According to EAA, he is leaving to spend more time with his family in St. Louis, since they didn’t make the move to Oshkosh as originally planned.
Third-quarter earnings at Cessna Aircraft and Bell Helicopter parent company Textron rose 6.6 percent year-over-year, to $3 billion, though its manufacturing segment profits slid by $6 million to $254 million. Half of that decrease was attributable to Cessna, which showed a pre-tax profit of $30 million in the quarter versus $33 million last year. But pre-tax quarterly profits at Bell soared by $22 million, to $165 million.
Blackhawk Modifications is in the final stages of STC flight testing for a Cessna 208 Caravan XP42A upgrade package. It includes a factory-new Pratt & Whitney Canada PT6A-42A rated at 850 shp continuous, a wide-chord, 100-inch Hartzell four-blade propeller, composite cowling and high-efficiency inlet duct, 40-percent-larger oil cooler, engine hose kit, Blackhawk Hawkeye DigiLog engine gauges and Frakes exhaust stacks.
In an effort to make sealed lead acid (SLA) battery technology more affordable for Cessna Citation operators, Duncan Aviation has developed and is offering parts manufacturer approved (PMA) battery replacement tie-down bolts at a significant discount with the purchase of a new Securaplane SLA battery.
These tie-down bolts are an STC requirement for installation of a Securaplane SLA battery in Citation 560s. Until now, Citation 560 operators wanting to install Securaplane batteries had to purchase expensive tie-down bolts directly from the OEM.
NBAA president and CEO Ed Bolen, JSSI chairman Lou Seno and former Cessna chief Jack Pelton separately weighed in on President Obama’s remarks about “corporate jets” during the televised presidential debate last week. “Why wouldn’t we eliminate tax breaks for corporate jets?” Obama asked. “My attitude is if you got a corporate jet, you can probably afford to pay full freight, not get a special break for it.”