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.
For the uninitiated, China can be a scary place to consider establishing a manufacturing operation. Tales abound of product designs being copied, many well documented and ranging from high-end golf clubs to industrial fittings, movies, books and even electronic components.
The U.S. Senate approved legislation yesterday to reauthorize the Export-Import Bank, bringing to conclusion a dispute in Congress driven by the airline industry’s opposition to export financing of Boeing long-range aircraft purchased by competing foreign carriers. The Export-Import Act of 2012 (H.R.2072) was approved a week earlier by the House and is expected to be signed by President Obama. The bill extends the bank’s charter through 2014 and increases its lending authority by $40 billion, to $140 billion.
Scott Ernest, the president and CEO of Cessna Aircraft. spoke with AIN News Editor David A. Lombardo, about the launch of the new Citation Longitude in the face of a tough market.
Austrian charter company GlobeAir is to take delivery of its eleventh Cessna Citation Mustang today, making it the largest operator of the type in the world. The company has 29 percent of the entry-level jet segment market share in Europe, and is aiming to push that figure up to 55 percent over the next two years.
Pratt & Whitney Canada claims to have improved turnaround times for customers by 20 percent through a number of advances and innovations. For example, its online diagnostic tool enables customers using its PW300 turbofan, PW100 turboprop and PW200 turboshaft engine families to diagnose their engine issues quickly.
Here at the EBACE show, the engine maker is introducing a new product called flight acquisition storage transmission (FAST). This automatically acquires, stores and transmits engine and aircraft flight data for analysis for planned maintenance.
Six months after launching its midsize Citation Latitude, Cessna Aircraft today at EBACE announced a $25.9 million stretched version–the Longitude–that will fly 4,000 nm at Mach 0.82. First flight is scheduled for 2016, with entry into service in 2017. “The aircraft is long on range, high on value and low on price,” Cessna president and CEO Scott Ernest said at the unveiling.
Cessna remains optimistic about Europe. “In spite of all the negative news you get in the press about economic activity in Europe, our order inquiry activity from [that region] has remained very positive,” said Brad Thress, Cessna senior vice president for business jets.
Six months after launching its midsize Citation Latitude, Cessna (Stand 7081) announced at EBACE this morning that it will offer a $25.9 million (2012 dollars) stretched version–the “Longitude–that can fly 4,000 nm at Mach 0.82.
Europe remains solid for business aviation and will remain a high priority for Cessna, according to the company’s president and CEO Scott Ernest. This vote of confidence in an apparently ailing market will likely be endorsed here at EBACE today with Cessna expected to make an announcement “about a new product.”