The business aviation market’s shift towards larger aircraft continues and the impact on the industry is growing, according to Teal Group’s latest annual business jet overview.
Gulfstream Aerospace continues to build on its momentum of last year with deliveries of 39 completed aircraft during the first quarter, a 34.5-percent increase on Q1 2013. This is on the back of a total of 144 deliveries last year, a 53.2-percent rise from the company’s performance for 2012.
FAA certification of the new Cessna Citation X, recently redesignated as the X+, is apparently just around the corner. Flight testing of the super-midsize jet concluded in late April, Scott Donnelly, the chairman and CEO of Cessna parent Textron, noted last week during an investor conference call. “At this point it’s now just into the paperwork process,” he commented.
China, as Asia’s largest prospective market for business aviation, always seemed an obvious choice as the location for the Asian Business Aviation Conference & Exhibition (ABACE). But with demand for business aviation now bubbling in other parts of Asia, and the industry having to show patience in waiting for China to fulfill its potential, some have questioned whether organizer NBAA might consider freshening up the event in some other venue.
General Dynamics’s aerospace division, which includes Gulfstream Aerospace and Jet Aviation, saw first-quarter revenues climb 19.5 percent year-over-year, to $2.125 billion, while profits soared 30.3 percent, to $404 million, from the same period last year.
Minsheng Financial Leasing’s (MSFL) order for 60 Gulfstream jets (40 firm, 20 options) announced last week at ABACE in Shanghai is in addition to, not further confirmation of, a $2.6 billion order for 50 Gulfstreams under an MoU signed between the two companies in July 2011. Thus, Minsheng now has up to 110 Gulfstreams on order–a mix of G280s, G450s, G550s and G650s–that AIN estimates are worth approximately $5.6 billion, including options.
Representatives from Japan’s Nagoya Airport have traveled to ABACE (Booth H124) to discuss the airport’s convenient location within the country, and its suitability for business aviation travelers in the region.
Switzerland-based Jet Aviation Management (Booth P326) announced here at ABACE 2014 in Shanghai that it is adding two Gulfstream G450s and a new Gulfstream G550 to its managed fleet in Asia, bringing to 30 the number of aircraft it operates in the region.
The G550 and one of the G450s will be based in Hong Kong and maintained by the company’s Hong Kong maintenance facility, a Gulfstream Authorized Warranty Service Center for G450/G550/G650 aircraft. Delivery of the aircraft is expected by the end of next month.
Minsheng Financial Leasing (MSFL), Asia’s largest business jet leasing firm, announced nearly $3 billion in orders with Gulfstream and Bombardier today at ABACE 2014 in Shanghai. It placed the orders from both OEMs in the fourth quarter.
Minsheng Financial Leasing Co. (MSFL), Asia’s largest business jet leasing firm, is climbing steeply to increase the size of it inventory even more. On perhaps one of the clearest days in ABACE memory, Minsheng confirmed yesterday that it had placed orders with both Gulfstream and Bombardier in the fourth quarter of last year.