Despite facing the gravest economic slowdown in decades, officials for Gulfstream Aerospace (Chalet No. 24) say they remain optimistic about the long-term health of business aviation and point to the Middle East market as an enduring bright spot.
Gulfstream Aerospace parent General Dynamics yesterday finalized its purchase of Zurich, Switzerland-based Jet Aviation from Permira Funds private equity group for approximately $2.18 billion, significantly expanding General Dynamics’s aftermarket service footprint around the world. The deal was originally announced on August 19, but had to be approved by antitrust authorities before closing.
Gulfstream Aerospace parent General Dynamics today finalized its purchase of Zurich, Switzerland-based Jet Aviation for approximately $2.18 billion, significantly expanding the General Dynamics aftermarket service footprint around the world. The move not only increases General Dynamics’s maintenance and completions/refurb capability worldwide but also adds 15 FBOs to its portfolio, including five in the U.S. At Gulfstream’s Savannah, Ga.
The second phase of a new Savannah Service Center for Gulfstream Aerospace is under way and slated to enter service by next year’s third quarter. According to Gulfstream, it will be the largest maintenance facility in the world built specifically for business jets.
Despite what parent company General Dynamics chairman and CEO Nicholas Chabraja termed a “tumultuous period in the markets and dislocation in the financial services sector,” Gulfstream Aerospace “had a terrific [third] quarter.” Aircraft sales in the quarter climbed 4.3 percent as a result of orders for large-cabin Gulfstreams and the new larger-cabin G650, though Chabraja noted there was a “soft spot” in sales of the midsize G150 and, to some
Gulfstream Aerospace at the NBAA Convention last month took the wraps off the G250, a successor to the G200 (née Galaxy), marking the second new aircraft launch this year for the Savannah, Ga.-based manufacturer. The $24 million derivative is expected to address several shortcomings of Gulfstream’s super-midsize business jet offering, including runway performance, range and the lack of a hot-wing de-icing system.
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
Morro Vermelho Taxi Aereo (MVTA) in São Paulo, Brazil, has been added to Gulfstream Aerospace’s international product-support network. The Brazil-based company will distribute aircraft parts to Gulfstream operators located in or traveling through South America.
Gulfstream Aerospace (Booth No. 275) yesterday morning unveiled the G250 to succeed the G200, which entered service in 2000 as the Galaxy super-midsize business jet. This marks the second new aircraft launch this year for the Savannah, Ga. manufacturer following the official go-ahead for the large-cabin G650 in March. The company began accepting orders here at NBAA for the roughly $24 million (complete) airplane.
Gulfstream Aerospace yesterday said its midsize G150 received type certificate validation from Transport Canada, allowing operators of the twinjet to register their aircraft in Canada.