General Dynamics said yesterday that its third-quarter earnings rose 25 percent thanks to demand for its Gulfstream business jets and healthy combat systems growth. The company’s aerospace segment, which includes Gulfstream, saw its earnings rise 37 percent, to $226 million, while sales climbed 21 percent, to $1.31 billion.
The current and projected soft economy and related depressed sales market for business jets has result-ed in a nearly one-year schedule extension of the Gulfstream 150, according to Gulfstream Aerospace.
Gulfstream Aerospace acquired the maintenance operation of BBA Aviation’s facility at London Luton Airport, making the facility the first Gulfstream-owned service center outside the U.S. The facility will continue to provide maintenance for Citations, Falcons and Hawkers, as well as all Gulfstreams.
Signature Flight Support expects to open its new 74,000-sq-ft hangar at London Luton Airport this month. Alongside the new facility is a 10,000-sq-ft office unit, and about half of this space has been rented to based corporate operators to date.
A further 5,000 sq ft of accommodation is also being built for completion by the end of July, and this will be available for stores or more offices.
As a result of its expanded product line of new and derivative aircraft–seven models in all–Gulfstream Aerospace recently reorganized its sales team.
Shipments of new business jets in the first quarter plummeted nearly 43 percent compared with last year’s first quarter, according to figures compiled by the General Aviation Manufacturers Association.
If anyone went to the General Aviation Manufacturers Association’s annual review and outlook hoping to see light at the end of the economic tunnel, they had to be disappointed. “This may not be the deepest trough in modern times,” said GAMA chairman Bill Boisture, “but it is certainly one of the longest.”
Each year, representatives of the FAA’s Aviation Maintenance Technician (AMT) program issue five levels of training certificates– bronze, silver, gold, ruby and diamond–to eligible technicians and employers. The employer Diamond Certificate is awarded when 25 percent of each site’s eligible employees receive a minimum of six hours of training during the course of a year.
A federal judge approved a deal between the Equal Employment Opportunity Commission and Gulfstream Aerospace in which the airframe manufacturer agreed to pay $2.1 million to more than 60 former employees–none of them pilots–to settle an age-discrimination suit.
As the curtains fell on the third edition of EBACE (the European Business Aviation Convention and Exhibition) in Geneva last month, the organizers could feel confident that the strong support for the event in this most difficult of years and most challenging of futures for aviation bodes well for its stature as a significant fixture in the world aerospace calendar.