Cirrus Bounces Back from 2010 Market Slump

Bethany Whitfield

Wednesday, May 18, 2011 at 07:34 PM ET

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A Cirrus SR22T. [Courtesy of Cirrus Aircraft]

Key Takeaways:

Cirrus experienced a rebound in aircraft shipments and billings during the first quarter of 2011, improving upon the same period in 2010.
The company's full ownership was transferred to the Chinese firm China Aviation Industry General Aircraft Company (CAIGA), following the failure of a tentative U.S. counterbid.
Cirrus increased its piston engine market share to 33% in Q1 2011, up from 30% in the previous year.
Despite the Q1 improvements, Cirrus shipments remain significantly below their 2006 peak, reflecting the lingering effects of the economic downturn.

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After a difficult 2010, Cirrus shipments bounced back during the first quarter of 2011, according to recent data released by the General Aviation Manufacturers Association.

A GAMA report showed Cirrus made 61 aircraft shipments in the first quarter, up from the 53 the Duluth, Minnesota-based manufacturer reported during the same period last year. The company’s billings also improved, rising from $29.7 million last year to $37 million this year.