Piper Aircraft's new aircraft billings increased by 16% in the first half of the year, indicating a stabilizing general aviation market, driven by M-class airplane deliveries and a resurgence in Meridian sales.
This growth is attributed to bonus depreciation tax advantages and strong international sales in emerging markets, leading to an order backlog extending into the second quarter of 2012.
The company is making significant progress on its Altaire single-engine jet program, including bringing in production tooling, adding engineering staff, and planning a critical design review for the fourth quarter, with certification targeted for late 2014.
Piper has seen its employee count rise and improved its financial health by shifting to a build-to-order production philosophy, reducing the number of unsold aircraft.
In a sign that the general aviation market may be stabilizing, Piper Aircraft said new aircraft billings in the first half of the year rose 16 percent compared with the same period last year.
And the company says next year is shaping up to be even better.
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