Piper Aircraft reported a 16% rise in new aircraft billings in the first half of the year, indicating stabilization and expected growth in the general aviation market, particularly with a resurgence in M-class airplane sales.
The company's improved performance is credited to bonus depreciation tax advantages boosting dealer activity and strong international sales, especially in emerging markets like Brazil and South Africa.
Piper is making significant progress on its Altaire single-engine jet program with a target certification in late 2014, and has enhanced its financial health by adopting a build-to-order manufacturing philosophy.
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.
CREATE A FREE ACCOUNT
Sign up to keep reading
Create a free account to continue. Already a member? Sign in below.
