Cirrus co-founder Alan Klapmeier has suspended his efforts to assemble a group of investors to take control of the Cirrus Vision single-engine jet program. In an unrelated matter, Klapmeier’s employment agreement to be Chairman of the Board of Cirrus is set to expire in mid-August. Alan will continue as a member of the board and […]
Richard Santulli, the Wall Street mathematician who left Goldman Sachs to form NetJets in 1986, stepped down Tuesday as Chairman and CEO. Santulli is credited with inventing the fractional aircraft ownership business model. Fueled by the Dotcom boom of the early 1990s, the NetJets program soared to huge success in that decade, and the company […]
Total general aviation aircraft shipments for the first half of the year were off by 46% compared with last year. The recent report from the General Aviation Manufacturers Association (GAMA) also showed billings down by almost 23%, an indication that the largest drops in deliveries were in the lower-priced segments. Indeed, piston aircraft shipments fell […]
When US Airways Flight 1549 splashed down on the Hudson River in January, Captain Chesley Sullenberger and Copilot Jeffrey Skiles became instant celebrities. They attended President Obama’s inauguration, made the rounds of television talk shows, and continue to be a huge draw as motivational speakers. But their best audience was probably the overflow crowds who […]
Eclipse Aerospace, headed by Eclipse 500 order holder Mason Holland and Eclipse 500 operator Mike Press, signed an asset purchase agreement July 31. Unless new bidders emerge or other complications arise, the $40 million deal to purchase the assets of the defunct manufacturer could be completed in a few weeks. Immediate goals for Eclipse Aerospace […]
Textron Chairman and CEO Lewis Campbell said in a recent report that Bell Helicopter “delivered a strong performance,” with a modest $4 million increase in profits. This was despite a decrease in revenues of $28 million. The net gain was attributed to “improved performance.” The Textron CEO is also optimistic that the recent certification of […]
As more “progress payments” come due, jet manufacturers face challenges as customers might have difficulty raising the cash. Progress payments are scheduled payments toward the sales price, agreed to under a sales contract, and made at fixed dates as the delivery date approaches. According to business aviation analyst Brian Foley, a new, stricter credit culture […]
According to a report from parent company Textron, Cessna delivered 84 Citations in the second quarter of this year, compared with 117 for the same time period last year. Revenues also decreased by $630 million, a shortfall of some 42%. Profits were down also, to $48 million (from $214 million) due to low sales volume […]
At a Wednesday press conference Jeppesen announced that it was providing Aspen Avionics with a new kind of data set that provides the Aspen-equipped airplane owner with a way to update multiple data sets at the same time. In one fell swoop, the user can install NavData, obstacles, terrain and cultural data on the Aspen […]
Geo-referenced approach plates and a new, larger screen are the big advances for Bendix-King’s new AV8OR Ace portable navigator. Building on the success of the original AV8OR, the Ace incorporates all its features, including available weather and traffic, but with an expanded seven-inch version of the touch-screen display. That makes it easier to read the […]
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