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Textron Aviation’s Q3 Propelled by ‘Very Strong Demand’

Demand was strong “across the board” for all of Textron Aviation’s aircraft models in the third quarter of 2021, Textron Inc. CEO Scott Donnelly told analysts on an earnings call Thursday. (Photo: AIN/Barry Ambrose)
Textron Aviation reported substantial increases in revenue, profit, deliveries, and backlog during the third quarter, propelled by a higher Cessna Citation and Beechcraft King Air volume of $338 million and aftermarket volume of $62 million. The results represented what Textron Inc. CEO Scott Donnelly said on an earnings call Thursday was “very strong demand” for business aircraft. “All of the dynamics that we look at in terms of the macro-level of the market are extremely favorable,” he said.

Revenue at the Wichita airframer increased $386 million from the year-ago quarter, to $1.2 billion, while profit of $98 million erased a $29 million loss during the same period last year. Deliveries for the quarter were sharply higher, rising to 49 jets compared with 25 in last year’s third quarter. Turboprop deliveries also jumped 67 percent to 35 in the same period. For the first nine months of the year, Textron Aviation’s revenue was $3.2 billion compared with $2.41 billion in 2020 while profit was $241 million, up from a $92 million loss a year ago.

Backlog at the end of the quarter was $3.5 billion, which Jeffries analyst Sheila Kahyaoglu noted on the call was at a level last seen in 2010. Donnelly said the higher backlog—which grew by $721 million from the second quarter of 2021—supports the company’s expectations for returning in 2022 to a production level last seen in 2019.

“And there’s probably room for a little bit beyond that,” Donnelly added. What’s more, that backlog represents nine to 12 months of production. “This […]

By |November 4th, 2021|Categories: Aircharter News|0 Comments

New Report Says It’s ‘Party Time’ for business jets

In a report to investors titled “Bizjet Party Time is Now,” analysts at investment bank Cowen see a number of factors improving fortunes for the next couple of years for the business jet industry and, in particular, for OEMs Gulfstream Aerospace and Textron Aviation. “The combo of Covid concerns, a robust stock market, and firming economy are creating the strongest business jet environment since 2007,” the report said.

Analysts noted the inventory of used business jets for sale reached an “all-time low” of 4.5 percent of the fleet while the 275,000 business jet departures in May—led by fractional and charter operators—were near the October 2019 peak of 278,000. With demand driven by ultra-high-net-worth individuals and an increase in first-time buyers, that should push them toward the purchase of new business jets. OEMs likely won’t see the fruits of that demand on deliveries because of production lead times until 2022 “and possibly 2023,” according to the report.

“Also, Fortune 500 customers are just starting to perk up, and foreign buyers have yet to return,” the report added. “Thus, the demand surge likely still has runway.”

As for the OEMs, Gulfstream “looks best positioned in bizjets” because preowned jet demand is highest in the large-cabin category. In addition, increasing G500 and G600 deliveries and the fourth-quarter 2022 entry-into-service of the G700 are pluses for Gulfstream, the report added.

At the lighter end of the market, Cowen analysts see a strong second-quarter 2021 book-to-bill for Textron Aviation and a “solid sales lift” in 2022, potentially extending into 2023. However, the report said, “demand durability is a bigger issue for smaller business jets, and has a less compelling product story than .”
Lastly, the report added that OEMs Embraer and Bombardier “face issues” […]

By |July 3rd, 2021|Categories: Aircharter News|0 Comments

Gulfstream G550 Production Reaches End of the Line

Gulfstream G550

Nearly two decades after it first entered service, Gulfstream G550 saw its final commercial delivery this week. The Savannah, Georgia airframer has produced more than 600 of the large-cabin twinjets since receiving its type and production certificates in August 2003. According to a company spokesperson, while some special-missions variants continue to undergo modifications, this week’s delivery ended G550 production.

First announced in 1999 as a derivative of the GV, the G550 (formerly GV-SP) was the launch platform for the company’s PlaneView flight deck and was also certified with an enhanced vision system as a standard safety feature, paving the way for its incorporation into future aircraft designs. With a range of 6,750 nm at Mach 0.80, the type earned more than 50 speed records. It served as the top of the Gulfstream line until the certification of the G650 in 2012. According to JetNet, 603 G550s remain in service worldwide.

“The Gulfstream G550 set a new standard for performance and reliability and continues to outperform and impress with its wide-ranging capabilities,” said company president Mark Burns. “Given our vast G550 fleet in service, we look to continuing to support all G550 customers around the world with Gulfstream Customer Support’s extensive network.”
Development of the Gulfstream G550
G550 cabin
The G550 (GV-SP) with improved engines received its FAA type certificate on August 14, 2003. In 2014, Gulfstream looked at a re-engine with the Rolls-Royce Pearl BR700 development announced in May 2018 for the new Global Express 5500 and 6500 variants but preferred the BR725-powered, 7,500 nmi G650. The 500th Gulfstream G550 aircraft was delivered in May 2015.

As it is replaced by the $54.5 million Gulfstream G600 with a lower 6,200 nmi range but with a better cabin and cockpit, faster long […]

By |July 3rd, 2021|Categories: Aircraft|0 Comments

Third Dassault Falcon 6X Joins Flight-test Fleet

Dassault’s third flight-test Falcon 6X took to the skies on June 24. The twinjet has a full interior and will be used to test in-flight entertainment and communications systems, as well as evaluate environmental features and temperature control and validate cabin acoustics systems. (Photo: Dassault Aviation)

The third flight-test Falcon 6X, registered as F-WAVE, took to the skies late last week, edging Dassault Aviation’s 5,500-nm, large-cabin twinjet one step closer to its planned certification next year. S/N 3, which has a full interior and will be used for cabin design validation, made its inaugural flight on June 24, attaining an altitude of FL400 and speeds up to Mach 0.85, the French aircraft manufacturer announced on Thursday.

This follows the first Falcon 6X that flew on March 10 and the second on April 30. To date, these two aircraft have accumulated more than 130 flight-test hours at a rate of two to three flights a week, with envelope expansion now nearly complete, according to Dassault.

“This latest flight is yet another sign of the smooth progress we have been making with the Falcon 6X test program,” said Dassault Aviation chairman and CEO Eric Trappier. “We have been consistently impressed with the flight performance and handling of the Falcon 6X and the reliability of aircraft systems.”

S/N 3 will be used to test in-flight entertainment and communications systems, as well as evaluate environmental features and temperature control and validate cabin acoustics systems, the company said. A fourth flight-test Falcon 6X, which will also have a full interior, is currently being outfitted at Dassault’s site in Mérignac, France. This aircraft will conduct a two-month global endurance flight campaign to ensure that all Falcon 6X systems are fully mature upon entry into service. […]

By |July 3rd, 2021|Categories: Aircraft|0 Comments

Bombardier Hands Over First Indonesia-based Global 7500

Bombardier Hands Over First Indonesia-based Global 7500
Bombardier’s Global 7500 has entered the Indonesian market with the first delivery of one of the company’s flagship business jets to an undisclosed customer based in Jakarta. The worldwide Global 7500 fleet now exceeds more than 50 aircraft, a milestone reached in March, about 2.5 years after the model entered service in late 2018.

Indonesia marks the latest Asia-Pacific region expansion for the Global 7500, an aircraft model that is also based in Japan, Australia, Taiwan, and Malaysia. Bombardier noted that its entire portfolio is generating strong interest in the region.

Calling the 7500 aircraft “ideally suited to customers in the Asia-Pacific region who are looking to connect far-flung city pairs,” Nilesh Pattanayak, Bombardier regional v-p of sales for Asia-Pacific, said, “The ultra-long-range Global 7500 aircraft opens up a world of possibilities for convenient and productive travel.”

With a 7,700-nm range, the Global 7500 can fly nonstop from Jakarta, Indonesia, to Seattle, from Singapore to San Francisco, from Tokyo to New York, and from Melbourne, Australia, to Los Angeles, Bombardier said.

As its presence expands in Asia-Pacific, Bombardier has been growing its customer-service footprint in the region with a new customer-service center expected to open in 2022 at Essendon Fields Airport in Melbourne, Australia, alongside the ongoing project at its Singapore service center, which will quadruple the operation’s space there.

Bombardier’s highly anticipated flagship Global 7500 entered into service December of 2018. The Global 7500 is the world’s largest purpose-built business jet. Its first flight took place on November 4, 2016. Flight testing was completed in August 2018, with over 2,400 hours logged by the five prototypes. In September of 2018, it received type certification from Transport Canada, followed by FAA type certification in […]

By |June 18th, 2021|Categories: Aircharter News|0 Comments

Argus: European Bizav Ops Rebound 156% in May

Argus May 2021 data showed that the midsize jet category marked the largest resurgence in Europe, up 227.8 percent year-over-year.
Business aviation activity showed a sharp rebound across all categories in May in Europe with an overall 156.7 percent increase from a year earlier, when traffic had slowed to a trickle as the pandemic took root, according to the latest Argus TraqPak report.

Argus May 2021 data showed that the midsize jet category marked the largest resurgence in Europe, up 227.8 percent year-over-year. Looking at super-midsize jets alone, that increase is even greater at 282.5 percent. Activity was up 197.7 percent for “base” midsize jets. As for the other categories, large-jet activity increased 213.7 percent, while light-jet operations experienced a 168.1 percent rebound.

Turboprops, meanwhile, marked an 83.8 percent increase year-over-year, almost mirroring the 83.7 percent increase they experienced in April. Single-engine turboprops drove this gain in May, up 135.2 percent with multi-engine turboprops posting a more modest 59.3 percent increase in the month—the only category to come in under triple-digit gains.

May business aviation activity in Europe came in 39 percent higher than April and marked increases across all categories. Light-jet activity led the monthly increase at 53 percent with large jets up 33.5 percent and midsize jets higher at 48.5 percent. Turboprop activity further posted a 24.3 percent increase.

Argus expects business aviation activity to be up year-over-year by 52 percent in June.

Source: AIN

By |June 18th, 2021|Categories: Aircharter News|0 Comments

Embraer Unveils Medevac Cabin for Phenom 300

Embraer’s Medevac Cabin for Phenom 300 features a convertible medevac cabin. (Photo: Embraer)

Part 135 operator GrandView Aviation will be Embraer’s launch customer for a convertible Medevac Cabin for Phenom 300 interior STC that the Brazilian airframer developed for its Phenom 300 light twinjet. “With the Phenom 300MED conversion, our aircraft can transition from a passenger cabin interior to Medevac Cabin for Phenom 300 in a matter of hours, allowing for maximum operational efficiency,” said GrandView COO Jessie Naor. “We already operate diverse missions, and the Phenom 300MED further adds to our ability to meet a wide variety of client needs.”

Medevac Cabin for Phenom 300
Aerolite provides the equipment for the Embraer Phenom 300MED’s cabin. (Photo: Embraer)

Aerolite will provide the equipment for the Phenom 300MED’s medevac interior. The installation will be performed at Embraer’s service center in Fort Lauderdale, Florida. “We are sure this will be the first of many conversions around the world,” said Marsha Woelber, Embraer Service & Support’s head of worldwide executive jets customer support and aftermarket sales.

Baltimore-based GrandView owns 10 Phenom 300s as well as Sikorsky S-76D and Bell 407GXi helicopters.

Medevac Cabin for Phenom 300 is available at for Air Ambulance services.

By |June 12th, 2021|Categories: Aircharter News|0 Comments

Covid-19 Gives Africa Bizav a Boost

The Fireblade fleet of Bombardier Challenger 350s and (left) a Bombardier Global 6500. (Photo: Fireblade Aviation)
Although business aviation has prospered in Africa over the past 12 months due to Covid-19’s destabilizing effects on its airlines, several challenges remain to successful operations.

Hamish Harding, chairman of Dubai-based broker, Action Aviation, sees big opportunities. “There are always things happening in Africa, and chances to do good transactions,” he said. “Covid lockdowns in different places … carry on causing issues. It’s a bit unpredictable, as to which countries will be open for business, but, absolutely, there’s demand in the usual locations for business jets in Africa at the moment.

“Angola, with the oil price higher, is still very strong. Even the likes of Kenya do have requirements.”

The focus of Dubai-based Empire Aviation Group (EAG) has remained on Nigeria. It has added a GIV-SP to its Lagos fleet, which currently consists of three airplanes. “We are in discussions for additional aircraft, and it remains a fairly active market for us,” said managing director Paras Dhamecha.

He was frank in saying EAG had been slow to explore other African opportunities. “t’s a question of where you best employ your resources,” he said. “In business aviation, resources generally end up being stretched thin, especially in areas where there’s not necessarily very high quality or experienced aviation talent easily available. At a time like this, when it’s difficult to move around, it’s not easy to find people to join the team very quickly.”

Krimson Aviation
The Krimson Aviation management team, left to right: Betelhem Shumu (MarCom Executive), Leul Mesfin (Flight Ops Team Leader), Gideon Girma (Commercial Manager), Dawit Lemma (CEO), Michael Mesfin (Koncierge and Services Manager), Helina Teshome (Managing Director). (Photo: Krimson)
Dawit Lemma, CEO, Krimson, Addis Ababa, […]

By |June 11th, 2021|Categories: Aircharter News|0 Comments

Jet Edge Secures $150M from KKR as it Unveils AdvantEdge

Jet Edge’s newly coined AdvantEdge charter and management program aims to provide predictable revenues and schedules. (Photo: Jet Edge)
A day after KKR announced its $4.5 billion acquisition of Atlantic Aviation, the investment firm is further extending its reach into the business aviation market with the provision of a $150 million credit facility for aircraft charter, management, and brokerage firm Jet Edge.

The facility will provide backing as Van Nuys, California-based Jet Edge formally rolls out its AdvantEdge charter management program that CEO Bill Papariella said will further enhance the company’s efforts to expand nationally and add predictability to the ownership experience. In addition, the credit facility will help Jet Edge roll out new digital technologies this year for its client base and strengthen its employment base, which now tops 700.

Papariella called the Jet Edge AdvantEdge program a “whole aircraft ownership solution that is a true alternative to both fractional ownership and the antiquated traditional aircraft management model.” The program, he said, will build predictability and the ability to forecast usage and revenue for owners.

Describing the program as a cross between whole ownership and fractional with scheduling closer to that of an Airbnb, Papariella told AIN the program essentially packages a number of services that Jet Edge has been building out in recent years and “truly takes our charter/management product nationwide.”

The company has been running a number of aspects of the charter and management program since 2018 and built on that with the acquisition of Jet Select announced in early 2020. “We’ve already seen the success over the three years and proved it. AdvantEdge, in more of an institutional way, builds the infrastructure around it.”

Heading into the pandemic, Jet Edge had 15 owners on board. Now that […]

By |June 11th, 2021|Categories: Aircharter News|0 Comments

Signature Aviation Now Under New Ownership

With the conclusion of its sale to a group of private investment firms, Signature Aviation is now under new ownership. A statement from the company noted it expects “there will be no immediate change to day-to-day operations and remain focused on delivering exceptional experiences to our valued customers and stakeholders.”
Without any fanfare, the $4.7 billion sale of Signature Aviation to a consortium of private equity firms was completed last week. The groups—Blackstone, Global Infrastructure Partners, and Cascade Investments—combined to establish a jointly-owned company and issued the successful bid, which was approved by Signature Aviation’s shareholders in late March. The purchase was officially sanctioned by a UK court on May 27.

“Effective June 1, Blackstone, Global Infrastructure Partners, and Cascade assumed ownership of Signature Aviation, which is now a privately held company no longer publicly traded on the London Stock Exchange,” Signature said in a statement released to AIN. “All three companies have unmatched experience successfully investing across the aviation, transportation, infrastructure, and hospitality sectors. They are deeply committed to accelerating the growth of the Signature Aviation business while making a positive impact on our team, our customers, the environment, and the communities we serve.”

In January, Global Infrastructure Partners issued an offer of $4.6 billion to purchase Signature, which operates the world’s largest FBO network with more than 200 locations globally. That prompted responses from Cascade, which handles the bulk of Microsoft co-founder Bill Gates’s personal fortune and owned a nearly 20 percent stake in Signature, as well as from private equity group Blackstone Infrastructure Advisors and Blackstone Core Equity Management Associates, which had previously issued its own $4 billion offer, to combine forces to buy Signature.


Source: AIN

By |June 11th, 2021|Categories: Aircharter News|0 Comments