Luxury jet sales bounce back as new demand soars
Published 24/07/2014 | 02:30
General Dynamics's Gulfstream unit and Textron's Cessna Aircraft are among planemakers adding new business-jet models as demand starts rebounding after an order slump that forced industrywide production cuts of more than 40pc.
Gulfstream expects to boost deliveries more than 15pc next year as the long-range G650 enters service, company president Larry Flynn said.
"Barring any major shifts in world activities, we'll see a slight uptick in our deliveries" this year, Cessna's president, Scott Ernest, said.
Worldwide business jet sales may rise next year because of emerging-market demand and introduction of longer-range models, components-maker Honeywell said in its annual corporate-jet forecast.
The slump in business-jet orders had forced planemakers to curtail new models and cut staff. Cessna fired more than half its staff.
Gulfstream has added 1,300 jobs this year as it boosts production. The company is selling more large-cabin jets, with deliveries up 20pc this year.