Weekly Wrap-up Video Update 4/29/16
Here are the top aviation news stories that you may have missed this week. Let us know what you think by commenting below. Be sure to subscribe on Youtube to be the first to get the Weekly Wrap-up Video Updates. Also, if you missed last week’s Wrap-up, you can catch it here.
BIZJET Market Slides
The latest business jet market index, provided by UBS Global Research, slid 4% to its lowest point since 2009. The index, which assigns a numerical value to the market based on its strengthening or weakening, currently rests at 29. Any index below 50 is considered to be a weakening market.
UBS determines the business jet market Index by reviewing survey responses from professionals within the aviation industry. The responses that UBS received pointed to weakness in emerging markets and currency devaluation as significant factors in the market slowdown.
Gulfstream Deliveries Fall
Gulfstream’s deliveries fell 15.6%, year over year, during the first quarter of 2016. During the first quarter of 2015, Gulfstream delivered 32 aircraft in comparison to 27 this year. The majority of the aircraft that were delivered went to U.S. customers followed by Middle Eastern and European customers.
Revenue and earnings from General Dynamic’s aerospace division as a whole also fell $121 million and $20 million respectively. However, General Dynamics CEO and chairwomen Phebe Novakovic, stated that first quarter sales are on par with 2015.
Flying on Sunshine
This week, the Solar Impulse 2 completed its 63-hour flight from Hawaii to Silicon Valley. The aircraft, powered only by sunlight, is attempting to circumnavigate the globe while producing zero emissions. The voyage was previously delayed due to battery issues and poor meteorological conditions.
The innovative aircraft is covered in solar panels, has a wingspan of a 747 and only weighs as much as a SUV. The aircraft has a maximum altitude of 28,000ft and a cruise speed of 37kts (43 mph / 69 kph).
1000th Plane Sold
Embraer celebrated the delivery of its 1000th business jet since the company entered the market in the early 2000’s. The milestone aircraft was a Legacy 500 that was delivered to Cleveland, Ohio based operator FlexJet.
Embraer president and CEO, Marco Tulio Pellegrini stated:
“I’m thrilled to celebrate this milestone. Delivering 1,000 business jets to more than 60 countries in just over a decade reflects our strong ability to listen to our customers and respond to them with solutions. We are especially pleased to celebrate this achievement with Flexjet.”
1st European HondaJet
This week, Honda delivered its first Hondajet in Europe. The aircraft went to their central European distributor, Rheinland Air Service (RAS). Although the HondaJet has not been cleared by EASA, it is expected to receive certification later this quarter.
HondaJet president and CEO Michimasa Fujino stated that the European market represents 20% of the Honda’s 100 plus orders and the company expects to begin shipping to European customers in 2017 if not sooner.
5280 Aviation is a Denver based team of aviation experts specializing in aircraft sales and consulting. Weekly, 5280 Aviation brings you a curated list of aviation news stories that you may have missed. We keep our finger on the pulse of the industry so you don’t have to. Visit aircraft-sales.com and learn more about our services and how we will help you.