It sounds like the people at Gulfstream are in for a better 2010 than they had in 2009. Jay Johnson the CEO and chairman of General Dynamics which is the parent company of Gulfstream stated, “We’re seeing a gradual improvement in the business jet market.” This was stated during the company’s second-quarter financial conference held yesterday. Johnson went on to state, “Gulfstream flying activity is up and we’re seeing a 16-percent increase in aircraft service sales…The industry has turned the corner.”
Gulfstream often seen as the leader in the business aviation space and one of the stronger markets in the industry is a good indicator of where the business of jet aviation is headed. Most of the numbers for Gulfstream are up in most of its orders in all categories. It was stated that Johnson expects sales to rise by “low to mid single digits” this year, with “steady growth” in revenues next year as G250 and G650 deliveries start in the second half.
Gulfstream numbers are not reflective on the entire industry but it is good to hear that corporate jets and jet aviation is beginning to “turn the corner”. We at Corporate Jet Insider believe it to be about time.