“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
A Mixed Sales Report from Hawker Beechcraft
Activity in the second quarter of this year raised the order backlog at Hawker Beechcraft to a record $5.1 billion, roughly double what it was at this time last year. However, the purchase of Raytheon's aircraft division by GS Capital Partners and Onex Partners for $3.3 billion cash led to an operating loss of $36.6 million.
Sales for the second quarter were down 10 percent from last year to $701 million, though the manufacturer delivered two more aircraft (109 jets, turboprops and piston airplanes) in the latter period. The mix of aircraft likely hurt the cause, as the company delivered only 30 jets, six fewer than in the same period last year.
The company did not deliver any Hawker 4000s in the quarter. However, the future looks bright for Hawker Beechcraft, as the value of orders rose more than 300 percent from a year ago, to $1.9 billion. The increase stemmed partly from NetJets Europe's order for 32 Hawker 4000s.
Meanwhile, the Hawker 750 made its first flight on August 23 and the Hawker 900XP received FAA certification the next day.