Gulfstream reports spike in Q1 sales - “overwhelming response” for new G650
26 Apr 2008
Gulfstream said that sales of its business jets in the first quarter have increased 17 per cent year-over-year. According to Nicholas Chabraja, chairman and CEO of parent company, General Dynamics, order backlog at the Savannah, Georgia-based aircraft manufacturer was up by $200 million in the quarter.
The orders include sales of in-production aircraft only. Chabraja said that the company did not take orders for the new G650 until 15 April, which falls in the second quarter.
As of last week, Gulfstream began accepting $500,000 refundable deposits for the high-$50 million G650, and according to Chabraja, the aircraft had drawn ''an overwhelming response.''
The manufacturer is now in the process of converting these letters of intent into full sales contracts.
Meanwhile, Q1 deliveries at Gulfstream tallied 37 green aircraft, as compared with 30 in the same period last year. The manufacturer also shipped 22 large airplanes and 15 mid-size jets during the quarter.
The company also confirmed a trend being commonly experienced by aerospace manufacturers that a healthy demand for business jets existed in spite of a weaker US economy, thanks to increasing international sales.
