Gulfstream Anticipates Return to Growth

Gulfstream Aerospace “will return to growth this year,”  predicted Jay Johnson, chairman and CEO of parent company General Dynamics. In a speech that Gus Lira, Vice President of JetOptions heard last week, Johnson credited the start of deliveries of the Gulfstream G250 and G650 (in photo) and said Gulfstream’s aerospace group order backlog was $18.5 billion at the end of the first quarter and “orders have been outpacing defaults for four consecutive quarters.” He added that “demand is still strong for large-cabin Gulfstreams, and we’re on pace to deliver 77 of them in 2010.” He said there is a “healthy order intake” for the G450 and G550, with backlog for both in the 18- to 24-month range. According to Johnson, there has been “some improvement” in the midsize business jet market as preowned inventory declines.

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