FlightGlobal reports that Gulfstream “is hoping that deliveries of its G700 can begin in the current quarter after slower than anticipated certification of the ultra-long-range business jet by the Federal Aviation Administration caused revenue and profit to fall below expectations for 2023.” US type approval “for the Rolls-Royce Pearl 700-powered G700 was anticipated in the fourth quarter, enabling 15 deliveries by year end.” However, that “did not happen, causing Gulfstream’s parent General Dynamics to miss out on around $1 billion in revenue and $250 million in earnings for the three-month period.” General Dynamics CEO Phebe Novakovic “said Gulfstream has told the first customers for the jet to ‘schedule their pre-delivery inspections contemplating delivery this quarter.’” Gulfstream expects to “deliver 50 G700s this year, a large proportion of the 160 jets it expects to hand over in 2024.”
Full Story (FlightGlobal)
Tag: First Quarter
First-Quarter Outlook for United Beats Estimates After Profits Climb to End 2024
CNBC reports, “United forecast first-quarter earnings that surpassed analysts’ estimates as the carrier seeks to grow earnings again in 2025 thanks to strong travel demand. The airline said Tuesday that it expects to earn an adjusted 75 cents to $1.25 in the first three months of the year, above the 54 cents analysts had expected, according to LSEG estimates.”
Full Story (CNBC)
Space Economy Generates $6.5 Billion in First Quarter
Aviation Week reports, “Companies in the space sector raised $6.5 billion from January to March, an increase of 33% over the fourth quarter of 2023, according to a new report by early-stage venture capital firm Space Capital. The bulk of the investment went to more mature companies, especially late-stage startups. They received $4.3 billion, about 66% of the total. In contrast, growth-stage investments fell 51%.”
Full Story (Aviation Week)
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SpaceX Falcon 9 rocket launches 23 Starlink satellites from Cape Canaveral
(Spaceflight Now; YouTube)