July 21, 2010
By Alton K. Marsh
Second quarter results show Textron, the parent company of Cessna Aircraft Co. and Bell Helicopter, is doing well despite continued losses at Cessna. Cessna's revenues decreased $236 million in the second quarter.
Second quarter profits are up $153 million (compared to the 2009 second quarter) at Bell and an identical $153 million at Textron’s Industrial segment. Unmanned aerial systems account for another $57 million increase. (The Industrial segment includes E-Z-Go golf carts, Greenlee wire and cable manufacturing, Jacobsen lawn care equipment, and Kautex automotive systems.)
Cessna’s $236 million decrease primarily reflects lower new-aircraft deliveries of 43 jets compared with 84 jets in the corresponding period last year. These decreases were partially offset by higher aftermarket and used aircraft sales. The Cessna backlog ended the second quarter at $3.7 billion, down $400 million from the end of the first quarter.
Bell's revenues reflect higher V–22 Osprey and H–1 attack and transport helicopter deliveries, and higher spares and support volume, partially offset by lower commercial aircraft volume. Bell’s backlog increased $200 million from the end of first quarter to $7.1 billion.
The management team running Chelton Flight Systems and S-Tec Corp. in Mineral Wells, Texas, for parent Cobham Avionics saw an opportunity and bought in.
AOPA met with key California legislative staffers to educate them on a proposed overflight of parks regulation.
Calculating weight and balance is an important task for pilots. AOPA members share their personal favorite weight-and-balance apps.
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