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Search resuls for: "General Dynamics Corp"


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☆ Pentagon, U.S. arms makers to meet on labor and supply chain
  + stars: | 2022-11-04 | by ( Mike Stone | ) www.reuters.com   time to read: +3 min
Prior meetings between Pentagon officials and top arms makers including Lockheed Martin Corp (LMT.N), Raytheon Technologies Corp (RTX.N) and General Dynamics Corp (GD.N) were focused on Ukraine and hypersonic weapon development. Pandemic related supply-chain issues are still hurting defense contractors because components and materials fail to arrive on time, which delays production and ultimately payment. read moreTHE LONGEST POLEIn the meantime, the defense industry is taking steps on its own to shore up supplies and labor. "If I had to boil it down to the longest pole in the tent, it's the labor issues that are pervasive throughout the supply chain," Raytheon Chief Financial Officer Neil Mitchill told Reuters. read moreReporting by Mike Stone in Washington; Editing by Alexandra Alper and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.
☆ General Dynamics quarterly profit rises by 5%
  + stars: | 2022-10-26 | by ( ) www.reuters.com   time to read: +1 min
Oct 26 (Reuters) - Gulfstream jet maker General Dynamics Corp (GD.N) on Wednesday reported an about 5% rise in its third-quarter profit, fueled by strong demand for chartered flights. Demand for private flights, which boomed during the pandemic, remained strong in the quarter as wealthier passengers opted to fly private. The company delivered 35 Gulfstream business jets in the quarter, compared with 31 jets a year earlier. Its book-to-bill ratio was 1.15 times compared with 1.57 times a year ago. Sales in its aerospace unit rose to $2.35 billion from $2.07 billion a year earlier, while overall revenue rose to $9.98 billion from $9.57 billion.
☆ Analysis: U.S. Republicans aim at Ukraine aid but unlikely to block it
  + stars: | 2022-10-21 | by ( Patricia Zengerle | ) www.reuters.com   time to read: +6 min
All 57 House votes against a bill providing more than $40 billion for Ukraine in May came from Republicans. Anderson said some Republicans have viewed Ukrainian President Volodymyr Zelenskiy's administration as corrupt since Trump's first impeachment trial. House Democrats voted to impeach Trump in 2019 on charges he held up military aid for Kyiv to put pressure on Zelenskiy to investigate one of Biden's sons. Several defense industry executives said they viewed the Republican comments on Ukraine aid as political rhetoric ahead of the midterms, not a threat. A Reuters/Ipsos opinion survey this month showed 73% of Americans felt the United States should continue to support Kyiv.
☆ Gulfstream Aerospace weighs G550 replacement for special missions
  + stars: | 2022-10-17 | by ( ) www.reuters.com   time to read: +1 min
ORLANDO, Fla., Oct 17 (Reuters) - General Dynamics Corp's (GD.N) Gulfstream Aerospace is weighing one of its business jets to replace its popular G550 aircraft which is now out of production for special mission purposes, President Mark Burns said on Monday. Governments are eying "special mission" business jets capable of looking or listening at potentially lower running costs than converted passenger or military planes. The rising demand for small jets with systems once reserved for bigger planes has energised a market led by Gulfstream, which faces challenges from rivals Bombardier (BBDb.TO) and France's Dassault Aviation SA (AM.PA). In September, Canada's Bombardier Inc (BBDb.TO) said the company's defense business involving special mission private jets could grow to a possible $1 billion in annual revenues from a 'fraction' of it right now. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Allison Lampert in Orlando, Fla.
☆ Private jet makers tout emission-fighting efforts, backlogs at air show
  + stars: | 2022-10-17 | by ( Allison Lampert | ) www.reuters.com   time to read: +5 min
It will also test the strength of business jet demand, which surged during COVID-19 and swelled order backlogs, but could now face a softer economy. Honeywell International Inc (HON.O) has forecast up to 8,500 new business jet deliveries worth $274 billion from 2023 to 2032, up 15% from last year's outlook. BUSY QUARTERU.S. business jet traffic recovered faster in 2021 than commercial flight traffic, soaring above 2019 levels. Independent aviation analyst Brian Foley expects private jet usage in the United States to go down to more traditional levels this fall. Despite being a sellers' market, aviation attorney Stewart Lapayowker sees some early signs of softness.
☆ Private jet makers tout emissions-fighting efforts, backlogs at air show
  + stars: | 2022-10-17 | by ( Allison Lampert | ) www.reuters.com   time to read: +4 min
It will also test the strength of business jet demand, which surged during COVID-19 and swelled order backlogs, but could now face a softer economy. BUSY QUARTERU.S. business jet traffic recovered faster in 2021 than commercial flight traffic, soaring above 2019 levels. Independent aviation analyst Brian Foley expects private jet usage in the United States to go down to more traditional levels this fall. Despite being a sellers' market, aviation attorney Stewart Lapayowker sees some early signs of softness. Some buyers in real estate and construction, sectors hit by rising rates, are reconsidering their orders, said Lapayowker, who leads Lapayowker Jet Counsel in Florida.
☆ Honeywell forecasts increase in private jet deliveries over next decade
  + stars: | 2022-10-16 | by ( ) www.reuters.com   time to read: +2 min
Oct 16 (Reuters) - Honeywell International Inc (HON.O) on Sunday lifted its outlook for business jet deliveries, as the COVID-19 pandemic brought in a wave of first-time users and buyers in the private flying market. Honeywell forecast up to 8,500 new business jet deliveries worth $274 billion from 2023 to 2032, up 15% from last year's outlook, while the usage in 2022 is expected to climb 9% higher. Private flying demand boomed during the pandemic as wealthier passengers opted for charter planes due to concerns about exposure to the virus. Register now for FREE unlimited access to Reuters.com RegisterPassengers who used to fly first class on a commercial airline have now increasingly switched to private flying. "Demand for new business jets is as high as we've seen it since 2015, and we expect high levels of demand and expenditures for new aircraft for several more years," said Heath Patrick, Honeywell Aerospace president, Americas aftermarket.
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