Usglobaljetsacc Discussion Threads

[tiraider] 20/3/2003 21:25

A customized jet with a difference!! It's invisible to radar and infra-red detection

[ariane] 20/3/2003 21:10

Providence, Rhode Island - March 20, 2003 - Textron Inc. (NYSE: TXT) today confirmed that it will be revising its 2003 outlook for business jet deliveries at its Cessna Aircraft business unit. As a result, the company will be reducing its 2003 earnings guidance.

"The current economic and geopolitical situation has worsened and is affecting business jet demand much more severely than expected," said Textron Chairman, President and CEO Lewis B. Campbell.

Most significantly, one of Cessna's largest customers recently informed the company of a significant reduction in the number of jets that it plans to purchase in 2003. The company is currently in negotiations with the customer to determine the specific changes.

Previously, Textron planned to deliver about 220 jets this year. Depending upon the outcome of the negotiations and other jet sales through the year, the company now expects to ship between 180-195 jets in 2003.

Textron will be taking immediate, aggressive steps to help offset the impact to earnings from this reduction in business jet deliveries. Actions include cutbacks in discretionary spending across the enterprise, as well as furloughs and an additional permanent workforce reduction at Cessna. Other offsetting factors include higher volumes at Textron Systems and lower-than-budgeted insurance costs, interest expenses and corporate expenses.

Textron will communicate new earnings targets after it has completed negotiations and has fully assessed the impact on its business.

Campbell added, "In spite of the temporary softening in the business jet market, we believe that long-term demand for business jets is still excellent. We remain fully committed to our market leadership and will roll out the new Sovereign, CJ3 and Mustang jets according to plan."

Cessna Aircraft is part of Textron's $4.9 billion Aircraft segment. Based in Wichita, Kansas, the unit employs 11,000 people and is the world's leading producer of light and mid-size business jets, utility turboprops and single-engine piston aircraft.

Textron Inc. is an $11 billion multi-industry company with 49,000 employees in 40 countries. The company leverages its global network of businesses to provide customers with innovative solutions and services in industries such as aircraft, fastening systems, industrial products and components and finance. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at www.textron.com.

[maywillow] 11/3/2003 14:00

BEIJING (AFX-ASIA) - Boeing Co expects China's civil aviation market to
triple in the next 20 years, and for medium sized jets to dominate the market in
coming years, reported Xinhua news agency citing vice president of marketing,
commercial aircraft Randolph Baseler.
Boeing has forecast that China's civil aviation market will become the
world's largest commercial aviation market after the US.
China's international air travel market increased five fold in the last ten
years, Baseler said.
To meet projected demand, China's airlines will require an additional 1,912
airplanes, most of those in the medium-sized category, the report said.
Baseler noted that an increasingly competitive market place is driving
airlines to provide passengers with what they want, which means more non-stop
and more frequent flights, said Baseler.
Direct flights from China to Europe are seen growing at the country's major
hubs of Beijing and Shanghai, while services to North America will also see a
substantial increase, it said.
Currently 17 direct flights shuttle between China and North America, but
Boeing forecasts that by 2021, the number will more than double to 35, Baseler
said.
China's southewestern cities of cities of Chongqing and Chengdu, its central
cities of Wuhan and Xian as well as the northeastern city of Shenyang could also
see new non-stop routes between China and North American, the report said.
bms/rcw/cml/pb

[ariane] 10/3/2003 08:46

Lakers Legacy

[maywillow] 09/3/2003 11:56

tir, well done,you beat me with the link.

you too have a good day.

[tiraider] 09/3/2003 11:42

maywillow;

You beat me to netjets, that was my next post!! Ah well, I'll be quicker next time.

Out of interest, the beneficial owner of Netjets is none other than Mr Buffett himself. EDIT; just read your link, it mentions that WB is the owner there.

Have a good day,

rgds

tr

EDIT; here's their site;

[maywillow] 09/3/2003 10:46

thanks tir.

Netjets

[tiraider] 08/3/2003 10:11

Those who made a great escape
By Nic Hopkins



THE collapse in value of tech companies has spawned countless stories of vast paper fortunes that went up in smoke. But as the piles of wrecked dot-com companies grew larger, so did the number of executives who got seriously rich by selling shares at just the right moment.
Andrew Rickman, chairman of Bookham Technology, and Mike Lynch, the co-founder of Autonomy, are two entrepreneurs who saw their own fortunes wither as the value of their companies crashed by more than 90 per cent.

Before you shed a tear, consider that between them they offloaded shares worth more than £100 million ahead of the crash. Lynch sold shares worth £73 million while Rickman, whose net worth soared at one stage to £1.5 billion, cashed shares worth £40 million.

In fact, directors of more than a dozen companies whose shares fell by 90 per cent or more in the crash collectively cashed more than £550 million worth of shares at the height of the bubble.

David Potter, who founded Psion, the wireless electronics group, sold £78 million of shares between September 1999 and March 2000. The company, which was worth more than £3 billion in 2000, is today valued at £200 million.

Lynch, who grew up in relatively humble surroundings, is unapologetic when considering the money from cashing in on investors' ravenous appetite for technology shares.

He says: "People forget that from 1990 onwards I was trying to get a technology start-up going. We had very little support to begin with. Ten years later we got to the point where I was able to cash in some of that, which was good. I sold about 1 per cent, but I could have sold a lot more."

He adds: "I come from a background where you really do learn to appreciate wealth, and I'm still here because I believe that we can achieve a lot more with Autonomy."

The fattest payoffs at the peak of the dot-com boom were, not surprisingly, across the Atlantic. Perhaps the biggest was that of Mark Cuban, co-founder of Broadcast.com, who made almost $1.6 billion when the business was sold to Yahoo for $5.6 billion in 1999.

Cuban used his engorged bank balance to switch from beaming sports games on to the web to become a big name in the US National Basketball Association, paying £175 million for the Dallas Mavericks.

He also holds the record for making the biggest purchase on the internet by an individual, having handed over $41 million for a brand new Gulfstream V business jet a year later.

[waldron] 08/3/2003 08:03

Bombardier Global 5000

[ariane] 06/3/2003 08:20

Accounting Changes for Bombardier

[maywillow] 05/3/2003 14:35

MONTREAL (AFX) - Bombardier Inc unit Bombardier Aerospace said it will cut
3,000 jobs at its facilities in Montreal, Toronto and Belfast in Northern
Ireland over the next 12 months.
"In view of challenging market conditions, we have a responsibility to take
aggressive actions to continuously improve our competitive edge and align our
production rate with market demand," said Pierre Beaudoin, president and chief
operating officer, Bombardier Aerospace.
Yesterday Bombardier warned it will not meet its previously announced full
year pre-exceptionals EPS target of 0.81 cad, on the basis of preliminary full
year to Jan 31 2003 results. Instead, EPS before exceptionals is now seen coming
in at 0.40-0.45 cad.
wf/cmr

[ariane] 01/3/2003 10:44

The Chinese Regional Jet

[maywillow] 28/2/2003 09:26

Nice ones Tir.

[tiraider] 27/2/2003 19:39

Own a private jet


Learjet45


Learjet45 flightdeck

[maywillow] 14/2/2003 07:21

Embraer cuts targets

[waldron] 11/2/2003 07:39

Gold Contract for Bombardier

[tiraider] 07/2/2003 21:09

for more pictures of civil / military / historic / space.........

click.........

[tiraider] 07/2/2003 21:01

Boeing 777 flightdeck

[tiraider] 07/2/2003 20:50

Evening, Maywillow;

Only serious players need look at these ($35M+)

The G5........... Gulfstream 5 (includes your own anti-missile system!!)



rgds
tr