Pilatus Logs Successful Year, Looks To Future with PC-24

Pilatus Aircraft reported revenues last year of $982.4 million, up from $818 million in 2016 but down from slightly more than $1 billion in the three prior years, according to the company’s recently published annual report. Earnings at the company were $134.5 million, up more than $45 million from 2016.

The Swiss aircraft manufacturer delivered 85 PC-12NG turboprop singles in 2017, six fewer than in the previous year. A four-unit decrease in shipments to U.S. customers, to 46, was exactly offset by an increase in PC-12NGs handed over to clients in Europe, to 24. While the company received certification of its new PC-24 twinjet at the end of last year, deliveries did not begin until four months ago; to date, two PC-24s are in service with customers, and the first one has already logged more than 250 hours.

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Backlog at Pilatus surged to $2.16 billion, which the company pointed out is equivalent to more than two years of its sales revenue. This is up from about $1.74 billion at the end of 2016.

“2017 was an exceptionally successful financial year for Pilatus,” said company chairman Oscar Schwenk. “Our most important goal of the year was certification for the PC-24, and that was achieved. The order books are full. The main goal for 2018 is to ensure a successful and wide-reaching launch for the PC-24.”