Gulfstream Anticipates Return to Growth

Gulfstream Aerospace and sister company Jet Aviation "will return to growth this year,"  predicted Jay Johnson, chairman and CEO of parent company General Dynamics. In a speech last week, he credited the start of deliveries of the Gulfstream G250 and G650 (in photo) and said Gulfstream's aerospace group order backlog was $18.5 billion at the end of the first quarter and "orders have been outpacing defaults for four consecutive quarters." Johnson added that "demand is still strong for large-cabin Gulfstreams, and we're on pace to deliver 77 of them in 2010." He said there is a "healthy order intake" for the G450 and G550, with backlog for both in the 18- to 24-month range. According to Johnson, there has been "some improvement" in the midsize business jet market as preowned inventory declines.