Gulfstream G700 deliveries in the third quarter appear to have missed the forecast of 16 by at least a dozen aircraft, according to two business aviation analysts.
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Gulfstream G700 deliveries in the third quarter appear to have missed parent company General Dynamics' forecast of 16 by at least a dozen aircraft, according to two business aviation market watchers. Savannah, Georgia-based aircraft broker Hagerty Jet is reporting three G700 deliveries in the quarter, while Jefferies counted four.
Third-quarter Gulfstream deliveries will be revealed during General Dynamics’ October 23 investor conference call. Gulfstream told AIN that it is in a quiet period until then.
“As of today, we count only 14 G700s delivered and in service. We saw only one delivery in each month of the third quarter,” the broker said yesterday. “Despite criticism of the lack of transparency and reporting of the G700 deliveries, General Dynamics reiterated its confidence in deliveries…in late July. GD reconfirmed they plan to deliver more than 50 G700s by year-end, with 16 more by October and another 25 in the fourth quarter.
“Our delivery numbers may be slightly off, but there’s no way Gulfstream [was] going to find 13 deliveries by October 1, especially since they experienced Hurricane Helene in Savannah,” Hagerty Jet said.
Jefferies and Hagerty were puzzled by the delivery delays, with both noting no pilot training issue since FlightSafety International recently reported typing 100 G700 customer pilots. Jefferies added that the tail wiring modifications on early-production aircraft are completed and thus not slowing shipments, while Hagerty said Rolls-Royce has reported a “flawless” service introduction for the G700’s Pearl 700 engines.
Reports: Gulfstream G700 Deliveries Lag by a Dozen in 3Q
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Gulfstream G700 deliveries in the third quarter appear to have missed parent company General Dynamics' forecast of 16 by at least a dozen aircraft, according to two business aviation market watchers. Savannah, Georgia-based aircraft broker Hagerty Jet is reporting three G700 deliveries in the quarter, while Jefferies counted four.
Third-quarter Gulfstream deliveries will be revealed during General Dynamics’ October 23 investor conference call. Gulfstream told AIN that it is in a quiet period until then.
“As of today, we count only 14 G700s delivered and in service. We saw only one delivery in each month of the third quarter,” the broker said yesterday. “Despite criticism of the lack of transparency and reporting of the G700 deliveries, General Dynamics reiterated its confidence in deliveries…in late July. GD reconfirmed they plan to deliver more than 50 G700s by year-end, with 16 more by October and another 25 in the fourth quarter.
“Our delivery numbers may be slightly off, but there’s no way Gulfstream [was] going to find 13 deliveries by October 1, especially since they experienced Hurricane Helene in Savannah,” Hagerty Jet said.
Jefferies and Hagerty were puzzled by the delivery delays, with both noting no pilot training issue since FlightSafety International recently reported typing 100 G700 customer pilots. Jefferies added that the tail wiring modifications on early-production aircraft are completed and thus not slowing shipments.