AIN Staff

<p>Raytheon Aircraft reduced its 2002 operating income loss to $4 million versus a loss of more than $750 million in 2001. The Wichita manufacturer attributed the narrowing of the gap to cost and productivity gains. The company also had several rounds of layoffs last year and has announced another 600 workers will be let go this year. In 2002, Raytheon delivered 174 Hawkers, Beechjets, King Airs and Premier Is compared with 217 in 2001. The company is projecting 191 deliveries this year, primarily due to more shipments of Premier Is. Raytheon also revealed cancelled orders for three Premier Is last year, but reported the backlog still covers 190 Premier Is. Total aircraft backlog is $4.4 billion.</p>


Raytheon Aircraft narrows loss gap

Raytheon Aircraft reduced its 2002 operating income loss to $4 million versus a loss of more than $750 million in 2001.

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