Aircraft
Gulfstream Deliveries, Revenues, and Earnings Soar in Q1
Company hits on all cylinders as it ramps up G700 deliveries and prepares for G800 service entry
Gulfstream G700 at Savannah
The preowned business jet market will become softer as Gulfstream G700 deliveries begin and customers trade up to the newly certified model. © Chad Trautvetter/AIN

First-quarter revenues at General Dynamics’ aerospace unit (Gulfstream Aerospace and Jet Aviation) climbed 45.2% year over year, to $3.026 billion, and earnings rocketed 69.4%, to $432 million. Meanwhile, aircraft deliveries at Gulfstream surged 50%, to 36 aircraft, General Dynamics reported today.

Gulfstream shipped 30 large-cabin jets, including 13 G700s, and six super-midsize G280s in the quarter, up from 21 large-cabin jets and three G280s in the same period last year. According to General Dynamics chairman and CEO Phebe Novakovic, Gulfstream is projected to deliver 150 aircraft this year. She also noted that the last G650s will be delivered by July, with the newly certified G800 succeeding the older model, though Novakovic did not disclose when the first G800 would be handed over to its customer.