Business jet manufacturers are stabilizing, but backlogs continue to evaporate at alarming rates. Gulfstream’s second quarter sales were up and profit margins were the highest in two years. But backlog declined another $730 million, following a $768 million decline in the first quarter. JPMorgan analyst Joseph B. Nadol warns that if Gulfstream’s backlog for “in-service aircraft” continues to run down at the same rate, it will reach $4.5 billion at the end of the year “and things might get ...
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