Signature Aviation Revenue Declines In 2020, While Activity Stabilizes
Revenue for the first 10 months of 2020 at Signature Aviation, which includes Signature and Epic Fuels, declined 38% on continuing operations compared to the same time a year ago, while flight activity across its network has stabilized to about 80% of prior year levels in October, the company says.
Supersonic aircraft developer Aerion has taken a further step towards finalizing the design of its Mach 1.4 AS2 business jet by completing low- and high-speed wind tunnel test campaigns on both sides of the Atlantic.
Textron Rejects Tender Offer By Xcalibur Aerospace
Textron, parent company to Textron Aviation, Bell and other subsidiaries, has rejected a “purported” tender offer from London-based Xcalibur Aerospace to acquire Textron common stock, the company says.
Business and general aviation avionics sales fell 33.4% in the third quarter compared to a year ago, while sales during the first nine months of 2020 have fallen 27%, according to the Aircraft Electronics Association (AEA) 2020 Avionics Market Report.
As Signature Aviation reports flight activity stabilizing to around 80%, demand for pilots plunges but will retirements drive recovery? Take a look at our roundup of this week’s business aviation stories