Hawker Releases 2011 Sales Data
When the General Aviation Manufacturers Association published its annual summary of sales data in February, it came with an unusual omission -- Hawker Beechcraft was not ready to release its fourth-quarter numbers. On Tuesday, GAMA published an update (PDF) with the Hawker data included, but it resulted in minimal change to the overall report. In February, the available numbers showed a 3.5 percent drop in total shipments compared to 2010. Now, with the added data from Hawker, the 3.5 percent drop remains unchanged. Hawker said it delivered 198 aircraft during the year. In 2010, Hawker delivered 214 aircraft. Adding Hawker's numbers did, however, affect the total billings trend for the year.
Without Hawker's numbers, GAMA reported in February that billings overall were up 0.4 percent in 2011. Adding in Hawker's report, with billings of $1.4 billion, the total billings for the industry now are down by 0.4 percent. Hawker also reported delivery of 93 military aircraft in 2011, but those numbers are not included in GAMA's totals. The company has been struggling for some time with cash-flow issues, and has publicly discussed selling off assets or re-organizing under Chapter 11 as possible options. Demand overall for new airplanes continues to be suppressed by extensive inventories of used aircraft, GAMA spokeswoman Caroline Daniels said in February. Used inventories showed some decline in 2011, she said, but used prices also continued to fall, by an average of 14 percent. Financing is still difficult to secure. "Easier credit would help to release some of the pent-up demand [for new aircraft]," she said.