November 14, 2012 / 6:08 PM / 5 years ago

Gulfstream delivers first G280 business jet

Nov 14 (Reuters) - Gulfstream Aerospace, the business-jet
making division of General Dynamics, said on Wednesday it
delivered its first mid-sized G280 jet to a U.S.-based
manufacturer it did not identify.
    Produced by a joint venture between Gulfstream and Israel
Aerospace Industries, the G280 is priced at about $24 million
and can seat up to 10 passengers.
    Demand for business jets fell in 2009 after five years of
growth in deliveries as companies clamped down on spending in
wake of the global financial crisis.
    From a peak of 1,313 planes delivered in 2008, total
worldwide shipments of business jets have fallen during the last
three years, with 695 jets shipped in 2011, according to data
from the General Aviation Manufacturers Association.
    Honeywell International, which gives an annual forecast
based on surveys with business jet operators, this year said jet
demand is rebounding and is likely to rise over the next decade.
    Larger jets, used by bigger companies and extremely wealthy
individuals, have fared better than smaller ones whose chief
clients include small business customers that were pinched in
the downturn.
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