Including Jet Aviation and Gulfstream, revenue of GD’s Aerospace Group as a whole grew 17.8% to $2.3 billion in the first half of 2012, while earnings increased 20.3% to $528 million.
Jet Aviation services continue to improve, while service demand across world regions was uneven. Jet Aviation experienced a “modest volume improvement” from a year ago. “This performance reflects the dichotomy of increased demand across some regions, such as Asia, and a decrease in maintenance and repair demand in Europe,” he says, where the economy remains uncertain.
He adds, “We’ve taken a hard look at our European service operations and are taking appropriate actions to reshape that footprint.”
This comes in addition to the reorganization of Jet Aviation Basel’s completions operations in Switzerland, which involved downsizing.