Is Raytheon Aircraft for sale?

"I cannot comment, but I keep people telling people when they ask me that it doesn't matter," Jim Schuster, chairman and CEO of the troubled bizjet manufacturer told Show News.

"If we were for sale the most important thing we could do is perform and produce and support our aircraft better than we ever have. And if we're not for sale the most important thing we can do is perform and produce and support our aircraft better than we ever have.

"I absolutely will not allow that to be a distraction, and it shouldn't be for anyone here. I don't spend a second thinking about it."

Brave words from the man charged with fixing Raytheon Aircraft. The $3.2 billion company reported a dismal third quarter, with aircraft shipments down to 73 from 114 in the corresponding period, sales of $449 million vs $749 million, and an operating loss of $758 million (after charges of $693 million related mostly to the Beech 1900D) compared with a profit of $40 million a year earlier. "Performance is significantly below both plan and prior year through the first nine months of 2001," with an overall sales decline of 20%, Raytheon said.

Against that background Schuster is working hard to improve customer support, and to ramp up production of the Premier I entry level jet after a two year delay in certification.

A parallel priority is to prevent any delays in the new super midsize Hawker Horizon, which first flew in August. It must be on time, with performance as advertised, Schuster insists.

Raytheon Aircraft is not exhibiting at NBAA but is here holding operator seminars.