Textron Aviation reported strong financial results during its second-quarter earnings call this morning, with revenues in the three months up 8% year over year, to $1.5 billion. This was driven by higher pricing of $57 million and a favorable volume mix of $56 million. Segment profit was $195 million, up $24 million from a year ago.

The Wichita-based aircraft manufacturer delivered 42 jets in the quarter, a slight decrease from 44 in the same period a year ago. It handed over five Citation M2 Gen2s, eight CJ3+s, eight CJ4 Gen2s, five XLS+ Gen2s, eight Latitudes, and eight Longitudes in the quarter. This compares with four M2 Gen2s, six CJ3+s, six CJ4 Gen2s, two XLS+ Gen2s, 13 Latitudes, and five Longitudes in second-quarter 2023.

Meanwhile, Textron Aviation delivered 22 Caravans in the quarter, down one unit from the same period last year. Only one SkyCourier was shipped in the quarter, five fewer than a year ago. The company also handed over 10 King Air 260s and 11 King Air 360s, up from six and four, respectively, last year.

Net cash provided by operating activities of the manufacturing group for the second quarter was $383 million, compared to $314 million last year. The company’s backlog at the end of the second quarter was $7.5 billion.

The preowned business aircraft market has seen six consecutive quarters of reduced pricing and increased inventory, with aircraft staying on the market longer, according to valuation specialist Vref.

Used business jet inventory is up 18% year over year, and Vref president Jason Zilberbrand said, “My inbox is flooded with price reduction notifications. Aircraft sitting unsold for over 90 days are often overpriced, reflecting a necessary market correction post-Covid.”

According to Vref, business jet inventory grew from 1,857 aircraft in fourth-quarter 2022 to 2,719 a year later, and 2,737 at the end of the first quarter. However, performance depends on the model. Newer jets are maintaining stronger market positions with a reduced demand for older jets, Vref said.

Pointing to specific models, Vref noted that about 6.5% of the Cessna Citation M2 fleet is for sale with an estimated selling time of six months and a 5% decline in values. Values for the Embraer Phenom 100 are down 7% this quarter with 6% of the fleet for sale and an estimated selling time of five months. Meanwhile, the Falcon 2000EX EASy has an estimated selling time of 2.5 years, values are down 8% this quarter, and 6% of the fleet is for sale.

Paris-Saclay-Versailles Airport (LFPN) is the latest location in Europe to begin receiving continual supplies of sustainable aviation fuel (SAF). Supplied by TotalEnergies, the HEFA-produced SAF is provided in a 35% SAF blend that will provide a 30% life cycle carbon emissions savings over conventional fossil-based jet fuel.

Among those applauding the news is aircraft manufacturer Daher. “The provision of [SAF] at Paris-Saclay-Versailles Airport, where we have one of our main maintenance bases in France, is an important step for the promotion of these fuels to our customers,” said Nicolas Chabbert, CEO of Daher's aircraft division. “Since 2022 we have been using the mixture of jet-A1 and SAF on our TBM and Kodiak aircraft for flight operations at our French industrial site in Tarbes-Lourdes-Pyrénées or at airports where it is available.” He added that the airframer is strongly committed to the transition towards carbon neutrality by 2050.

LFPN is owned by Groupe ADP, which views it as an innovation and training laboratory for its decarbonization plans. “After the installation of charging stations to support the growth of electric aviation in 2023, this new initiative in favor of decarbonization of general aviation is aimed more particularly at travel airplanes and helicopters present on the platform,” said Sébastien Couturier, director of ADP’s general aviation airports. “[Our SAF offering] will generate increasing demand that will gradually allow us to decarbonize all operations.”

Gary/Chicago International Airport (KGYY) broke ground this week on a $12 million, 47,000-sq-ft aviation hangar that it will own and operate. Slated for completion in May 2025, the hangar will house aircraft charter/management provider Wingtip Aviation, which signed a 20-year lease with the Gary/Chicago International Airport Authority and will consolidate its operations at KGYY.

The construction cost will be partially funded by a $1.3 million grant through Indiana Gov. Eric Holcomb’s Regional Economic Acceleration and Development Initiative program.

“[KGYY] has seen extensive growth and investment over the years, and this new hangar is further evidence of the airport’s incredible promise as an economic engine for the city of Gary and our region,” said Gary, Indiana mayor Eddie Melton. “Investments such as this new hangar create jobs and critical economic investment to the region, helping provide a strong foundation for future economic development.”

Predominantly a general aviation airport, KGYY is home to two FBOs and—at nearly 9,000 feet—has one of the longest runways in the region outside of Chicago O’Hare International Airport (KORD). The airport’s U.S. Customs facility recently celebrated a milestone, welcoming its 500th international arrival since its opening in late 2018, and has handled more than 100 arrivals over the past year as KGYY’s pace of international operations grows.

Duncan Aviation recently launched a new website dedicated to aircraft parts and in-house repair capabilities. Operators can easily search 723,000+ line items valued at more than $170 million, view high-resolution photos of the most popular parts, see stock availability, search Duncan Aviation’s in-house repair capabilities, and request an instant quote.

As it continues to hunt for capital funding, XTI Aerospace—which is developing the TriFan 600 VTOL business aircraft—has signed an investment agreement with FC Imperial, an affiliate of private global investment consortium Finexic Concordia Group. According to the Colorado-based airframer, the two companies have entered into an agreement that could result in sales of up to $55 million in stock, based on a fixed XTI company valuation of $275 million.

“XTI has had the pleasure of working with and sharing information with the investment team for over a year, and they have performed extensive technical and financial due diligence on XTI Aircraft Company and the TriFan,” said XTI chair and CEO Scott Pomeroy. “Assuming the completion of the proposed investment, we believe the additional capital will help accelerate the development of the TriFan through several major milestones including completion of the updated preliminary design review along with launching the critical design review phase.”

The TriFan 600, under development for about a decade, is a fixed-wing business aircraft designed to have the vertical takeoff and landing capability of a helicopter and is intended to reach speeds of 345 mph and a range of 700 miles. Its designers describe it as an entirely new category—the vertical lift crossover airplane.

Compared with fiscal year 2023, aeromedical operator LifeFlight’s helicopter flying hours climbed 25% to 5,159 hours, boosting the number of people aided by its rotary-wing operation to 5,313, up 131%. The Queensland-based not-for-profit company’s total number of people helped reached 8,177 in fiscal year 2024, up 11%.

LifeFlight operates a fleet of 11 helicopters, and their crews flew 3,378 missions in the past fiscal year. Missions in the Asia-Pacific region are done with a fleet of four Bombardier Challenger 604s. The helicopters include seven Leonardo AW139s, three Bell 412s, and one Airbus/Kawasaki BK117. The fleet operates from eight bases in Queensland and Singapore.

According to LifeFlight COO Lee Schofield, each week LifeFlight helped an average of 157 patients, or one every 64 minutes. Animal-related injury flights accounted for 158 missions, search-and-rescue 59, and motor vehicle accidents 710 (up 156%). “The numbers keep rising each year,” he said, “which shows how crucial LifeFlight’s aeromedical service is, reaching far and wide across our state, and helping thousands of people.”

George J. Priester Aviation has created a new leadership team structure, with industry veteran Brent Moldowan heading up day-to-day operations as president and CEO. Moldowan was part of Mayo Aviation’s integration into the larger George J. Priester Aviation family of companies.

“We’re confident in Brent uniting our entire team together where technology and best practices can be shared. His experience provides a cohesive way to support our front-line employees, who have built long-standing relationships with and understand the unique needs of our customers in each region,” said Andy Priester, who will continue as chairman and is “overseeing and implementing the company’s larger vision.”

Moldowan, having previously served the company as president of Mayo Aviation, will coordinate direction and alignment between the company’s brands. Each regional base—Priester Aviation in the Midwest, Mayo in the West, and Hill Private Aviation in the Southeast—will have a president to lead it, and will continue to provide personal aircraft owner and charter services.

Joining Moldowan on the George J. Priester Aviation leadership team are Viviana Kozin, COO; Ron Carlstrom, CFO; Rich Ropp, chief sales and services officer; and Stephanie Mueller, chief talent officer.

Saudia today signed what Lilium described as a binding sales agreement for 50 of its six-passenger eVTOLs, with options for another 50 Lilium Jets. The German manufacturer intends to start deliveries in 2026.

The Saudi Arabian airline has agreed to provide support for Lilium’s work to secure type certification with the country’s General Authority of Civil Aviation. Initial certification of the Lilium Jet will be through EASA.

According to Saudia, it plans to operate the electric aircraft on regional point-to-point air services and also to its hub airports. It aims to deploy Lilium Jets to carry pilgrims visiting for the Hajj and Umrah pilgrimages, and also for tourist flights associated with sporting and entertainment events.

The deal builds on the earlier memorandum of understanding between the two companies signed in October 2022. It was signed at Lilium’s headquarters near Munich by Fahd Al-Jarbou, CEO of the airline’s Saudia Private business aviation unit, and the manufacturer’s CEO, Klaus Roewe.

The contract calls for Saudia to give Lilium an undisclosed deposit amount and make pre-delivery payments over an agreed schedule. It also includes arrangements for spare parts and maintenance under Lilium’s Power-On program.

According to Ibrahim Al-Omar, director general of the Saudia Group, its investment in eVTOLs is part of the airline’s commitment to reduce its carbon footprint under the Saudi Vision 2030 program. 

AIN’s FBO survey is now open for year-round feedback, but the deadline to vote in the 2025 survey (to be published in April) is February 3. The survey takes only a minute, and you can do it while waiting for passengers, on the shuttle bus to/from the hotel, or any other time that is convenient for you. Participants will be entered to win one of five $50 Amazon gift cards (winner must reside in the U.S.). Log in to rate your experiences at the FBOs you visit.