APAC a huge market, says Gulfstream

Chennai/ Bangalore: Luxury business jet manufacturers Gulfstream, today said the demand for business jets in the Asia-Pacific (APAC) region is witnessing a huge growth. The company also believes that the economic growth of BRIC (Brazil, Russia, India and China) countries in the global business arena will act as a catalyst for its revenue growth.
“We are seeing a huge demand for business jets in APAC region and our share in this region has also grown,” said Roger Sperry, senior vice-president, international sales, Gulfstream.
According to the US-based company, the share of APAC region to its sales at the end of the year 2009 was around 12 per cent while it was around 7 per cent in 2007.
The number of Gulfstream aircraft in India region also grew significantly from five in 2001 to 20 in 2010. The company has sold around 139 aircraft in the APAC region till the end of 2010.
“During the financial crisis there was a drop in our sales and revenue. We are witnessing a recovery and the demand has gone up especially in the large-cabin aircraft segment,” Sperry said.
Gulfstream has seen a surge in orders in the previous year and has bagged 200 orders for the new $64.5 million worth G650 aeroplane. Gulfstream also expects to produce 90 large-cabin jets and 15-20 mid-cabin jets in the current year.
10/02/11 Business Standard

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