NBAA 2013 Live News: Press Day

Viva NBAA 2013

NBAA 2013 Live News – what happens in Vegas, ends up on this page. Welcome to Corporate Jet Investor’s live coverage of NBAA 2013 from Las Vegas. Stories get posted as they happen at the top of the page. So if you want the full day you need to read from the bottom up.

This year, the NBAA show returns to Las Vegas, after 25,150 people attended NBAA 2012 in Orlando.

Summary

Although NBAA officially starts tomorrow, today is the press day and a lot of news will be coming out of the 29 press conferences.

Top stories:

• Dassault launched the new Falcon 5X aircraft.
• Embraer introduced the Lineage 1000E and announced it will extend the range of the Legacy 450.
• Honda Aircraft announced it will offer long-term financing to US customers from 2014.
• Bombardier received a firm order for 30 Learjet 85s from Flexjet.

If you have any news or comments, you can send emails to Sophie at [email protected] or Terry at [email protected]. Make sure you are also following us on Twitter @CorpJetInvestor.

Live feed

19.30 We’re about to wind-down this feed for the day, but make sure you’re following our live coverage tomorrow from the first official day of NBAA 2013.

In case you had any doubts about business aviation, we’ll leave you with this tweet from the NBAA:

According to @LVCVA, #NBAA13 will add about $40 million in non-gaming revenue to the local economy this week. http://t.co/wFj8da0A8V

— NBAA (@NBAA) October 21, 2013

19.20 Check your inboxes for our round-up of the day. Alternatively, you can read Alasdair’s editorial below:

Today is an exciting day for Dassault as it launched its Falcon 5X. The French manufacturer is investing in future products and with its loyal customers it should be a success.

It is not just Dassault. People are in Las Vegas having fun. Everything is good. Magazines are talking about the recovery starting.

But stop right there. On Friday, Cessna announced its third quarter results. They were dire. Compared to the same quarter in 2012, Cessna’s sales were down $185 million; it delivered 25 less jets; and it lost $23 million compared to a profit of $30 million. More worryingly, Scott Donnelly, chairman of Textron, has no idea when things could improve. Sorry for spoiling the party atmosphere.

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19.10 HondaJet announced that Honda Aircraft Company and American Honda Finance Corporation (AHFC) will offer term loan financing for HondaJet customers in the US starting early next year.

Unfortunately, it’s not all good news for the company…

https://twitter.com/FG_STrim/status/392405278617899008

16:00

• Beechcraft offers Garmin G5000 flight deck as an option for the Hawker 400XPR upgrade.
• Beechcraft also announced that it delivered a total of 48 aircraft (including 26 King Air turboprops and 12 Baron and Bonanza piston-engined aircraft) during Q3, a 47% year-on-year increase.
• Wheels Up’s $1.4 billion order for 105 King Air 350i during Q3 is the largest general aviation propeller aircraft order in history.
• Beechcraft also confirmed that it has certified and started installations on a range of wireless in-flight connectivity equipment.

15:00 Dassault announces launch of the Falcon 5X – an all new twin-engine, eight-seater capable of flights from Los Angeles to London and Paris to Hong Kong. The manufacturer claims that the combination of the aerodynamics and Snecma Silvercrest engines will make the new aircraft 50 per cent more efficient compared to the competitor’s technology. Production has begun and final assembly is expected to be completed next year.

“With the Falcon 5X, Dassault has expanded the limits of what is possible in a business jet,” said Eric Trappier, Chairman and CEO of Dassault Aviation. “This new aircraft will offer an incredibly spacious and comfortable cabin with handling qualities and airport performance unmatched by any other large business jet. And this, while maintaining the traditional hallmarks of high performance, industry leading efficiency and robust design that have come to define the Dassault Falcon brand over the past 50 years.”

13:00 HondaJet confirmed that flight testing and manufacturing are nearing completion. The company also announced that Honda Aircraft Company and American Honda Finance Corporation (AHFC) announced intentions to offer term loan financing for HondaJet customers in the United States. AHFC expects to begin accepting credit applications in time to support deliveries. More details about the programme will be provided early next year.

11:00 Bombardier announced a firm order from Flexjet for 30 Learjet 85s, which is expected to complete its first flight before the end of 2013. The Canadian manufacturer also said that it has started to deliver Learjet 75s and is on schedule to deliver the first Learjet 70 before year-end.

10:00  Embraer introduced the Lineage 1000E, which will be an extended-range variation of the Lineage 1000. The manufacturer also announced that it will offer the Legacy 450 with a larger cabin size and increased range for Legacy 450. It was also confirmed that movie star Jackie Chan will be the launch customer in China for the Legacy 500, with delivery expected in 2015.

08.30 Don’t forget to bring your autograph book. My colleague Alasdair Whyte has posted two updates on Twitter:

Celebrities going to #NBAA13 – Actor Harrison Ford and Iron Maiden's Bruce Dickinson #BizAvhttp://t.co/VFSHC1tmxa pic.twitter.com/sjb82txJe6

— Alasdair Whyte (@AlasdairWhyte) October 19, 2013

08.00 In case you missed it, Cessna reported grim figures for its third quarter. It lost $23 million and delivered 25 less aircraft.

07.45 Many of you will be flying in today, but the journalists attending the show have 29 press conferences to attend – including the launch of the Falcon 5X. As you often have four conferences at the time, it’s easy to feel like you have chosen the wrong one. Here is the running order for today:

07.30 (PDT) Welcome to Las Vegas. Although the NBAA show does not officially start until tomorrow, our live coverage begins today with the press day and we are expecting lots of big news. Rather than running around the show, I (Sophie) will be editing this news feed from New York, with help from Terry Spruce our aircraft editor, in London. The rest of our team are live in Vegas.