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August 02, 2023

Textron Aviation Posts Strong 2Q 2023 Earnings

King Air Sales Remain Strong

Notwithstanding an “unfavorable” labor market and chronic supply-chain disruptions, Textron Aviation—the Wichita, Kansas-based general aviation business unit of American industrial conglomerate Textron Incorporated has furthered its meaningful contribution to the Textron marque’s strong financial performance by dint of a favorable Q2 2023 earnings report.

Contemplating the Uncertainty Principle

On Thursday, 27 July, Surf Air stock opened trading at only $5-per-share. As trading continued into the late morning and early afternoon, the stock’s price fell to $2.75-per-share before trading in the company was halted on account of price volatility occasioned by the stock’s freefall. On Friday, 28 July, Surf Air stock opened at a modest $2.64-per-share, a price reflecting a market capitalization of less than $500-million—well below the $1.2-billion valuation reported during a May 2023 fundraising round, but indicative, still, of an enterprise value 25-times greater than the company’s annual revenue.

New Whiting Aviation Park Facility to Open Late-2024

Birmingham, Alabama-based program management firm HPM and Leonardo Helicopters—the rotary-wing subsidiary of Italian multinational aerospace, defense, and security conglomerate Leonardo S.p.A.—have broken ground on a state-of-the-art customer support center in Milton, Florida. HPM will manage the undertaking and provide preconstruction services for the rotary-wing support center at Whiting Aviation Park—a site immediately adjacent Naval Air Station Whiting Field (NASWF) (NDZ) in Florida’s Santa Rosa County.