Global Economic Crunch Makes Financing Hard To Get

Texas-based Bell Helicopter, a division of Textron, Inc., reported sales are down drastically from a year ago due to global credit woes.

The Dow Jones Newswire reports that Robert Fitzpatrick, Bell's senior vice president for business development, discussed both the downturn in sales and prospects for growth in the Asia-Pacific market at the Aero India show last Thursday.

"Helicopter demand is there but you can't get the finance," Fitzpatrick said. Bell took only three orders in January, compared to 40 orders placed in January of 2008. He added that sales for February are up from last month.

Bell currently sits atop $6.2 billion in total orders, expecting to deliver 180 aircraft in 2009 - compared to 167 in 2008, Fitzpatrick said. A fifteen percent growth rate is anticipated in the Asia-Pacific market, that will rival the US-European market within 20 years, he added.

The number of Bell Helicopter sales this year in India has stayed the same as last year, at 18. Fitzpatrick said the company has a total of 25 orders in the works from Indian buyers, to be delivered by the end of 2010.

FMI: www.bellhelicopter.textron.com