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Tue, Jan 20, 2009

Aero-TV Profiles All Things Piper: The NBAA Update (Part Two)

One Of GA's Legacy Manufacturers Wasn't Bashful About Looking To The Future At NBAA 2008

We thought that the presser that Piper conducted at NBAA 2008 might hold a few clues as to their future and that, combined with other interview material, might make for an interesting overview as a revitalized Piper heads into 2009. Jim Bass, President of Piper Aircraft announced during the 2008 NBAA Convention that, against declining industry-wide sales of piston aircraft, Piper's piston sales were up through the 3rd quarter of '08.

 

At a time when General Aviation’s overall piston-aircraft deliveries are down, Piper Aircraft underscored its comparative string of successes by noting that its piston aircraft deliveries were up 24 percent for the 3rd Quarter of 2008. The company also that announced overall deliveries for the first nine months of 2008 were up 18 percent over the same period last year, and that its upline PA-46 models are registering record deliveries.

"In the last three years, Piper has moved forward on virtually every front -- from new product introductions to strong sales, from strategic alliances to breaking into an entirely new segment with our all-new PiperJet," said Piper President & CEO James K. Bass. "We are a modern-day, American success story: a company that relies on American workers to provide the next generation aircraft for the world."

Piper’s current piston increases are driven by the unparalleled -- and, for some, unexpected -- success of its cabin-class Piper Matrix, a decontented model off the Malibu Mirage platform. It appears Piper correctly predicted the market for an the unpressurized, six-seat aircraft... as to date, the model has accounted for close to half of the company's 195 aircraft deliveries in the first nine months of 2008.

That number compares favorably against the 166 aircraft Piper delivered over the same period in 2007. Of that total, 76 were from deliveries of the Piper Matrix. The Vero Beach, FL-based planemaker also reported sales of its entire PA-46 model line (Meridian, Mirage and Matrix) were at record levels as 2008 came to a close.

"We have orders for 101 Matrix models this year," Bass said. "The Piper Matrix fills a niche in the market that hasn't been truly addressed until now. To date, our entire first year of production is sold out and market demand continues to be very strong. At the same time, deliveries of our flagship turboprop, the Piper Meridian, continue unabated, with 33 aircraft for the first nine of this year and an expected 53 deliveries in total for 2008. These deliveries have continued at the same strong levels as those in 2007."

In all, Piper recorded $150.5 million in billings in the first nine months of 2008, compared with $125 million in billings for the same period in 2007. It also puts the company on a favorable footing as it prepares to bring its first-ever turbofan-powered aircraft to market.

"With first flight of the PiperJet, Piper Aircraft marked the beginning of a new era by literally taking flight into a whole new realm of large-cabin luxury, performance, capability and single-engine efficiencies," said Bass. "The PiperJet speaks to our future -- one that is built on a strong and lasting heritage and reputation for innovation and excellence."

Bass termed Piper's achievements during the past three years as an index of the company's success, and key to its rejuvenation since a hurricane nearly leveled the company in 2004.

"We are... a new company fueled by a venerable heritage," he said. "We know where we've been and what milestones we have accomplished. And we know where we're going. We truly are the inheritors of a great legacy, and we are inspired by the knowledge that our best days are ahead of us."

Aero-TV Has An Upbeat Piper Overview From NBAA 2008 (Part Two)

FMI: www.piper.com, www.aero-tv.net, www.youtube.com/aerotvnetwork, http://twitter.com/AeroNews

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