News

Despite recession Gulfstream continues expansion

Amidst an economic crisis, Gulfstream has decided to pursue plans to expand their corporate jet line. This decision comes as a surprise, because the economic conditions have slowed down orders causing other aircraft manufacturers to defer and delay expansions.

Gulfstream has seen a slowdown in sales, particularly in midsize cabins. This is directly rooted to buyers who have problems in financing. “So we are cautious in our activities,” asserted Gulfstream spokesperson Robert Baugniet. He continued “We’re still hiring people but we’re doing it carefully.”

Gulfstream has one of the most “promising” private jet models in the industry. Aerospace consultant Richard Aboulafia said that the G650 has some of the most advanced designs of its time. “So they’re wisely getting that going in preparation for the next upturn,” Aboulafia said. “If you accept that wealth generation will return, the need for transport will return, globalization will return.”

Despite the economic downturn, Gulfstream is confident with its decision to pursue expansion. “The reasons for people buying business jets have not changed and that is safe, reliable, efficient transportation to get from A to B to do your work,” Baugniet said. “You could paint a picture that it’s extravagant. You could also paint a picture that it’s a very effective way of moving senior people around the country.”

The key here is to pool the resources in the right direction. This way, the effects of the economic crisis will be minimized and profit will be maximized.