Textron Inc. plans to cut 700 jobs at its Cessna plane division, representing about 8.3 percent of the unit’s workforce, as the aircraft maker reduces production further because demand hasn’t yet picked up after the recession.
The family of Gulfstream corporate jets, like the one that crashed last week killing sports- franchise mogul Lewis Katz, had an accident rate of less than half its peer group as investigators now try to determine how the plane skidded off a runway at a Massachusetts airport.
Hong Kong's Business Aviation Centre is opening a much-needed third hangar for private business jets, as the booming China economy drives more movements of planes in the region. The Chinese government has identified aviation as a potential economic driver and is promising to reform the lagging infrastructure in that sector. Rosalind Chin reports. (Source: Bloomberg)