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.
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)
Bombardier Inc. agreed to sell its Flexjet aircraft flight-share unit to a U.S. buyer who will order business jets valued at a minimum of $1.8 billion from the Montreal-based maker of planes and trains.