Rockwell Collins forecast not a strong one for BizJet market
Rockwell Collins Inc. on Friday said it expected its corporate jet business to shrink over the next year, marking another setback in the sector's sluggish recovery from the financial crisis in seven years ago.
The weakness in sales of smaller business jets has spread in recent months to larger planes, and flight activity has stalled in many markets, with U.S. domestic operations offering one of the few pockets of growth.
Rockwell Collins, which makes avionics, communications systems and other parts for business jets, said it expected a mid-single-digit decline in sales to the sector in its fiscal year to Sept. 30, 2016, from a year earlier. The company’s 2016 financial guidance also fell short of analysts’ expectations. | READ MORE