Piper's deliveries and revenue rise in first quarter 2018
PUBLISHED: 09:51 27 April 2018 | UPDATED: 11:15 27 April 2018
Piper Aircraft Inc. announced today its aircraft sales and delivery results for the first quarter of 2018, ending March 31
The company continued to grow its new aircraft deliveries and revenue with the company’s flagship product, the turbine powered, M600 leading the company’s performance success.
Additionally, Piper trainer sales growth continues to be led by the proven Archer platform with sales backlog into Q3 2019.
First quarter 2018 performance showed a positive trend on the heels of a 27% growth in billings for 2017. Airplane deliveries increased more than 36% to 34 aircraft in the first quarter of 2018, up from 25 airplanes during the first quarter of 2017.
New aircraft sales revenue grew more than 77% to $41,379,227, when compared to sales of $23,383,514 during the same period the previous year. The growth in revenue reflects strong demand for M-class products with the M600 sales expanding by more than 100%.
“Our first quarter performance is a strong indicator of the demand for all Piper products across the board and continues the consistent growth in sales that we began to experience in 2016,” said Piper President and CEO Simon Caldecott.
“Our sales success is made possible by our dedicated, experienced workforce, world class /full service Dealer Partners and a stable, long term focused ownership body.”.