How is Piper Aircraft doing business wise?

Hi guys, just out of curiosity I'm wondering how Piper are doing as a business recently. I know that the Brunei investment agency bought into the company a couple of years ago so was wondering how well their doing or not.....

Thanks

 

The have stopped the single engine jet project and laid off people. Doesn't sound like indications of good health.

Jeff

 

Yeah I read that too. I think something funny went on in the background.... Apparently when the sale went thru someone made a $31million profit!!

Thanks Jeff

 

Piper's opinion.

http://www.aviationweek.com/aw/generic/story_channel.jsp?channel=busav&id=news/awx/2011/11/08/awx_11_08_2011_p0-391513.xml&headline=Piper%20Tops%20Piston,%20Turboprop%20Performance

 

Although they put a real good PR spin with this article I continue to believe that there have to be issues or at least dissention on corporate direction. The press has reported managment changes and I believe that the jet program cancellation after working on it for several years are both indicative of something.

Jeff

 

the VLJ market got really crowded really fast, and for the most part those planes aren't significantly better than similarly-priced turboprops; a number of competitors have already gone under. Honda and Cessna/Citation can weather the storm, the smaller players can't. I think getting out of that market was a wise decision. maybe they will re-enter the market when the dust settles.

no idea on the management changes, I haven't followed that.

 

Cancellation of the program might be prudent but not after what must be 3 years of work.

Jeff