Piper Aircraft Inc. grew its overall billings, and total deliveries of its banner Meridian, Matrix and Mirage single-engine aircraft series, during the first six months of 2011, ended June 30. The company recorded $57,300,885 in new aircraft billings over the first six months of the year, up nearly 16 percent from the first six months in 2010, when billings were $49,497,851. In the first six months of 2011, Piper delivered 38 M-Class aircraft: 14 turboprop Meridians and 24 piston-powered Matrixes and Mirages, compared with 36 total M-Class aircraft during the first six months of 2010.
The 14 flagship Meridian turboprop deliveries were up from eight in the same period during 2010. Second quarter 2011 new aircraft billings were also up, totaling $31,141,182, a more than 3 percent increase compared with $31,039,320 in the same period a year ago.
Piper Aircraft Meeting Growth Plan
“The company continued to achieve our internal financial and delivery targets in the first half of 2011,” said Piper President & CEO Geoffrey Berger. “Our efforts to align cost structure to delivery volume have resulted in better comparative performance year over year,” he added.
“At the same time, Piper is making enormously significant investments for the future in bringing the PiperJet Altaire to production.” The company’s overall first half 2011 performance continued a positive trend established during 2010 when Piper significantly increased new aircraft market share, billings and deliveries.