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Rockwell Collins sees tough year for business jet market
Abu Dhabi: Rockwell Collins Inc is forecasting a double digit decline in its corporate jet business this fiscal as uncertainty in China, Russia and Brazil weighs on buyer confidence. The business jet market has struggled to rebound since the 2008 Global Financial Crisis and concerns over a slowdown in China and depressed Russian and Brazilian economies is further dampening confidence. “We’re expecting our business aviation production to be down for our equipment [by] over 10 per cent this fiscal,” Rockwell Collins Chairman, President and Chief Executive Kelly Ortberg told Gulf News in an interview at the Global Aerospace Summit in Abu Dhabi this week. Kelly did not say how this would effect revenue but said he believed production would stay at modest levels for “at least a year or so”. United States-based Rockwell Collins makes avionics, communication systems and other parts used in business jets. Its financial year ends September 30, 2016. Alexander Cornwell, Staff Reporter Back to other news