BOSTON (TheStreet) -- Cirrus Aircraft is known to many as making private airplanes equipped with a built-in parachute to guide the cabin down in the event of a mishap.
Unfortunately, that safety feature could do little for a freefalling economy.
"It has been a massive change for us as a company and for the industry as a whole," says Cirrus CEO Brent Wouters of current economic realities. "I see the lower unit volumes that we are all experiencing, the reticence of consumers or businesses to buy airplanes, and isn't about to switch back. This is a long-term problem. Even in my five-year projection, I don't see the business returning to the level that it was in 2007."
It won't be for lack of trying. The company's newest product, the SR22-T, is said to be its quietest, among the fastest and a leader in alternative fuel capabilities and GPS equipment that makes it easier and safer to fly.Earlier this month, the General Aviation Manufacturers Association released the industry's second-quarter shipment and billings figures. In the first half of this year, total general aviation airplane shipments fell 9.8%, from 1,039 units last year. By comparison, during the first half of last year, shipments fell 45.9%.
|As it recovers from the lessened demand for private aircraft, Cirrus Aircraft is looking to generate industry buzz with the recent debut of the Cirrus SR22-T.|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV