GULFSTREAM G550 and G500 BUSINESS JETS RECEIVE TYPE CERTIFICATE VALIDATION FROM KOREAN CIVIL AVIATION
SAFETY AUTHORITY
Approval Reflects Growing International Demand for Gulfstream Aircraft
SAVANNAH, Ga., April 24, 2008 – Gulfstream Aerospace, a wholly owned subsidiary of General Dynamics (NYSE:GD), recently received Type Certificate Validation for its ultra-long-range Gulfstream G550 business-jet aircraft from the Civil Aviation Safety Authority in the Republic of Korea. With this certificate validation, operators of both the large-cabin, ultra-long-range G550 and G500 can register their aircraft in that country.
“The G500 and the G550 are capable of traveling between 5,800 and 6,750 nonstop nautical miles at speeds of 0.80 Mach and can reach high speed cruise at 0.85 Mach, making them ideal business jets for international travel,” said Joe Lombardo, president, Gulfstream. “This certification makes those aircraft even more appealing, especially to Korean-based aircraft owners and operators who may have considered a G550 or G500 in the past.”
The certificate validation results from the rising demand for Gulfstream aircraft outside the United States. Historically, Gulfstream sold the majority of its aircraft to North American-based operators. In 2007, Gulfstream sold 53 percent of its aircraft internationally, with the remaining 47 percent sold in North America. That same year, North American sales increased 30 percent over the previous year.
The Middle East, Europe, India and Asia-Pacific markets continue to show significant growth. As of Dec. 31, 2007, there were 74 Gulfstream aircraft operating in the Asia-Pacific region, up from 37 two years earlier.
The in-service G550/G500 fleet numbered some 172 aircraft as of March 31, 2008, and has a 12-month dispatch reliability rate of 99.84 percent. In addition, the G550 has established close to 40 city-pair speed records. The most notable is a 14.5-hour, 7,301-nautical-mile nonstop flight from Seoul, South Korea, to Orlando, Fla., on Oct. 3, 2003. That flight took place less than two weeks after the aircraft entered service.
NOTE TO EDITORS
Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets, services and supports the world's most technologically advanced business-jet aircraft. Gulfstream has produced some 1,600 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the wide-cabin, high-speed Gulfstream G150®; the large-cabin, mid-range Gulfstream G200®; the large-cabin, mid-range Gulfstream G350®; the large-cabin, long-range G450®; the large-cabin, ultra-long-range Gulfstream G500® and the large-cabin, ultra-long-range Gulfstream G550®. Gulfstream also offers aircraft ownership services via Gulfstream Financial Services Division and Gulfstream Pre-Owned Aircraft Sales®. The company employs more than 9,100 people at seven major locations. We invite you to visit our Web site for more information and photos of Gulfstream aircraft at www.gulfstream.com.
General Dynamics, headquartered in Falls Church, Va., employs approximately 84,000 people worldwide and reported 2007 revenues of $27.2 billion. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com.