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4-Traders Homepage  >  Equities  >  Nasdaq  >  Goodyear Tire & Rubber Co    GT

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Goodyear Tire & Rubber : Reveals Plans for Arrival of Next Generation Blimp in 2017

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02/24/2017 | 01:15pm CET

By a News Reporter-Staff News Editor at Journal of Transportation -- - The Goodyear Tire & Rubber Company (NASDAQ: GT) today revealed plans for major facilities upgrades at its Airship Operations base in Carson, renewing its commitment to the Goodyear Blimp's presence in the Los Angeles area.

The improvements will include an inflatable hangar for the new Goodyear Blimp Wingfoot Two, which is scheduled to arrive in Southern California by the end of the year. The company has flown its iconic blimps for more than 90 years and has operated its base in Carson since 1968.

Since 2014, Goodyear has been transitioning from its 1970's-era GZ model blimps to a new state-of-the-art fleet of blimps. The new blimps feature an entirely new design with capabilities including faster speeds, quieter engines, advanced on-board avionics and larger passenger capacity. Wingfoot One (christened in 2014) and Wingfoot Two (2016), currently operate in Florida and Ohio. Wingfoot Two will replace the Spirit of Innovation (2006), which is scheduled to retire in March.

"At Goodyear, we honor tradition and drive toward innovation," said Paul Fitzhenry, senior vice president, Global Communications. "We are proud to usher in this new era of our world-renowned brand icon and look forward to operating the new blimp in our Carson base."

New Facilities to Meet Needs of Modern Blimp

The new hangar will be the first on the Carson airship base, which Goodyear opened in 1968. The hangar will be built out of 73 miles of partially translucent polyester fabric and will be almost nine-stories tall and longer than a football field. Construction of the hangar is expected to be completed in seven months and erected on the property in July.

Additional facilities updates will include an enlarged mooring circle for ground handling, a new masting system, plus a new maintenance building.

Keywords for this news article include: The Goodyear Tire & Rubber Company.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC

(c) 2017 NewsRx LLC, source Business Newsletters

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Financials ($)
Sales 2017 16 189 M
EBIT 2017 1 816 M
Net income 2017 981 M
Debt 2017 4 286 M
Yield 2017 1,06%
P/E ratio 2017 9,13
P/E ratio 2018 7,04
EV / Sales 2017 0,81x
EV / Sales 2018 0,77x
Capitalization 8 898 M
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 36,8 $
Spread / Average Target 4,0%
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Richard J. Kramer Chairman, President & Chief Executive Officer
Laura K. Thompson Chief Financial Officer & Executive Vice President
Joseph Zekoski Chief Technical Officer & SVP-Global Operations
Thomas H. Weidemeyer Independent Director
Michael R. Wessel Director
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