News Releases
Cessna Remains Cautiously Optimistic About Piston Rebound
FRIEDRICHSHAFEN, Germany, April 8, 2010 - Officials at Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, remain optimistic, but cautious about the predicted rebound in general aviation’s piston segment.
“We see a number of indications that the general economy may be stabilizing and that should eventually translate into a return to growth in the piston market,” said John Doman, vice president, Worldwide Propeller Aircraft Sales. “The good news is that we would expect the piston segment of the general aviation market – the aircraft represented at AERO Friedrichshafen – to be the first to recover and lead the way.”
Despite delivering fewer piston aircraft in 2009 than in years past, Cessna still led the industry in overall piston aircraft deliveries (354) as well as in deliveries of four-seat pistons (305), where the company offers six models ranging from the 172 Skyhawk, the best selling civil aircraft in history, to the speedy 400 Corvalis TT, one of the world’s fastest fixed-gear piston singles.
Cessna has seen increased activity from flight schools, flight academies, military training programs, airlines and universities for training aircraft, particularly the 172 Skyhawk. Citation business jets are also gaining popularity among airlines both for training and for VIP transportation.
Like many industry analysts, Cessna expects the general economy to gradually strengthen, leading to a rebound in general aviation sales, though substantial growth is not expected before mid-2011.
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Cessna is the world’s leading general aviation company, based on unit sales, with five major lines of business: Citation business jets, Caravan single-engine turboprops, Cessna single-engine piston aircraft, aftermarket services and lift solutions by CitationAir. In 2009, Cessna delivered 754 aircraft, including 289 Citation business jets, and reported revenues of about $3.3 billion. Since the company was originally established in 1927, more than 192,000 Cessna airplanes have been delivered around the world, including more than 6,000 Citations, making it the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.cessna.com.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.
Forward-looking Information: Certain statements in this release are forward-looking statements and speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including but not limited to the following: [a] changes in worldwide economic and political conditions that impact demand for our products, interest rates and foreign exchange rates; [b] the interruption of production at our facilities or at our suppliers’ facilities; [c] the timing of new product launches and certifications of new aircraft products; [d] the occurrence of slowdowns or downturns in customer markets in which our products are sold or supplied; [e] changes in aircraft delivery schedules or cancellations or deferrals of orders; [f] the launching of significant new products or programs which could result in unanticipated expenses; [g] changes in national or international government policies on the export and import of commercial products; [h] bankruptcy or other financial or performance problems at major suppliers or subcontractors that could cause disruptions in our supply chain; [i] continued difficult conditions in the financial markets resulting in adverse impacts to our customers, including difficulty in obtaining financing for the purchase of our products; and [j] continued volatility in the economy resulting in a prolonged downturn in the business jet market.
