Wichita, KS - August 7, 2007 - Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, last week reached another milestone in the development program for the latest version of the world's best-selling business jet model - the Citation XLS+ - when the aircraft completed its first flight.
The flight, which lasted one hour and 30 minutes, was conducted at Rockwell Collins' facility in Cedar Rapids, Iowa.
“With the flight progressing as planned and the aircraft performing as expected, this first flight was a great success,” said Cessna Citation XLS+ Program Manager Kevin Steinert. “The integration of the new Collins Pro Line 21 and Pratt & Whitney's FADEC (full authority digital engine control) equipped engines went smoothly and we look forward to continuing this program on schedule.”
The aircraft has returned to Cessna's primary design and manufacturing facilities in Wichita for further evaluation and testing. Type certification of the XLS+ is expected in the first quarter of 2008 and first deliveries are scheduled in mid 2008.
Priced at USD $11.595 million, the XLS+ will continue the tradition of the Excel and XLS as the most affordable stand-up cabin business jet. The family of Excel/XLS aircraft comprise of 575 planes having accumulated nearly 1.2 million flight hours.
The original Citation Excel was delivered in May 1998 followed by the Citation XLS in July 2004. The 500th Excel/XLS was delivered in June 2006, making the Excel/XLS the best-selling aircraft of all business jet models since its introduction.
The Citation XLS+ is designed to travel at 440 ktas (815 km per hour), have a range of more than 1,800 nm (3,440 km), climb direct to 45,000 ft (13,700 m) in 29 minutes, and land on runways as short as 2,700 ft (823 m) at its typical landing weight.
Based on unit sales, Cessna Aircraft Company is the world's largest manufacturer of general aviation airplanes. In 2006, Cessna delivered 1,239 aircraft, including 307 Citation business jets, and reported revenues of about $4.2 billion and a backlog of $8.5 billion. Since the company was originally established in 1927, more than 189,000 Cessna airplanes have been delivered to nearly every country in the world. The global fleet of more than 5,000 Citations is the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.cessna.com.
Textron Inc. is an $11 billion multi-industry company operating in 32 countries with approximately 40,000 employees. The company leverages its global network of aircraft, 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, Fluid & Power, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.
Forward-looking Information: Certain statements in this report 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 Textron facilities or Textron's customers or suppliers; [c] the occurrence of slowdowns or downturns in customer markets in which Textron products are sold or supplied or where Textron Financial offers financing; and [d] changes in aircraft delivery schedules or cancellation of orders.