Wichita, KS - March 7, 2007 - Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, announced today that it will increase production of its Citation X business jet over the next five years.
"Orders for the Citation X have been increasing and, as a result, we will be increasing production more than 65 percent from 2006 to 2010 to meet the growing demand for this popular aircraft," said Roger Whyte, senior vice president of sales and marketing. "The exceptional speed, reliability and cabin comfort offered by the X have contributed to its great success."
More than 260 Citation Xs have been delivered to customers around the world and the backlog for the aircraft extends well into 2008. The fleet has amassed almost 1 million flight hours over its 10-year history. With a top speed of .92 Mach, the Citation X is not only the world's fastest business jet but the fastest civil aircraft flying today.
Cessna Aircraft Company delivered 1,239 aircraft in 2006, maintaining its leadership position as the world's largest manufacturer of general aviation aircraft. Of that total, Cessna delivered 307 business jets, more than any other manufacturer, and expects to deliver 375 jets in 2007.
"Our traditionally strong U.S. market will remain so in the near future, but the business jet market outside the U.S. continues to grow," Whyte said. "As an example, business jet orders outside the U.S. accounted for 48 percent of our total orders last year."
Cessna's revenues for 2006 were $4.2 billion, up from $3.5 billion a year ago.
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 almost 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.