Lakeland, FL - April 8, 2008 - Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, announced today at the Sun 'n Fun Fly-In in Lakeland, Fla., that it has surpassed 500 orders for the Citation Mustang entry level business jet.
"We were confident that once our customers started flying the Citation Mustang we'd have very happy owners and accelerated orders. The response from the global market has been nothing short of exceptional," said Roger Whyte, senior vice president, Sales and Marketing, at Cessna. "The Mustang is now certified in 47 countries, and the fleet of approximately 60 aircraft has accumulated more than 10,500 hours so far. Customers are extremely pleased with the airplane, the only fully operational entry level business jet available."
Cessna delivered the first retail Citation Mustang to Dave and Dawn Goode of GOODE Ski Technologies on April 23, 2007, and finished the year with 45 delivered. From Cessna's facility in Independence, Kan., the company expects to deliver 100 Mustangs by the end of 2008 and reach its targeted full production rate of about 150 aircraft per year by the end of 2009.
The six-place Citation Mustang has a top speed of 340 knots, a range of 1,150 nautical miles (with NBAA IFR Reserves) and a service ceiling of 41,000 feet, enabling more efficient operations above most weather and commercial traffic.
The aircraft features a fully functional Garmin G1000 system that includes two 10-inch primary flight displays and one 15-inch multi-function display. Included in the system is the integrated GFC700 dual-channel, fail passive, digital autopilot. The Mustang was the first aircraft certified to take advantage of WAAS navigation features including WAAS LPV approaches that provide both lateral and vertical guidance. Garmin's G1000 avionics suite also includes SafeTaxi, which gives a graphical representation of the aircraft in the airport environment.
About Cessna Aircraft Company
Based on unit sales, Cessna Aircraft Company is the world's largest manufacturer of general aviation airplanes. In 2007, Cessna delivered 1,272 aircraft, including 387 Citation business jets, and reported revenues of about $5 billion. Cessna has a current backlog of $12.6 billion. Since the company was originally established in 1927, some 190,000 Cessna airplanes have been delivered to nearly every country in the world. The global fleet of more than 5,100 Citations is the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.cessna.com.
About Textron Inc.
Textron Inc. is a $13.2 billion multi-industry company operating in 34 countries with approximately 44,000 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 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 cancellation 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; and (h) bankruptcy or other financial problems at major suppliers that could cause disruptions in our supply chain.