AVIC Joy Air Holdings orders 20 Cessna Grand Caravan EX Amphibian aircraft

July 20, 2015

OSHKOSH, Wis. (July 20, 2015) – Cessna Aircraft Company, a subsidiary of Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company, today announced an agreement with Zhoushan AVIC Joy Air General Air Co., Ltd. for 20 Cessna Grand Caravan EX Amphibian aircraft. The aircraft are expected to start being delivered later this year out of the company’s joint venture facility, Cessna-AVIC Aircraft (Shijiazhuang) Co., Ltd. The joint venture between Cessna and China Aviation Industry General Aircraft Company (CAIGA) assembles and delivers Caravan utility turboprop aircraft for the Chinese market.

“The availability of the Cessna Grand Caravan EX Amphibian aircraft in China has sparked a new segment in the aviation market as operators now have the ideal product to meet the demand for increased aerial sightseeing and charter tourist flights,” said Kevin Wu, vice president of Sales in the region. “Joy Air Holdings’ selection of the Cessna Grand Caravan EX Amphibian is a testament to the aircraft’s performance, comfort and reliability. The Caravan continues to be the most popular utility turboprop aircraft because of the value and reliability the aircraft brings to companies looking to grow their business, while also providing customers an exceptional flight experience and access to remote locations.”

Headquartered in Shanghai, Joy Air Holdings already owns two Grand Caravan EX Amphibians and will use the additional aircraft for commuter flights between coastal areas including Shanghai, Zhejiang, Fujian, Guangdong and Yunnan province, and also for air tours and charter flights.

About the Cessna Grand Caravan EX Amphibian

Equipped with Wipaire’s Wipline 8750 floats, the Grand Caravan EX is transformed into a versatile amphibious aircraft, allowing it to accommodate more complex flight operations in a wider range of environments. The aircraft is powered by the Pratt & Whitney Canada PT6A-140 867-horsepower turbine powerplant and is easy and economical to maintain while providing remarkable dispatch reliability. The aircraft can fly for more than 800 nautical miles (1,482 kilometers) at speeds in excess of 160 knots (296 kilometers/hour). As the largest single-engine amphibious aircraft on the market, the aircraft can accommodate seating for two pilots and up to nine passengers in a first-class interior configuration.

Celebrating 30 years of the Cessna Caravan

This year, Cessna celebrates 30 years of the Cessna Caravan and expects to deliver its 2,500th aircraft in the coming months. The fleet, which is now certified in 100 countries, has amassed more than 13 million flight hours since the aircraft was introduced in 1985. Caravans fulfill roles for multiple missions, such as aerial photography and mapping, commuter airlines and VIP transport, cargo carriers, humanitarian missions, flight training and recreation.

Web page: Visit Cessna.txtav.com/Caravan for more information about the various Caravan aircraft and their capabilities.

Images: Mr. Guirong Ji, president, Joy Air Holding Group and Bill Schultz, senior vice president, Business Development, China

Joy Air Holding Group and Textron Aviation

About Cessna-AVIC (Shijiazhuang) Co., Ltd.

Cessna-AVIC Aircraft (Shijiazhuang) Co., Ltd., a joint venture between Cessna Aircraft Company and China Aviation Industry General Aircraft Co., Ltd. (CAIGA), obtained its business license from the Ministry of Commerce in September 2013. Joint venture operations conduct final assembly of Cessna Caravans for the Chinese market including assembly, paint, testing, interior installation, customization, flight testing and delivery of the Caravan to in-country customers. The joint venture has obtained the CAAC Part 145 maintenance approval to provide company-direct maintenance to Caravan customers in China. Deliveries of aircraft by the joint venture began in December 2013.

About Textron Aviation Inc.

Textron Aviation Inc. is the leading general aviation authority and home to the iconic Beechcraft, Cessna and Hawker brands, which account for more than half of all general aviation aircraft flying. The Textron Aviation companies include Cessna Aircraft Company and Beechcraft Corporation, bringing together decades of unmatched experience in designing, building and supporting airplanes. It provides the most versatile and comprehensive general aviation product portfolio in the world through five principal lines of business: business jets, general aviation and special mission turboprop aircraft, high performance piston aircraft, military trainer and defense aircraft, and a complete global customer service organization. Its broad range of products include such best-selling aircraft as Citation and Hawker business jets, King Air and Caravan turboprops and T-6 military trainer aircraft, all of which are backed by the industry’s largest global service network. For more information, visit txtav.com.

About Textron Inc.

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, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. For more information visit: www.textron.com.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements 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 statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, changes in aircraft delivery schedules or cancellations or deferrals of orders; changes in government regulations or policies on the export and import of commercial products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates; risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries.

Connect with Textron IR

David Rosenberg, Vice President, Investor Relations
(401) 457-2288
Kyle Williams, Manager, Investor Relations
(401) 457-2288

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