Wichita, KS - May 31, 2007 - Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, announced today that it took commitments for 40 Citation business jets at last week's European Business Aviation Convention & Exhibition (EBACE) in Geneva.
The 40 commitments include an order for the purchase of 25 Citation business jets received from JetAlliance, as announced on May 24. Cessna expects deposits to firm all 40 orders by the end of June. Cessna also took orders for three Caravans and one Model 206 Stationair single engine piston aircraft.
"The tremendous inflow of business we saw at EBACE is indicative of the strength of the market in Europe, particularly in Eastern Europe," said Roger Whyte, Cessna senior vice president, Sales & Marketing. "We saw interest, and took orders, throughout the range of business jets - from the Citation Mustang to the Citation X. This show continues to grow, and continues to bring in people who want to buy airplanes."
Whyte said the international market continues to expand, growing to almost half of Cessna's 2006 worldwide deliveries, up from levels of around 25 to 30 percent just a few years ago.
"To mirror this growth, we have been expanding our sales force and our support network across Europe," Whyte said. "We think the business jet is really proving its worth in the market throughout Europe and the Middle East. The range of Cessna products available to meet the demand, coupled with our ubiquitous support network, equals a tremendous value for our customers."
As a sign of the increased focus by the company on Europe, Cessna is expanding its presence this year at the Paris Air Show at Bourget scheduled for next month. Cessna will exhibit Citation CJ2+, Citation Encore+, Citation XLS, and Citation Sovereign business jets, a Grand Caravan, a 206 Stationair and 172 Skyhawk single engine piston aircraft, and a full-size cabin mock-up of its proposed Large Cabin Concept long-range business jet. Cessna will be co-exhibiting at the Paris Air Show with fellow-Textron companies Bell Helicopter, Textron Systems and E-Z-GO.
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.