Textron's Cessna Highlights Largest-Ever Product Line at NBAA

October 05, 2008

Orlando, FL - October 5, 2008 - Cessna Aircraft Company, the world's leading general aviation aircraft manufacturer and a Textron Inc. (NYSE: TXT) company, is bringing its largest-ever product line to the 61st National Business Aviation Association Meeting (NBAA) and Convention at Orange County Convention Center.

While the current economic environment has led to a slowing in order rates, Cessna expects to post the second strongest business jet order year in its history, following last year's record of over 770 business jet orders. Cessna's broad and comprehensive product line, value proposition, world-class service and support network, and developing global markets are expected to support continued new aircraft demand, even in the midst of the current economic slowdown.

Since NBAA 2007, Cessna has made significant additions and upgrades to its line of single-engine pistons, turboprops and Citation business jets. There are currently eight single-engine models and one in development; four Caravan models; and eight Citation models in production with two in the development process.

In addition to new aircraft development from the bottom to the top of the product range, Cessna has added the high-performance, composite Cessna 350 and 400 single-engine pistons. The all-new SkyCatcher light sport aircraft, announced last year, is well into the flight and static testing phase.

Cessna launched its largest aircraft - the large-cabin, intercontinental Citation Columbus - in January and the product has been very well received by customers. The company is aggressively moving the program through the design stage, and will break ground within the month on a new Columbus plant in Wichita, Kan., that will house engineering, final assembly and more than 1,000 new direct employees. Also in the past year:

 

  • Cessna certified the Citation XLS+ and the Garmin G1000-equipped Caravan.


  • Cessna furthered the development and certification testing of its Citation CJ4 - an upward extension of the single-pilot-certified CJ family. The first production CJ4 took its first flight on Aug. 19 and the program remains on schedule.

 

"This is the optimal time to have the broadest range in the industry. With our products, you can learn to fly in a Cessna SkyCatcher or fly transcontinental in the Citation Columbus, and any mission in-between," Cessna Chairman, President and Chief Executive Officer Jack J. Pelton said. "We're fortunate that Textron supports our growth strategy as we invest in keeping Cessna products tuned to market demand. With the pace of new orders through three quarters, we're happy with how the market is responding to our largest-ever product line."

Cessna's static display at Orlando Executive Airport is scheduled to show the company's full range of Citation business jets, including the first production Citation CJ4, a new Citation XLS+ and the successful Citation Mustang. A Grand Caravan, Cessna 400 and T182 Turbo Skylane also will be shown. The display will include several Value Plus previously owned Citations: a Citation Ultra, Citation Excel, Citation Sovereign and Citation X.

The highlights of the company's convention center exhibit will be a completely new interior mock-up of the Citation Columbus and new CJ4 cabin mock-up. The new Columbus mock-up is the result of customer input to Cessna's global tour of the original mock-up displayed at last year's NBAA convention.

In order to be closer and more responsive to the customer, Cessna develops its own interior configurations using in-house design experts as part of the core customer team working with both the sales group and aircraft designers.

Cessna will host two press conferences during the show at the Orange County Convention Center: Sunday, Oct. 5 at 11 a.m. in Room 1 (N220A) and Sunday, Oct. 5 at 3 p.m. in Room 1 (N220A). Slides from Mr. Pelton's Oct. 6 presentation to analysts in attendance at NBAA discussing Cessna's business strategies and developments will concurrently be posted on Textron's investor relations website at www.textron.com.

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 $16 billion through June 30, 2008. Since the company was originally established in 1927, some 191,000 Cessna airplanes have been delivered around the world, including more than 5,400 Citations, making it 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, defense and intelligence, 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.

Connect with Textron IR

Eric Salander, Vice President, Investor Relations
(401) 457-2288
Cameron Vollmuth, Manager,
Investor Relations (401) 457-2288

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