Cessna’s Pelton: “Glass is Half Full”

May 12, 2009
Geneva, Switzerland - May 12, 2009 - Cessna Chairman, President and CEO Jack J. Pelton said today the current meltdown in business aviation activity, while the most profound in many years, is best kept in perspective when discussing the global role of business aviation and of Cessna. Cessna Aircraft Company is a Textron Inc. (NYSE:TXT) company.

“Rather than focus on what we aren’t producing, Cessnans have chosen to focus on what we are producing. It is true that we will not produce at the levels anticipated a year ago, but we are going to deliver about 300 Citations in 2009, slightly fewer than in 2010, and these are numbers that in years past would have been cause for celebration,” Pelton said. “We will spend about the same percentage of revenue in 2009 on new product and new feature development, and we will spend it on satisfying customer requirements for existing products in existing markets. We will continue to improve our global customer service network – already second to none in the industry – and make it even more responsive to the customer.”

Pelton’s comments came on the opening day of the annual European Business Aviation Convention and Exhibition (EBACE) in Geneva.

Cessna delivered more business jets and more propeller aircraft in the first three months of 2009 than any other company, according to figures just released by the U.S. General Aviation Manufacturers Association. Cessna delivered 69 Citations and 66 propeller aircraft (piston and turboprop) in the first quarter and reported revenues of $769 million.

“We have an 80-year tradition, we have a loyal customer base, and, while we have lost many good employees since November, we still have some of the industry’s top people making up the Cessna family,” Pelton continued.

At EBACE, Cessna expects to make a number of news announcements including new initiatives in customer service and several program updates.

Cessna brings to EBACE a full line of Citations as well as two of its more popular propeller aircraft. On static display are the Citation Mustang, Citation CJ1+, CJ2+ and CJ3, Citation Excel and XLS+, Citation Sovereign and Citation X. Cessna is also exhibiting its Grand Caravan (208) and Cessna 400 Corvalis TT, recently certified by EASA for operations in Europe.

About Cessna Aircraft Company
Based on unit sales, Cessna Aircraft Company is the world's largest manufacturer of general aviation airplanes. In 2008, Cessna delivered 1,301 aircraft, including 467 Citation business jets, and reported revenues of about $5.662 billion. Cessna has a backlog of $13 billion as of March 31, 2009. Since the company was originally established in 1927, some 192,000 Cessna airplanes have been delivered around the world, including more than 5,700 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 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 Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. 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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