Cessna Announces ProAdvantage Program for Cessna Caravan Customers

July 23, 2012

Oshkosh, WI - Jul 23, 2012 - Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, announced today that is has extended its industry-leading ProAdvantage programs to its current production Cessna Caravan product line, including the newly announced Cessna Grand Caravan EX.

The ProAdvantage family of programs is a managed cost of operations solution, which assists customers in managing their long-term costs for maintenance coverage. The programs offer simplified billing processes based on annual utilization. Parts are ordered directly from Cessna or a Cessna Authorized Facility and parts usage claims are filed by the customer or service facility. ProAdvantage customers may obtain Original Equipment Manufacturer (OEM) quality parts through a predictable budgeting process and may enhance the resale value of their aircraft.

Cessna's Caravan ProParts program is available as part of the ProAdvantage family of programs. The ProParts program covers all airframe system and avionics parts, including wheels, brakes, valves, motors, actuators, gauges, instruments and the propeller. It also covers scheduled and unscheduled maintenance events, all mechanical components on the airframe and the entire avionics suite. An option is also available to cover the TKS ice protection system.

"Cessna continues to be among the industry leaders in terms of parts cost and availability," said Lannie O'Bannion, Cessna business leader for the Caravan. "Extending the ProParts ProAdvantage programs to our Cessna Caravan product line provides our Caravan customers peace of mind relative to managing their direct operating costs while simplifying the billing and budgeting process."

The Caravan ProAdvantage contract is available for three years or 1,200 hours, with a minimum requirement of 100 hours per year.


Lannie O'Bannion, Cessna Business Leader for the Caravan

Cessna's Grand Caravan

About Cessna
Cessna is the world's leading general aviation company. Since its inception in 1927, Cessna has designed, produced and delivered more than 193,500 airplanes around the globe. This includes more than 6,300 Citation business jets, making it the largest fleet of business jets in the world. Today, Cessna has two principal lines of business: aircraft sales and aftermarket services. Aircraft sales include Citation business jets, Caravan single-engine utility turboprops, single-engine piston aircraft and lift solutions by CitationAir. Aftermarket services include parts, maintenance, inspection and repair services. In 2011, Cessna delivered 689 aircraft, including 183 Citation business jets, and reported revenues of $2.990 billion. More information about Cessna Aircraft Company is available at cessna.com.

About Textron
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 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 worldwide economic or political conditions that impact demand for our products, interest rates or foreign exchange rates; changes in government regulations or policies on the export and import of commercial products; the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; performance issues with key suppliers, subcontractors or business partners; difficult conditions in the financial markets which may adversely impact our customers' ability to fund or finance purchases of our products; and continued volatility in the economy resulting in a prolonged downturn in the markets in which we do business.

Contacts

Contact: Andy Woodward
Cell: +1 316 641 3579
Email: awoodward@cessna.textron.com

Contact: Sara Monger
Phone: +1 316 517 6488
Email: semonger@cessna.textron.com

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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