Textron Inc. (NYSE: TXT) today reported that its Cessna Aircraft business yielded strong customer orders and new business opportunities resulting from products announced and/or showcased at the National Business Aviation Association (NBAA) convention, held this week in Orlando, Florida.
In total, Cessna received 115 jet orders worth more than $1 billion and expects that these agreements will be finalized and enter backlog. Combined with pre-show agreements, the company has already booked over 160 orders for the fourth quarter.
“Results from this year’s NBAA show are nothing short of impressive,” said Lewis B. Campbell, Textron’s Chairman, President and CEO. “Not only did Textron businesses capture attention with significant news and product announcements, but order intake was notable. These types of results wouldn’t be possible without having a strong customer focus, which have earned both Cessna and Bell high customer service accolades in their respective categories in top industry surveys, including ProPilot Magazine.”
During the show, Cessna unveiled its newest business jet, the Citation CJ4, an extension of the popular Citation line. The CJ4 will offer the strongest performance and payload balance in the Citation CJ series, is configurable for seven to eight passengers in the main cabin and expected to have a cruise speed of 500 miles per hour (435 KTAS). So far, the company has booked 101 CJ4 orders, 25 of which were entered into backlog in the third quarter.
In addition, Cessna displayed its concept mockup of a large cabin business jet and is gathering feedback from customers as part of an overall assessment of the attractiveness and feasibility of developing a jet larger than its current offerings.
Bell Helicopter also showed great success with aircraft orders across its commercial helicopter line, including the 429 and 430 models, and booked 10 new aircraft orders and expects that these agreements will be finalized. The light twin Bell 429 flies farther with more payload than anything else in its class and features the largest open cabin, accommodating two litters and EMS personnel. The world-class Bell 430 seats nine and has a maximum cruise speed of 160 miles per hour (143 KTAS).
In addition to Cessna and Bell’s distinguished presence at NBAA, both Cessna Finance Corporation, a subsidiary of Textron Financial Corporation, and E-Z-GO shared in the show’s success. Cessna Finance Corporation, the global leader in general aviation finance, has financed more than 180,000 fixed wing and rotorcraft aircraft throughout the world and provided financing options to potential customers.
E-Z-GO, manufacturer of the number one selling golf car in the world and a leading provider of industrial, turf and utility vehicles, showcased its efficient and dependable transport vehicles that are utilized for moving passengers, hauling cargo or transporting luggage in the private, commercial and military sectors.
Based on unit sales, Cessna Aircraft Company is the world's largest manufacturer of general aviation airplanes. In 2005, Cessna delivered 1,157 aircraft and reported revenues of about $3.5 billion. Since the company was originally established in 1927, more than 187,000 Cessna airplanes have been delivered to nearly every country in the world. The global fleet of more than 4,500 Citations is the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.cessna.com.
Bell Helicopter is an industry leading producer of commercial and military, manned and unmanned vertical lift aircraft and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for world-class customer service, innovation and superior quality, Bell’s global workforce serves customers flying Bell aircraft in more than 120 countries. More information about Bell Helicopter is available at www.bellhelicopter.com.
Textron Inc. is a $10 billion multi-industry company operating in 33 countries with approximately 37,000 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, Jacobsen, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at www.textron.com.
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