Cessna Discusses Business Jet Market Outlook at 65th NBAA Annual Meeting and Convention
Scott A. Ernest, President & CEO of Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, will discuss the company's business jet market outlook and provide updates on Cessna during the 65th NBAA Annual Meeting and Convention taking place in Orlando, Florida.
Ernest said, “Although we remain very much in a spot market with considerable uncertainty, we believe Cessna can achieve a modest uptick in deliveries of Citation business jets this year. Looking forward, given softness in global economic markets and political and budget uncertainties in the United States, it appears that global demand for business jets will be challenging again next year.”
“Nonetheless, we believe that the business jet market is a very attractive market with excellent long term growth potential,” Ernest continued. “As a result, we continue to invest in new and upgraded products such as our new M2, Sovereign and Citation X models, all of which are scheduled for roll-out in 2013, plus the new Latitude and Longitude business jets, planned for introduction in 2015 and 2017.”
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.
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; the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; 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; difficult conditions in the financial markets which may adversely impact our customers' ability to fund or finance purchases of our products; and volatility in the global economy resulting in demand softness or volatility in the markets in which we do business.
Doug Wilburne, 401-457-2288
Justin Bourdon, 401-457-2288
Dave Sylvestre, 401-457-2362