Cessna Discusses Business Jet Market Outlook at 65th NBAA Annual Meeting and
PROVIDENCE, R.I. -- October 29, 2012
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 65^th 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
“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
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