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Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company,
announced today that it will increase production of its Citation X
business jet over the next five years.
"Orders for the Citation X have been increasing and, as a result,
we will be increasing production more than 65 percent from 2006 to
2010 to meet the growing demand for this popular aircraft," said Roger
Whyte, senior vice president of sales and marketing. "The exceptional
speed, reliability and cabin comfort offered by the X have contributed
to its great success."
More than 260 Citation Xs have been delivered to customers around
the world and the backlog for the aircraft extends well into 2008. The
fleet has amassed almost 1 million flight hours over its 10-year
history. With a top speed of .92 Mach, the Citation X is not only the
world's fastest business jet but the fastest civil aircraft flying
today.
Cessna Aircraft Company delivered 1,239 aircraft in 2006,
maintaining its leadership position as the world's largest
manufacturer of general aviation aircraft. Of that total, Cessna
delivered 307 business jets, more than any other manufacturer, and
expects to deliver 375 jets in 2007.
"Our traditionally strong U.S. market will remain so in the near
future, but the business jet market outside the U.S. continues to
grow," Whyte said. "As an example, business jet orders outside the
U.S. accounted for 48 percent of our total orders last year."
Cessna's revenues for 2006 were $4.2 billion, up from $3.5 billion
a year ago.
Based on unit sales, Cessna Aircraft Company is the world's
largest manufacturer of general aviation airplanes. In 2006, Cessna
delivered 1,239 aircraft, including 307 Citation business jets, and
reported revenues of about $4.2 billion and a backlog of $8.5 billion.
Since the company was originally established in 1927, more than
189,000 Cessna airplanes have been delivered to nearly every country
in the world. The global fleet of almost 5,000 Citations is the
largest fleet of business jets in the world. More information about
Cessna Aircraft Company is available at www.cessna.com.
Textron Inc. is an $11 billion multi-industry company operating in
32 countries with approximately 40,000 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 Company, Jacobsen, Kautex,
Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron
Financial Corporation. More information is available at
www.textron.com.
Forward-looking Information: Certain statements in this report 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 Textron facilities or Textron's customers or suppliers; (c) the
occurrence of slowdowns or downturns in customer markets in which
Textron products are sold or supplied or where Textron Financial
offers financing; and (d) changes in aircraft delivery schedules or
cancellation of orders.
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