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Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company,
announced today at the opening of the National Business Aviation
Association annual meeting it has an order from XOJET for 30 Citation
X business jets with a retail value of more than $600 million.
XOJET is one of the largest Citation X operators in the world.
Today the XOJET's fleet consists of 12 Citations Xs which will
increase to 17 aircraft by the end of this year. The first aircraft
from the new order will deliver in Q1 2008. Deliveries are scheduled
to continue through Q4 2010 by which time XOJET will have 47 Citation
X in their fleet.
"XOJET's new private aviation model has brought significant
innovation to the table for business aviation users. It's great to
know our Citation X jets have helped the company set a winning
standard of service and performance for people who appreciate the
productivity gains the aircraft provides to them," said Cessna
chairman, president and CEO Jack Pelton. "The Citation X set new
standards in terms of speed, comfort and efficiency which remain
unmatched even 10 years after the first delivery of the model."
The Citation X is the world's fastest civil jet aircraft with a
top speed of Mach .92 and a range of more than 3,000 nautical miles.
Later this year, Cessna will deliver its 5,000th business jet to XOJET
- a Citation X put into operation at Cessna in June and on display at
the NBAA static display at Fulton County Airport, Sept 25-27.
"More and more executives are flying privately 100-200+ hours a
year, and these business travelers are seeking more flexible,
cost-effective private jet solutions," said Paul Touw, president and
CEO of XOJET. "XOJET's new model was built to give these customers a
better way to fly, and market response to our solutions has been
exceptional. Our commitment to the super-midsize jet category and the
Citation X has helped fuel our rapid growth, and we look forward to
introducing 30 new Citation X jets into our fleet."
XOJET provides private jet ownership, leasing and on-demand travel
solutions built especially for frequent business jet fliers.
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, some 190,000
Cessna airplanes have been delivered to nearly every country in the
world. The global fleet of more than 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 release
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; (d) changes in aircraft
delivery schedules or cancellation of orders; and (e) changes in
national or international government policies on the export and import
of commercial products.
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