A tornado in the Midwest struck just one hangar at the airfield where the Citation X was parked, along with an unauthorized camper. The camper found itself being used as a plus-sized baseball bat and doing its best to beat the heck out of the hapless Cessna. For some reason, the insurance company decided that the $20M jet was worth more in parts than to rebuild it.
Posts Tagged Cessna
Cessna CJ4
PROVIDENCE, R.I., Dec 17, 2009 (BUSINESS WIRE) — Textron (NYSE:TXT) today announced that its Cessna business unit continues to see stabilization in the business jet market. Cessna management has observed that availability of used aircraft is declining, customer utilization of the existing fleet has stabilized, availability of financing is improving and customer inquiries for new orders are beginning to increase.At the same time, Cessna has continued efforts with customers to clarify the status of long-term orders remaining in backlog. The company has been in discussions with a large customer concerning the cancellation of about $1.1 billion of jets it had on order with Cessna. None of these aircraft were planned for delivery through 2012.
The company expects that cancellations in the fourth quarter will reduce backlog by a total of approximately $1.7 billion. These cancellations are not expected to have a material impact on planned deliveries through 2012.
The company will provide its outlook for 2010 business jet deliveries when it releases earnings on January 28.
About Cessna
Based on unit sales, Cessna Aircraft Company is the world’s largest manufacturer of general aviation airplanes. Since the company was originally established in 1927, some 192,000 Cessna airplanes have been delivered around the world, including more than 6,000 Citations, making it the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.cessna.com
About Textron
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.
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 our facilities or at our suppliers’ facilities; [c] legislative or regulatory actions impacting our operations or demand for our products;; [d] the occurrence of slowdowns or downturns in customer markets in which our products are sold or supplied; [e] changes in aircraft delivery schedules or cancellations or deferrals of orders; [f] changes in national or international government policies on the export and import of commercial products; [g] bankruptcy or other financial or performance problems at major suppliers, subcontractors or customers that could cause disruptions in our supply chain or negatively impact our customers’ ability to purchase our products ; [h] continued difficult conditions in the financial markets which may adversely impact our customers’ ability to fund or finance purchases of our products; and [i] continued volatility in the economy resulting in a prolonged downturn in the business jet market.
SOURCE: Textron Inc.
Investor Contacts: Textron Doug Wilburne, 401-457-2288 or Bill Pitts, 401-457-2288 or Media Contacts: Cessna Doug Oliver, 316-517-1927 or Textron Michael Maynard, 401-457-2474
Cessna CJ4
Cessna announced today to close its production plant in Columbus, Georgia to Mexico. The move, scheduled to effect approximately 300 people, will take effect over the next 24 months and allow Cessna to consolidate operations in its Wichita facilities.
Text of message from Jack Pelton;
Fellow Cessnans,
Over the past few months, the general economy has exhibited some positive trends: there have been gains in the stock market, the housing market is beginning to stabilize and many economic analysts are forecasting that the economy should begin a slow recovery in 2010.
While we are encouraged by these signs, we have yet to see these trends reflected in the general aviation market, which historically lags the economy by 18 to 24 months.
To adjust to these business realities, Cessna has placed a strong focus on reducing costs, managing inventory and aligning our manufacturing facilities to meet our lower schedule projections. We have already taken several steps to reduce our capacity including closing facilities in Bend and Toledo and consolidating facilities in Columbus and in Wichita.
Although these moves have been significant, additional changes are still necessary to properly align our manufacturing capacity and costs to meet the lower demand.
To this end, we will begin to transition work from Georgia to Cessna locations in Independence and Mexico over the next 24 months, and we will then close the Columbus facility. We will be discussing the impact and options with our Columbus employees directly.
Further supporting the consolidation of Cessna facilities, we will accelerate the transition of certain sub-assembly work from Wichita to Cessna facilities in Mexico. This move will allow us to continue to consolidate our Wichita facilities and reduce our existing cost structure. This transition will also occur over the next 24 months, and we anticipate that the current production schedule along with planned CJ4 growth may provide job opportunities for some individuals whose roles are transitioning.
These actions are necessary to ensure we maintain the financial health of our company and to plan for a future in which we will continue to be challenged by emerging global competitors. We face sizable challenges, but thanks to your resolve, Cessna will emerge in a strong position ready to face the competition.
This type of news is always difficult to bring, especially during the holiday season, but I remain committed to keeping you apprised of changes impacting our coworkers and our business.
Jack
ORLANDO, Fla.–(BUSINESS WIRE)–Oct. 19, 2009– Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, comes to the 62nd National Business Aviation Association Meeting (NBAA) and Convention with optimism that the business aviation market is thawing.
“I’m far from ready to call a turnaround, but we do continue to see some encouraging developments,” said Cessna Chairman, President and Chief Executive Officer Jack J. Pelton. “Financing is more readily available, used aircraft inventory is lowering and prices for used aircraft have increased for the first time in several quarters. Average Daily Utilization figures for the Citation fleet have stopped dropping and bookings for maintenance work are on the rise. We are seeing signs of stabilization and some indicators that the business jet market is starting to move in a positive direction. Single engine retail sales have been particularly strong in recent weeks which is usually a forerunner for the rest of the product line.”
Cessna’s static display at Orlando Executive Airport features the full line of current production Citation business jets: the Citation X, Citation Sovereign, Citation XLS+, Citation Encore+, Citation CJ3, Citation CJ2+, Citation CJ1+ and a Citation Mustang. On Wednesday, Oct. 21 only, a Citation CJ4 will be on hand. An upward extension of the CJ family, the CJ4 is currently in the flight test phase of development. The exhibit also will include two ValuePlus previously owned Citations: a Citation Excel and Citation V. A Grand Caravan and Cessna Corvalis TT will be on hand to represent Cessna’s line of turboprop and single-engine piston models.
“We’re going ‘back to basics’ this year at NBAA, concentrating on exhibiting our products at the static display and not having a booth in the convention hall,” Pelton said. “We do upward of 60 events a year, and NBAA is still one of just a handful of shows that truly brings people from throughout the world to one place for business aviation. This is increasingly important as the international markets seem less frozen than our domestic market right now, particularly Western Europe and South America.”
About Cessna
Based on unit sales, Cessna Aircraft Company is the world’s largest manufacturer of general aviation airplanes. In 2008, Cessna delivered 1,301 aircraft, including 467 Citation business jets, and reported revenues of about $5.662 billion. Since the company was originally established in 1927, some 192,000 Cessna airplanes have been delivered around the world, including more than 6,000 Citations, making it the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.cessna.com.
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.
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 our facilities or at our suppliers’ facilities; [c] the timing of new product launches and certifications of new aircraft products; [d] the occurrence of slowdowns or downturns in customer markets in which our products are sold or supplied; [e] changes in aircraft delivery schedules or cancellations or deferrals of orders; [f] the launching of significant new products or programs which could result in unanticipated expenses; [g] changes in national or international government policies on the export and import of commercial products; [h] bankruptcy or other financial or performance problems at major suppliers or subcontractors that could cause disruptions in our supply chain; [i] continued difficult conditions in the financial markets resulting in adverse impacts to our customers, including difficulty in obtaining financing for the purchase of our products; and [j] continued volatility in the economy resulting in a prolonged downturn in the business jet market.
Source: Textron
Investors:
Textron
Doug Wilburne, 401-457-2288
Bill Pitts, 401-457-2288
or
Media:
Cessna
Robert Stangarone, 316-305-3738
Doug Oliver, 316-213-8973
or
Textron
Michael Maynard, 401-457-2474
Cessna 162 Skycatcher
Cessna has announced that the first production C-162 Skycatcher has been completed in its Shenyang, China factory. The first flight of the new LSA (Light Sport Aircraft) trainer was accomplished soon after to confirm its handling qualities.
“The Skycatcher program continues to make significant progress, today with the first flight of our very first aircraft produced on production tooling, following closely on the heels of our announcement in July of ASTM compliance for the aircraft,” said Jack J. Pelton, Cessna chairman, president and CEO. “We are excited about this program and eager for the Model 162 Skycatcher to take its place in the industry as the light sport aircraft of choice.”
The aircraft, the first all new single-engine piston trainer that Cessna has developed since the venerable C-150 in 1958, will feature a Continental 200D, 100HP engine and a Garmin G300 avionics package featuring a spilt-screen PFD/MFD or optional two-screen version. Deliveries to the United States will begin by the end of the year.
The LSA program was created by the FAA, with heavy lobbying by the Experimental Aircraft Association (EAA) and others to create a lower cost alternative to flying. LSA’s are certified to have a maximum gross weight of 1320 lbs, fly no faster than 120 knots and operate under VFR. Less restrictive medical requirements enable some pilots to operate LSAs using just their current driver’s license as proof of medical fitness.