March 27, 2012

Cessna Sees High Asian Interest in Citation Latitude

SHANGHAI, March 27, 2012 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, said today at the Asian Business Aviation Conference & Exhibition (ABACE) the company is seeing high levels of interest from Asia around the planned game-changing mid-size business jet, the Citation Latitude, scheduled to enter service in 2015.

Speaking at ABACE, Bill Harris, Cessna’s vice president, sales for Asia and Asia Pacific, said: “Overall demand for light and mid-size business jets in Asia is undoubtedly increasing, and we are finding customers eager for deliveries ‘now’ rather than later. We are seeing particularly high levels of interest from customers who, for example, already own or operate a mid-size Cessna Citation such as the Citation XLS+ and are planning their future purchases. The Citation Latitude represents a logical next step to a new, more advanced Citation and, like the Citation XLS+, offers a high residual value.”

Harris also noted the Asian market’s interest in the new 15% range extension for the Citation Latitude. The specifications of the Citation Latitude have been revised to increase maximum range from 2,000 to 2,500 nautical miles (3,704 to 4,630km). “The Latitude offers non-stop flights between many major regional and domestic city pairs in Asia, including Beijing-Haikou, Beijing-Hong Kong and Hong Kong or Shenzhen-Seoul.”

Announced in October 2011, the Citation Latitude will offer Cessna’s widest-yet passenger cabin with stand-up access throughout the aircraft’s length of more than 16 feet. The Citation Latitude combines the payload, speed and range customers want with an unmatched cabin experience at its price point ($14.9 million in 2011 USD). Designed for a crew of two plus up to eight passengers, the aircraft will have a maximum altitude of 45,000 feet (13,716 meters) and a maximum cruise speed of 442 knots (819km/h). The Citation Latitude will climb to 43,000 feet (13,106 meters) in just 23 minutes.

The Citation Latitude features the fully integrated Garmin G5000 avionics system and Clairity™, an intelligent cabin technology solution developed by Cessna in partnership with Dallas-based Heads Up Technologies. Clairity™ ties into the avionics system and integrates cabin electrical systems with data and communication sharing through a fiber-optic backbone. Cabin systems are controlled either through intuitive touch-screen user interfaces at each seat, or customers’ personal electronic devices.

For more information about the Citation Latitude, visit the links below:
Citation Latitude website
Citation Latitude images
Citation Latitude video

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Cessna is the world’s leading general aviation company. Since its inception in 1927, Cessna has designed, produced and delivered more than 192,500 airplanes around the globe. This includes more than 6,100 Citation business jets, making it the largest fleet of business jets in the world. Today, Cessna has two principal lines of business: aircraft sales and aftermarket services. Aircraft sales include Citation business jets, Caravan single-engine utility turboprops, single-engine piston aircraft and lift solutions by CitationAir. Aftermarket services include parts, maintenance, inspection and repair services. In 2010, Cessna delivered 535 aircraft, including 179 Citation business jets, and reported revenues of $2.6 billion. More information about Cessna Aircraft Company is available at cessna.com.

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 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, the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products; 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; performance issues with key suppliers, subcontractors or business partners; changes in worldwide economic or political conditions that impact demand for our products, interest rates or foreign exchange rates; changes in government regulations or policies on the export and import of commercial products; difficult conditions in the financial markets which may adversely impact our customers’ ability to fund or finance purchases of our products; and continued volatility in the economy resulting in a prolonged downturn in the commercial aviation market.