May 13, 2012

Cessna Reports European Market Demand for Citation Latitude

GENEVA, Switzerland, May 13, 2012 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, said today at the European Business Aviation Convention & Exhibition (EBACE) the company is seeing high levels of interest from Europe around the planned game-changing mid-size business jet, the Citation Latitude, scheduled to enter service in 2015.

Speaking at EBACE, Joe Hepburn, Cessna’s senior vice president, Customer Service, said: “We see the Citation Latitude playing a significant role in the continuing growth of the European mid-size business jet market. We are experiencing encouraging levels of interest in the aircraft, particularly from customers who already own or operate a mid-size Cessna Citation such as the Citation XLS+ and are planning future purchases. The logical next step is to buy a new, more advanced Citation and the Citation Latitude provides the perfect solution.”

Thress also highlighted 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 2,300 nautical miles (3,704 to 4,259.6 kilometers).

“The Latitude meets the evolving requirements of business travelers and offers non-stop flights from western European cities such as Geneva, London and Paris to key destinations including Cairo and Moscow,” Hepburn said.

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 a price point of $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 (819 kilometers per hour).

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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About Cessna
Cessna is the world's leading general aviation company. Since its inception in 1927, Cessna has designed, produced and delivered more than 193,500 airplanes around the globe. This includes more than 6,300 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 2011, Cessna delivered 689 aircraft, including 183 Citation business jets, and reported revenues of $2.990 billion. More information about Cessna Aircraft Company is available at 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 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; changes in government regulations or policies on the export and import of commercial products; 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; 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 markets in which we do business.