May 13, 2012

Cessna Sees Future Growth in the European Business Jet Market

GENEVA, Switzerland, May 13, 2012 – Scott Ernest, president and CEO of Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, spoke today of Cessna playing a key role in the continuing future growth of the business jet industry in Europe.

Speaking at the European Business Aviation Convention and Exhibition (EBACE) in Geneva, Switzerland, Ernest said: “We are seeing high levels of interest in our aircraft throughout Europe and we expect this trend to continue.

“Europe is perhaps the most diverse region in the world for business aviation, combining established major markets, like Germany and the UK, with the emerging markets of Eastern Europe. We are seeing encouraging Citation interest across the region. There’s also an increasing demand for Grand Caravans across the CIS and enquiries are picking up on a more regular basis.

“The significant advantages that stem from business aviation are important and appealing factors in the European market. We expect the European Union to remain our single largest market outside the U.S. for the foreseeable future.

“At Cessna we offer an ideal suite of Citation jets for all business aviation needs in Europe. European customers are balancing the desire for the time-saving advantages of business aviation with the need to control costs. The Citation Mustang, Citation XLS+, CJ2+, CJ3 and CJ4, in particular, do well here. We expect the Citation M2 will be popular too, as operator feedback in Europe has indicated a desire for a Citation of its size, speed and range. And we’re excited about the game-changing Citation Latitude entering the market in 2015; the aircraft will offer current Citation owners and operators an opportunity to upgrade and we expect that it will play a significant role in the growth of the European mid-size business jet market.”

Cessna is exhibiting at Booth #7081, Hall 7, of the Geneva Palexpo at EBACE. The company’s static display at the event includes the Citation X, Citation Sovereign, Citation XLS+, Citation CJ4, Citation CJ3, Citation CJ2+, Citation Mustang, Grand Caravan and Turbo Skylane.

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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.