July 23, 2012

Cessna Grand Caravan EX; More Power, Greater Performance

OSHKOSH, Wis., July 23, 2012 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) announced the latest innovation in the Cessna Caravan product line, the Cessna Grand Caravan EX.

The Grand Caravan EX offers increased horsepower (HP) which improves the aircraft’s performance in current mission profiles and allows for missions to extend into regions of the world with higher altitudes and higher temperatures.

Powered by the new Pratt & Whitney Canada PT6A-140 engine, the available power in the Grand Caravan EX has increased almost 25 percent, from 675 HP to 867 HP. This improvement boosts the aircraft’s performance, including a 350 foot reduction in takeoff roll, a 20 percent improvement in the rate of climb, and a 10-12 knot cruise speed improvement over average.

“We listened carefully to our customers when designing the EX, and we think they will be pleased with the outcome,” said Lannie O’Bannion, Cessna business leader for the Caravan. “The Grand Caravan EX will climb faster, and have the power and capacity to take on missions in parts of the world with higher elevations and higher temperatures while still delivering on utility. It’s what the Caravan has always been about, and the new enhancements make the Grand Caravan EX an indispensible tool for customers who operate in diverse areas of the world.”

“We anticipate continued success for the Caravan in business and personal use,” continued O’Bannion. “The Caravan has proven to be an incredibly reliable and versatile aircraft. This significant increase in performance not only improves performance in current operations, it will make the Grand Caravan EX a fantastic solution for customers and operations in new markets and remote locations. Simply put, this aircraft places more of the world within reach.”

The EX is the latest example of Cessna’s efforts to place more innovative products in the aviation marketplace. For the first time since the Grand Caravan was introduced in 1994, the Grand Caravan EX can be modified for amphibious missions with floats provided by Wipaire, Inc. The avionics suite will remain the proven Garmin G1000, the executive “Oasis” interior will be available for the EX, and exterior lights are being moved to longer-life LEDs. “We kept the customer in mind throughout the entire development process on this aircraft”, said O’Bannion. “While providing more range and power, we have also delivered a new product that will have a minimal impact on direct operating costs.”

Entry into service for the Grand Caravan EX is expected to be in the fourth quarter 2012.


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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, risks and uncertainties related to the launching of new products or programs which could result in unanticipated delays or expenses; the timing of our new product launches or certifications of our new aircraft products; performance issues with key suppliers, subcontractors or business partners; changes in worldwide economic and political conditions that impact demand for our products, interest rates and foreign exchange rates; and continued volatility in the economy resulting in a prolonged downturn in the markets in which we do business.