April 4, 2013

Cessna Citation Latitude Production on Track; East Coast Tour Takes Flight

WICHITA, Kan., April 4, 2013 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, announced today that the production for the Citation Latitude aircraft, first announced in October 2011, is on schedule and making progress toward completion of full airframes this year. 

The next generation in business travel, the Latitude, with a maximum range of 2,500 nautical miles (4,630 kilometers), is designed to provide the most open, spacious, light, and refined cabin environment in this category of aircraft. The aircraft will deliver a clean, contemporary environment for a crew of two plus up to eight passengers, will have a maximum altitude of 45,000 feet (13,716 meters) and a maximum cruise speed of 440 knots (815 kilometers per hour). It will climb to 43,000 feet (13,106 meters) in just 23 minutes. 

“We’ve started building engineering test articles. The first prototype is expected to fly in Q1 2014,” said Terry Shriner, business leader for the Citation Latitude. “We’ve moved from engineering, analysis and modeling to cutting metal and driving rivets. The team is always energized when we see an airplane begin to take shape for the first time.” 

To build experimental units for testing, Cessna is using production tooling. During this phase, improvements will be identified and incorporated into the tooling and assembly methods before line production begins in 2014 to continue to ensure on-schedule deliveries and support the expectation of high-quality finished aircraft. The first airframe is planned for testing cyclic fatigue; the second for static testing. 

Beginning this month, the Citation Latitude mock up will take off for visits in 19 cities including: 

 
• West Palm Beach, Fla., April 4-6 
• Orlando, Fla., April 9
• Atlanta, Ga., April 12
• Charlotte, N.C., April 15
• Teterboro, N.J., April 18
• White Plains, N.Y., April 19
• Columbus, Ohio, April 23
• Chicago, Ill., April 26
• Louisville, Ky., May 2-5
• Dallas, Texas, May 9
• Houston, Texas, May 13 and 15 
• Fredericksburg, Texas, May 17
• Van Nuys, Calif., May 22
• Napa, Calif., May 25-26
• San Jose, Calif., May 29
• Seattle, Wash., June 3
• Denver, Colo., June 7
• Minneapolis, Minn., June 11
• Oklahoma City, Okla., June 14

“Customers are already excited to get a glimpse of the Citation Latitude,” said Shriner. “The Latitude’s value is outstanding, especially in a coast-to-coast mission.”

A video highlighting the Latitude’s features can be viewed on Cessna's YouTube channel. 


Latitude images:

http://textron.vo.llnwd.net/o25/CES/releases/Citation_Latitude_Flight.jpg

http://textron.vo.llnwd.net/o25/CES/releases/Citation_Latitude_cockpit.jpg

http://textron.vo.llnwd.net/o25/CES/releases/LAT_Brochure.jpg

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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 nearly 200,000 airplanes around the globe. This includes 6,500 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 2012, Cessna delivered 571 aircraft, including 181 Citation business jets, and reported revenues of $3.111 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, the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; 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; changes in government regulations or policies on the export and import of our products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; performance issues with key suppliers or subcontractors; difficult conditions in the financial markets which may adversely impact our customers’ ability to fund or finance purchases of our products; and continued demand softness or volatility in the  markets in which we do business.