October 21, 2013

Citation continues to be top choice with fractional operations

Brad Thress, Cessna senior vice president of Business Jets, says: “Businesses conducting fractional operations continue to choose Citation business jets more often than any other brand of jet. Stated another way, there are more Citations in the installed fleet of fractional operations than any other business jet. We believe this is a great reflection on not only the dispatch reliability, safety record, and comfort of the aircraft, but is also a strong testament to the superior direct operating costs of our fleet.”

NetJets has the largest private jet fleet in the world and announced the largest private aviation order in history in August of 2012. As part of that record-setting $9.6 billion agreement, NetJets ordered 25 new Cessna Citation Latitude aircraft with options for 125 more, with deliveries expected to start in 2016.

“We have a long-standing, successful relationship with Cessna and we are delighted to be working with them on the NetJets Signature Series Citation Latitudes,” said Adam Johnson, NetJets senior vice president of Global Sales, Marketing and Service. “The features of the Latitudes will help differentiate our fleet and provide our customers with the safety, service, reliability and efficiency they require, as well as expand NetJets’ overall fleet capabilities.”


NetJets holds the distinction for being the world’s largest Citation jet operator. The fractional company’s installed base of aircraft includes more than 50 Citation X aircraft, making NetJets the world’s largest operator of the Citation X. Cessna Citation jets outnumber the closest competing manufacturer in the NetJets fleet by a two-to-one margin.

JetSuite is the fastest-growing private jet charter company in the U.S. Based in Irvine, Cal., JetSuite is currently operating six JetSuite Edition CJ3 aircraft and intends to acquire two more refurbished Citation CJ3 aircraft by the end of this year. JetSuite CEO Alex Wilcox says: “The Citation CJ3 allows us to operate with an extremely high level of confidence and efficiency. The Citation CJ3 demonstrates amazing performance without sacrificing on cabin comforts. When we can count on 98% mechanical dispatch reliability across our fleet, we are able to offer private, efficient and safe air travel to more people than ever before.”

Executive AirShare is a fractional jet ownership company based in Kansas City, Mo. The company has seen a 20 percent increase in fractional ownership over the past year. The company has introduced three Citation CJ2+ aircraft to their fleet of business jets, offering comprehensive jet service from hubs in the central U.S. and the Great Lakes region. “The Citation CJ2+ aircraft fit perfectly within our offerings, and meets our customers’ needs for range, seating and speed in an impressive fashion,” says Bob Taylor, Executive AirShare founder and chief executive. In addition to fractional packages, the company also offers share leasing, an equity-building jet card program, and aircraft management plans.

###

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 may project revenues or describe strategies, goals, outlook or other non-historical matters; these forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update them. 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 aircraft delivery schedules or cancellations or deferrals of orders, the timing of certification and deliveries of new aircraft models and difficult conditions in the financial markets which may adversely impact our customers' ability to fund or finance purchases of our products.