February 11, 2014

Cessna looks forward to continuing demand in southeast Asia

SINGAPORE, February 11, 2014 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, is anticipating heightened demand for business aviation in southeast Asia, the company said today at the Singapore Airshow.

Speaking at the show, which runs from February 11-16, Bill Harris, Cessna vice president of Sales for Asia and Asia Pacific, said: “As the global economy continues to recover, southeast Asia’s financial resilience and rising prosperity make it likely the business aviation market will mature at quite a rapid pace. Long-term forecasts for the economies of Indonesia, Malaysia, the Philippines, Singapore, Thailand, Myanmar and Vietnam are positive, which is extremely encouraging for aviation in general.”

Harris continued: “Not only are we seeing growing demand for our industry-leading Cessna Citation business jets in south-east Asia, we are also seeing strengthening demand for our single-engine piston and turboprop aircraft. For example, there are more than 60 Caravans operating in Indonesia and nearly 20 Caravans in Thailand. With the exciting launch of the Grand Caravan EX, we expect this demand to rise even further.”

Cessna’s Grand Caravan EX is engineered for challenging, rugged missions with high payloads and short, rough runways. This “high and hot” workhorse delivers 28 percent more horsepower than the original Grand Caravan, a 38 percent increase in rate of climb, a 106 meter (340 ft) reduction in takeoff distance and a 13-knot cruise speed improvement.

In order to support aircraft in southeast Asia, Cessna operates a joint service facility with sister company Bell Helicopter at Seletar Aerospace Park in Singapore. The facility covers 160,500 square feet in total and is equipped with facilities including a warehouse, overhaul and maintenance shops and offices.

Cessna aircraft image gallery

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About Cessna
Unmatched experience in aircraft design and manufacturing has established Cessna Aircraft Company as the world’s general aviation authority. Since its inception in 1927, Cessna has designed, produced and delivered nearly 200,000 airplanes around the globe. This includes more than 6,600 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 2013, Cessna delivered 467 aircraft, including 139 Citation business jets, and reported revenues of $2.784 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 related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries;; 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.