June 27, 2016

Cessna delivers milestone 7,000th Citation as NetJets’ first Citation Latitude

Pictured from left to right: Kriya Shortt, Senior Vice President of Sales & Marketing, Textron Aviation; Adam Johnson, CEO, NetJets; Doug Henneberry, Executive Vice President of Aircraft Asset Management, NetJets; Bill Noe, President and COO, NetJets; Scott Ernest, President & CEO, Textron Aviation

WICHITA, Kan. (June 27, 2016) – Cessna Aircraft Company, a subsidiary of Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company, today announced it has delivered the first fractional Cessna Citation Latitude midsize business jet to NetJets, Inc., a Berkshire Hathaway company. Today’s delivery represents significant milestones for both NetJets and the Citation product line. This aircraft represents the 7,000th Citation delivered worldwide, reinforcing the Citation family as the established leader in business jet travel.

To celebrate this milestone delivery, NetJets and Textron Aviation held a special ceremony at Textron Aviation headquarters in Wichita. During the ceremony, NetJets announced that due to owners’ great response to the Latitude, the company has added 50 more options to its initial order placed in 2012, bringing its total order and options up to 200 aircraft.

“The Cessna and NetJets relationship extends more than 20 years and our newest certified business jet is a perfect fit for their operations,” said Scott Ernest, President and CEO, Textron Aviation. “The Citation Latitude’s performance and value proposition equates to increased productivity for NetJets’ owners, while giving them large-cabin amenities at a midsize cost. We are thrilled the aircraft has become one of the fastest selling aircraft in NetJets’ history.”

NetJets has been operating two demonstrator aircraft throughout the United States and Europe to showcase the Citation Latitude to NetJets owners ahead of the aircraft entering its fleet.

“The Citation Latitude business jet gives our owners and their guests best-in-class performance, size and comfort in the midsize category. As the newest NetJets offering, the Citation Latitude is a great addition to our fleet of the world’s best aircraft,” said Adam Johnson, CEO, NetJets. “With the Latitude, we will continue giving owners unparalleled service and safety, while advancing our long term relationship with Textron Aviation.”

NetJets’ first Latitude is expected to enter into service in July and will be part of the fractional provider’s North American fleet that includes four other Cessna models: Citation Encore/Encore+, Citation Excel/XLS, Citation Sovereign and Citation X aircraft.

With a maximum range of 2,850 nautical miles, the Citation Latitude can fly non-stop from key U.S. cities such as Los Angeles to New York and Chicago to San Francisco. With a flat floor and six feet of cabin height, the Latitude affords the most open, spacious, bright and refined cabin environment in the midsize category. Improving cabin comfort for passengers and crew alike, the Latitude features a new cabin cooling system and a new pressurization system. The system provides a 5,950-foot cabin altitude when the aircraft is at its maximum operating altitude of 45,000 feet, allowing owners to arrive at their destinations feeling more refreshed.

Cessna began deliveries of the Citation Latitude last August and has delivered 23 to customers around the world through the first quarter of 2016.

7000th Citation

Citation aircraft, now with 7,000 delivered, are the most popular line of business jets in the world. With more than 35 million flight hours – far more than any of its competitors – Citation aircraft allow customers to expand their business reach.

Since Cessna delivered its first Citation in 1972, the Citation brand continues to set the standard in the business jet market. Citation jets are renowned for their ability to combine reliability, efficiency and comfort with advanced technology and class-leading performance. This unique combination has resulted in a level of unparalleled quality Citation operators around the globe have come to know and value.

“Throughout the years, the Citation line has evolved to meet the growing needs of our customers and their missions,” Ernest said. “Smart innovation and continuous product investments define our Citation models today. From our leadership in the light jet category with our class-leading Citation M2, CJ3+ and CJ4, up to our latest introduction of the revolutionary super-midsize Citation Longitude, we are pairing decades of proven reliability and performance with the latest technology into the broadest product lineup of jets in the industry.”

Each of Cessna’s Citation models is designed to strike an enviable balance between high performance, comfort and cost-efficient operation. No other family of business jets offers such a seamless progression of aircraft with extraordinary capabilities for the value proposition. There are currently eight Citation models in production including the Citation Mustang, Citation M2, Citation CJ3+, Citation CJ4, Citation XLS+, Citation Latitude, Citation Sovereign+ and Citation X+. The company’s latest Citations in development include the super-midsize Citation Longitude, on schedule to fly this summer, and the Citation Hemisphere, Cessna’s entry into the large-cabin market and planned to fly in 2019.

Images

Pictured from left to right: Kriya Shortt, Senior Vice President of Sales & Marketing, Textron Aviation; Adam Johnson, CEO, NetJets; Doug Henneberry, Executive Vice President of Aircraft Asset Management, NetJets; Bill Noe, President and COO, NetJets; Scott Ernest, President & CEO, Textron Aviation


Adam Johnson, CEO, NetJets addresses the crowd


Textron Aviation employees celebrate the milestone delivery


Scott Ernest, President & CEO, Textron Aviation addresses the crowd


NetJets Citation Latitude


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About Textron Aviation Inc.
Textron Aviation Inc. is the leading general aviation authority and home to the Beechcraft, Cessna and Hawker brands, which account for more than half of all general aviation aircraft flying. The Textron Aviation companies include Cessna Aircraft Company and Beechcraft Corporation, bringing together decades of unmatched experience in designing, building and supporting airplanes. It provides the most versatile and comprehensive general aviation product portfolio in the world through five principal lines of business: business jets, general aviation and special mission turboprop aircraft, high performance piston aircraft, military trainer and defense aircraft, and a complete global customer service organization. Its broad range of products include such best-selling aircraft as Citation and Hawker business jets, King Air and Caravan turboprops and T-6 military trainer aircraft, all of which are backed by the industry’s most capable global service network. For more information, visit txtav.com.

About Textron Inc.
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, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Bad Boy Off Road, Greenlee, Textron Systems, and TRU Simulation + Training. For more information visit: www.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 aircraft delivery schedules and cancellations or deferrals of orders, 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; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; and demand softness or volatility in the markets in which we do business .