BANGALORE, February 6, 2013 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, said today the company foresees rising demand for its Caravan and Citation aircraft in India this year as customers respond to anticipated government reforms.
Speaking at the Aero India show in Bangalore, Bill Harris, Cessna vice president, Sales for Asia and Asia Pacific, said: “India is expected to be amongst the world’s fastest growing economies in 2013 and stands to benefit hugely from a national expansion of business aviation, both for domestic and international travel. Cessna is optimistic that legislative and regulatory reforms this year will remove several barriers to India’s aircraft market development. With its unrivaled breadth of aircraft, we believe Cessna is superbly positioned to meet the country’s pent up customer demand.”
Cessna believes one of its strongest products for the Indian market is the company’s Caravan turboprop aircraft, which is a globally proven workhorse for commuter and utility missions in demanding environments. Harris said: “One of India’s pressing needs is to improve its intra-state air links and the Caravan is vastly capable in this respect. Whether operated as a passenger or cargo aircraft, the Caravan can cope with the most demanding terrain and is perfectly suited to the extremes of Indian weather. With the launch of the high-power Grand Caravan EX this year, Cessna is better placed than ever to offer tough aircraft that keep going under the harshest conditions.”
The company also anticipates rising demand for its Citation family of business jets as India’s economy continues to grow. Harris said: “India is a global force in business, with leadership positions in markets such as information technology, auto manufacturing and finance. To manage their operations domestically and internationally, Indian business leaders need the time savings offered by business jets but do not necessarily always want or need a long-range aircraft. Aircraft such as Cessna’s Citation Mustang, CJ2+, XLS+ and Sovereign offer an exceptional blend of performance, dependability and value and are seeing increasing interest from Indian customers, particularly from charter operators scaling up to serve corporate and leisure demand.”
To better serve the Indian market, Cessna has recently appointed dedicated in-country sales managers for propeller and Citation aircraft.
Cessna is displaying a Citation Mustang business jet at Aero India.
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.
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 risk that legislative and regulatory reforms in India do not take place or do not have the anticipated impact on the business aviation market; changes in government regulations or policies on the export and import of commercial products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates; 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; the timing of our new product launches or certifications of our new aircraft products; 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.