July 29, 2013

Oshkosh program overview

OSHKOSH, Wis., July 29, 2013 - Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, has introduced three new single-engine products to the general aviation market in the past twelve months. Orders are being taken on the Grand Caravan EX, the Turbo Skylane JT-A and the Cessna TTx, aircraft that extend traditional boundaries of general aviation in terms of payload, performance and style.

“Cessna’s three new aircraft all offer distinct strengths and capabilities,” said Jodi Noah, Cessna senior vice president of single engine/propeller aircraft.

“Speed, performance and utility are all hallmarks of the newest Cessna single engine aircraft, the TTx, which delivers unmatched speed and luxury for our single engine pilots. Customers continue to rave about the performance and efficiency of the JT-A, while the versatile Grand Caravan EX remains the hands-down favorite as the powerful utility aircraft of choice in the global marketplace,” Noah added.

The all-composite TTx currently holds the title of the fastest commercially produced and certified fixed-gear single engine aircraft in the world. The aircraft recently received type certification and is already being delivered to customers. Upcoming TTx units will be delivered equipped with Flight into Known Icing (FIKI) de-icing systems. This proven de-icing technology extends the mission capabilities of the TTx.

“The TTx has been exceptionally well received,” said Brian Steele, Cessna business leader for the TTx. “The speed and power of this product resonates with customers looking for that next step up in aerodynamic performance. Combine this leading performance with the intuitive touch screen G2000 avionics and luxury interior, and you have a true market changer on your hands. It is easy to be impressed by the TTx.”

The first production flight of the Jet-A fueled Turbo Skylane JT-A took place in May 2013 and it has since logged almost 200 hours, some of which occurred on the aircraft’s transatlantic flight from Nova Scotia to Guernsey in the Channel Islands off the coast of England, UK.

“The Turbo Skylane JT-A continues to be well received by customers, both domestically and internationally,” said Jeff Umscheid, business leader for the JT-A. “The transatlantic flight is a credit to the whole JT-A team and an indicator of the startling capabilities of this aircraft. The fuel technology we have incorporated into this product offers unparalleled fuel efficiency. As a result, the aircraft burns approximately 30 percent to 40 percent less fuel than its avgas engine counterparts.” Umscheid said.

Certification for the JT-A is expected in the third quarter of this year, with deliveries to follow.

The Cessna Grand Caravan EX was unveiled at EAA Oshkosh in 2012, with deliveries commencing in December of 2012. The “high and hot” configuration has kindled interest in many regions of the world. “The EX has generated worldwide interest in the Caravan line,” said Lannie O’Bannion, Cessna business leader for the Caravan. “We are seeing interest in many different areas, from customers who see the advantages of the powerful, versatile Grand Caravan EX.”

Bob Bursiel, president of Wright Air Service, purchased the Grand Caravan EX to enhance his company’s fleet. The airline is based in Fairbanks, Alaska and serves North Alaska and the state’s expansive Interior, offering passenger and freight service. “We have been very happy with the versatility, increased performance and higher power provided by the EX. The increased cruising speed is appreciated by pilots and passengers,” Bursiel remarked.

Thirteen Grand Caravan EX aircraft were sold into Africa in the first half of 2013. One of those customers is Northern Air/Legendary Expeditions of Arusha, Tanzania. The company uses the Grand Caravan EX as a versatile platform to provide greater access for their clients during safari tours of east Africa.

“The EX has made the Caravan, already a good aircraft, into an amazing one,” said Rikus van der Goot, Chief Pilot for Northern Air/Legendary Expeditions. “We are very impressed with the fuel burn, cruising speed, and especially the rate of climb. Needless to say, we are the envy in the Caravan community here.”

More than 2,200 Caravan aircraft have been manufactured by Cessna since the aircraft was introduced in 1985. The model 675 Caravan is still available, along with the Caravan Amphibian and the Super Cargomaster EX. For more information about the various Caravan aircraft and their capabilities, go to Cessna.com/Caravan.

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.

Grand Caravan is a registered trademark of the Cessna Aircraft Company. JT-A and Corvalis TTx are trademarks of the Cessna Aircraft Company.

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.