DUBAI, UAE, November 13, 2011 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, is highlighting Saudi Arabia as the country to lead the resurgence of the Middle East business aviation market.
Speaking today at the Dubai Airshow, Mark Paolucci, Cessna’s senior vice president for sales, said: “There is no denying the global recession has impacted the Middle East but the region’s economies remain fundamentally strong, with Saudi Arabia predominant. The country’s government and individual customers continue to be key players in the business jet market. Right now, we see Saudi Arabia as the greatest opportunity for sales in the region. We also believe that Citation jets are ideal for business aviation across the entire Middle East and North Africa. We also believe that Morocco is another great market that shows good potential for Cessna.”
Assessing the impact of the recession, Paolucci said: “The new commercial leaders in the Middle East want to balance their desire for the time-saving advantages of business aviation with a pragmatic evaluation of cost. Whether an owner is looking for short-range regional transportation with our entry-level Mustang or new M2, a mid-size aircraft capable of operating in demanding conditions like the XLS+, or rapid intercontinental travel with a Citation Ten, Cessna is able to provide a compelling solution.”
Paolucci added: “Alongside the comfort, performance and value of our aircraft, the quality of our customer field support is one of our major strengths. With an Authorized Citation Service Center in Riyadh and another center opening soon in Cairo, Cessna offers Middle East customers the peace of mind and convenience synonymous with Citation ownership.”
Cessna is the world’s leading general aviation company. Since its inception in 1927, Cessna has designed, produced and delivered more than 192,500 airplanes around the globe. This includes more than 6,100 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 2010, Cessna delivered 535 aircraft, including 179 Citation business jets, and reported revenues of $2.6 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 following:
• The efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products;
• 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;
• Performance issues with key suppliers, subcontractors or business partners
• Difficult conditions in the financial markets which may adversely impact our customers’ ability to fund or finance purchases of our products; and
• Continued volatility in the economy resulting in a prolonged downturn in the markets in which we do business.