WICHITA, Kan., Jan 10, 2013 – Cessna Aircraft Company, a Textron Inc. company (NYSE: TXT), announced today the Grand Caravan EX has earned FAA Type Certification and has outperformed initial targets. Powered by the new Pratt & Whitney Canada PT6A-140 engine, today's Grand Caravan EX boasts a 38 percent improvement in the rate of climb of the Grand Caravan, a figure which exceeds the original 20 percent improvement projection.
"When we started with this design, we knew we could push the performance envelope on the Grand Caravan EX and get it into service for our customers in 'high and hot' missions, but the performance we've realized through the certification process with the new Pratt & Whitney Canada PT6A-140 engine has truly exceeded our already aggressive performance targets," said Lannie O'Bannion, Cessna business leader for the Caravan. With the first deliveries of the airplane already underway, customers are experiencing the Grand Caravan EX benefits first-hand.
"Thanks to the ingenuity of our team and partners, today's announcement further demonstrates that the Cessna Grand Caravan EX can work or play in almost any theater, region or topography in the world," O'Bannion said. "This is the sport utility aircraft for practically any mission the customer might have in mind, business or recreation."
The EX is the latest example of Cessna's efforts to bring new products to customers. Six new or upgraded Cessna models, including the EX, will deliver during 2013 giving customers more choices for optimal range, performance and value.
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 changes in worldwide economic or political conditions that impact demand for our products, interest rates or foreign exchange rates; changes in government regulations or policies on the export and import of commercial products; 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.