SÃO PAULO, BRAZIL, Aug 14, 2013 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, is proudly showcasing its latest aircraft at the Latin America Business Aviation Conference and Exhibition (LABACE) this week, in a region where the company has been and continues to be a preferred supplier of general aviation aircraft.
Speaking at LABACE, Kriya Shortt, Cessna senior vice president of Sales, said: “We have several exciting new products out this year, including the revolutionary new Citation Sovereign, high-performance Cessna TTx and powerful Grand Caravan EX, all of which we expect to be extremely popular with our Latin American customers.
“Latin America has traditionally been a strong region for Cessna and we have an enduring relationship with our customers here. In the region, Citation jets outnumber the next three competing brands combined and we are proud to build on our years of experience with our partners at TAM Aviação Executiva. These customers recognize quality and performance, and they will continue to choose Citations. We are committed to retaining our regional leadership through superior products and service.
“Brazil, in particular, is an important country for us – nearly half of all light and midsize jets currently operating in the country are Citations, and in the past five years Cessna has continued to be the most favored business jet import for Brazilians. We look forward to delivering many of our new products to customers here.”
Cessna is exhibiting with TAM Aviação Executiva, a Cessna Authorized Sales Representative in Brazil. Cessna’s static display at LABACE includes the Citation Latitude mock-up, Citation Sovereign, Citation XLS+, Citation CJ4, Citation Mustang, Cessna TTx, Turbo Stationair and Grand Caravan EX.
Cessna currently manufactures eight Citation business jet models, with two additional products in development – the Citation Latitude, due out in 2015, and the Citation Longitude, due out in 2017. The Citation M2 can fly six passengers non-stop from São Paulo to Buenos Aires, while the Citation X can connect up to eight passengers from Rio de Janeiro, Brazil to any point on the South American continent, travelling at speeds up to Mach 0.935 (1,224 km per hour). When launched, the super-mid size Citation Longitude is expected to have the non-stop range to connect Brasília, Brazil to Washington D.C., or Cape Town, South Africa.
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.
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.