News Releases
Cessna Delivers Four Aircraft to Chinese Customers in June
BEIJING, July 21, 2010 - Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, marked a very successful month in the People’s Republic of China with the delivery of four aircraft – one Citation Mustang and three 208 Caravans. Two of the Caravans were financed by the leasing division of AVIC, China’s primary aviation organization.
The aircraft add to Cessna’s considerable fleet presence in China. Cessna supports 24 Citations in China, about 35 percent of the total business jet fleet (excluding Hong Kong and Macau).
“We have a very long relationship with AVIC, so it is very natural to call on this facility for finance support in China,” said Tom Aniello, Cessna vice president of Marketing during a visit to China this week. “We are finding a very good market here for the full range of Cessna aircraft – piston aircraft for training up to high-performance Citations.”
The Mustang, the first to be delivered in China, was delivered to Deng Bin, a repeat customer who also owns and flies a Citation CJ1+.
Caravans were delivered to Shanghai HaoHai General Aviation Co. Ltd., Zhongshan Eagle General Aviation Company and Hainan Asia Pacific General Aviation Company.
A large percentage of the aircraft are considered special mission, performing a number of missions including flight inspection for the China Flight Inspection Center (CFIC) of the Civil Aviation Administration of China (CAAC) and training operations for the CAAC Flying College.
Cessna has its main China office in Beijing and a manufacturing partnership with Shenyang Aircraft Corporation in Shenyang.
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Cessna is the world’s leading general aviation company, based on unit sales, with five major lines of business: Citation business jets, Caravan single-engine turboprops, Cessna single-engine piston aircraft, aftermarket services and lift solutions by CitationAir. In 2009, Cessna delivered 754 aircraft, including 289 Citation business jets, and reported revenues of about $3.3 billion. Since the company was originally established in 1927, more than 192,000 Cessna airplanes have been delivered around the world, including more than 6,000 Citations, making it the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at www.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 www.textron.com.
Forward-looking Information: Certain statements in this release are forward-looking statements and 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 forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including but not limited to the following: [a] changes in worldwide economic and political conditions that impact demand for our products, interest rates and foreign exchange rates; [b] the interruption of production at our facilities or at our suppliers’ facilities; [c] the timing of new product launches and certifications of new aircraft products; [d] the occurrence of slowdowns or downturns in customer markets in which our products are sold or supplied; [e] changes in aircraft delivery schedules or cancellations or deferrals of orders; [f] the launching of significant new products or programs which could result in unanticipated expenses; [g] changes in national or international government policies on the export and import of commercial products; [h] bankruptcy or other financial or performance problems at major suppliers or subcontractors that could cause disruptions in our supply chain; [i] continued difficult conditions in the financial markets resulting in adverse impacts to our customers, including difficulty in obtaining financing for the purchase of our products; and [j] continued volatility in the economy resulting in a prolonged downturn in the business jet market.





