WICHITA, Kan., March 4, 2013 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, announced today the first production New Citation Sovereign rolled off the production line in the company’s Wichita, Kan., manufacturing facility. The New Citation Sovereign is one of six new Cessna aircraft expected to hit the market this year.
“This rollout today is proof of Cessna’s commitment to bringing new products to customers in 2013, and demonstrates our strong investment in the future,” said Kelly Reich, business leader for the New Citation Sovereign. The aircraft was announced at the National Business Aircraft Association (NBAA) trade show in Orlando five months ago. Reich continues, “It’s a short turn-around from just announcing this program last fall, to already having an aircraft rolling out the door and headed to the next stages of completion. This is a testament to the team of people designing and building Cessna’s next generation of aircraft. It takes hard work and dedication to accomplish what this team has accomplished.”
The newest Citation will have a range of 3,000 nm (3,452 statute miles). It features improved cabin cooling, Garmin G5000 avionics with auto throttles, and a new cabin management system. Winglets have been added to the New Sovereign, contributing to the increase range and enabling a direct climb to 45,000 feet. With a newly announced five year warranty package, the New Sovereign offers owners even greater value.
“Success breeds success and that’s easy to see with the New Sovereign,” said Michael Thacker, senior vice president of Engineering. “Once again, Cessna took a great aircraft and made it even better. The New Citation Sovereign is another example of our employee’s capabilities to take customer feedback, combined with advanced design and deliver an aircraft the market has asked for, and do it quickly.”
The Citation Sovereign has been in service since 2004. It features one of the longest cabins for its class, has a typical seating configuration for nine passengers and is well known for being able to operate into and out of short runways. Type certification and entry into service for the New Citation Sovereign is slated for the third quarter. The New Citation Sovereign will have a maximum cruise speed of 458 kts (527 statute miles per hour).
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.