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Production of Business Jets Soars to Record Level


JANUARY 25, 2000
WICHITA, KANSAS

Aircraft orders and deliveries by the Cessna Aircraft Company continued on a solidly upward trend in 1999, bringing revenue and backlog numbers to record levels. Cessna's 1999 aircraft deliveries totaled 1,210 units, an 11% increase over 1,077 aircraft delivered in 1998. In addition, the current backlog totals 1,102 units.

Sales activity for the Cessna Citation, Caravan, and single-engine piston aircraft increased 22% over 1998, with an impressive 1,394 firm orders.

The Citation team celebrated another banner year with an industry record 224 deliveries and 353 aircraft orders, bringing the total Citation backlog to an unprecedented 650 units. Significant milestones in 1999 included the 3,000th Citation delivery, which established the Citation business jet fleet as the largest in the world by a full 50 percent over its nearest competitor. Cessna offers the most comprehensive line of business jets in the industry, including: the newly introduced Citation CJ1, Citation CJ2, Encore and Sovereign which join in the Citation family, the Bravo, Excel, Citation VII, and the world's fastest business jet, the Citation X.

The Caravan continues to deliver strong customer acceptance and sales performance. Today there are more than 1,100 Caravans operating worldwide, which have logged more than 4 million flight hours, and delivered 99.8% dispatch reliability.

Since deliveries began three years ago, 1999 was the first year that all five single engine piston models were in full production, and was highlighted by the celebration of the 2,000th airplane delivered from the Independence facility. Market interest continues to significantly increase for new single-engine piston aircraft. Order placements increased nearly 60% over the previous year, and annual deliveries continue to grow steadily; up 14% over the 775 aircraft delivered in 1998.

The momentum of the Cessna Pilot Center program strengthened considerably with the introduction of the new Sallie Mae financing program for student pilots and announcement of a new computer-based instruction program for instrument ratings scheduled to be released this spring. The Cessna Pilot Center network now includes 225 flight schools across North America, making it the largest flight training network in the world.

Cessna Aircraft Company is a subsidiary of Textron Inc. (NYSE:TXT - news), an $11.6 billion, global, multi-industry company with market-leading businesses in aircraft, automotive, industrial, and finance.

Source: Company news release