The U.S. Senate approved legislation yesterday to reauthorize the Export-Import Bank, bringing to conclusion a dispute in Congress driven by the airline industry’s opposition to export financing of Boeing long-range aircraft purchased by competing foreign carriers. The Export-Import Act of 2012 (H.R.2072) was approved a week earlier by the House and is expected to be signed by President Obama. The bill extends the bank’s charter through 2014 and increases its lending authority by $40 billion, to $140 billion.
Scott Ernest, the president and CEO of Cessna Aircraft. spoke with AIN News Editor David A. Lombardo, about the launch of the new Citation Longitude in the face of a tough market.
Bell Helicopter believes it is poised to rebuild market share in Europe with sales for its latest 429 model, which is on show here at EBACE (Stand 7091). For several years, the European market’s requirements for twin-engine rotorcraft has favored rivals Eurocopter and AgustaWestland.
Europe remains solid for business aviation and will remain a high priority for Cessna, according to the company’s president and CEO Scott Ernest. This vote of confidence in an apparently ailing market will likely be endorsed here at EBACE today with Cessna expected to make an announcement “about a new product.”
Europe remains solid for business aviation and will remain a high priority for Cessna, company president and CEO Scott Ernest said today at EBACE. This vote of confidence in an apparently ailing market will likely be endorsed tomorrow at the show, with Cessna expected to make an announcement “about a new product.” There are now more than 1,000 Cessna Citations in Europe, the largest fleet outside of the U.S.
Cessna Aircraft signed a strategic agreement today with China Aviation Industry General Aircraft Company (Caiga) and the Shijiazhuang Municipal Government that lays the groundwork for final assembly, sales and customer support for the Cessna Caravan in China for the Chinese market.
Cessna’s new Citation M2 will share a production line with the Citation Mustang in Independence, Kan. “We have capacity there,” said Brian Rohloff, Cessna business leader for the Mustang and M2 programs.
Textron Defense Systems will start production of India’s order for 512 CBU-105 sensor fuzed weapons (SFW) soon. The $257.7 million sale was contracted via the U.S. Foreign Military Sales mechanism in November 2010. Encouraged by India’s continuing move away from reliance on Russian weapons, Textron is now marketing other defense systems in the country.
Cessna Aircraft and Bell Helicopter parent company Textron reported first-quarter revenues of $2.9 billion yesterday, up 15.2 percent from a year ago, and $247 million in manufacturing profits, an $80 million increase attributable largely to Bell. While quarterly revenues at Cessna increased by $113 million year-over-year, to $669 million, the division still recorded a loss of $6 million, though the red ink was shallower than the $38 million loss in last year’s first quarter.
Bell Helicopter opened a new office in New Delhi today for all of its operations in India. The company has had a presence in India for nearly 20 years, opening a liaison office in 1995. There are currently more than 100 Bell helicopters operating throughout India, it noted.
“We believe there are tremendous growth opportunities in terms of sales and manufacturing [in India],” said Bell president and CEO John Garrison. “This is an important day for Bell Helicopter as we celebrate our continued commitment and partnership with our customers in India.”