Cessna Aircraft signed a letter of intent (LOI) yesterday with Columbia Aircraft of Bend, Ore., to acquire selected assets and certain liabilities of the manufacturer of low-wing, high-performance piston airplanes. In conjunction with the LOI, Columbia filed a voluntary petition for reorganization under Chapter 11 of the U.S. bankruptcy code.
XOJet yesterday announced a $600 million order for 30 Citation Xs in an agreement with Cessna that will increase the charter operator’s fleet of the speedy business jets from 12 to 47 over the next three years.
XOJet’s growing Citation X fleet will increase to 17 airplanes by the end of the year. The first deliveries from the new order will start next year and continue through the end of 2010.
Cessna will occupy Room B313 in the Georgia World Congress Center for most of today and tomorrow with detailed maintenance and operations sessions covering the entire Citation line.
Cessna has been a dominant force in business jet manufacturing for more than three decades, rolling out new Citation models at a pace that has kept buyers satisfied and competitors on their toes.
Cessna yesterday delivered the first Citation Mustang to a European customer when British entrepreneur Jane Howell received her aircraft at the London-area Farnborough Airport. Howell has been a private pilot for 20 years and will fly the Mustang herself for both business and personal trips around Europe.
Deliveries of both jets and turboprops were up again in the first half of this year, according to second-quarter numbers released by the General Aviation Manufacturers Association (GAMA).
Cessna’s Large Cabin Concept (LCC) mock-up completed a tour of Europe in late June. The extensive public consultation exercise has fueled optimism that the manufacturer will find a market for a new large business jet, while at the same time posed important questions that need to be resolved before any such program can be launched.
Cessna parent Textron said last month that revenue for the Wichita- based manufacturer was up by 15 percent in the second quarter of the year, representing a $198 million increase, to $1.3 billion, compared with the same period last year. Profits for the second quarter were up, too–by $47 million, to $200 million.
When Cessna opened its new 159,000-sq-ft Orlando Citation Service Center on June 21, the facility became the largest in the company’s service-center network. And with a second construction phase adding another 26,000 sq ft due to be completed early next month, it’s hard to believe that this 185,000-sq-ft complex will no longer hold this distinction by Thanksgiving.
Cessna parent Textron said today that revenue for the Wichita-based manufacturer was up by 15 percent in the second quarter of the year, representing a $198 million increase to $1.3 billion compared with the same period last year. Profits for the second quarter were up, too–by $47 million, to $200 million.