WICHITA, Kan., Feb. 25, 2009 – Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, announced today it has gained full type certification from the European Aviation Safety Agency (EASA) for the 400 Corvalis TT high performance, single-engine piston aircraft.
“This is a significant milestone for Cessna, opening a market that has been clamoring for a new, high-performance aircraft like the 400 Corvalis TT,” said John Doman, vice president, Worldwide Propeller Aircraft Sales. “This aircraft is perfectly suited for Europe, both as a business aircraft with comfortable seating for four people and their luggage, and for personal use with a range of some 1,250 nautical miles (2,315 km), allowing fast, convenient trips to anywhere in Europe in a matter of hours.”
The 400 Corvalis TT is the world’s fastest fixed-gear single-engine piston aircraft with a top speed of 235 knots (435 km/hr) and a service ceiling of 25,000 feet (6,620 m).
The 400 Corvalis TT is produced by Cessna at its facility in Bend, Ore., formerly the Columbia Aircraft Manufacturing Co. Cessna acquired certain assets of the company in December 2007. Since then, in addition to making a number of significant improvements to the aircraft and its global product support, Cessna recently renamed the Cessna 400 and 350 as the 400 Corvalis TT (twin turbo) and the 350 Corvalis.
Based on unit sales, Cessna Aircraft Company is the world’s largest manufacturer of general aviation airplanes. In 2008, Cessna delivered 1,301 aircraft, including 467 Citation business jets, and reported revenues of about $5.662 billion. Cessna has a backlog of $14.5 billion as of December 31, 2008. Since the company was originally established in 1927, some 192,000 Cessna airplanes have been delivered around the world, including more than 5,700 Citations, making it the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at http://www.cessna.com.
Textron Inc. is a $14.2 billion multi-industry company operating in 28 countries with approximately 42,000 employees. The company leverages its global network of aircraft, defense and intelligence, 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, Textron Systems and Textron Financial Corporation. 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: changes in worldwide economic and political conditions that impact demand for our products, interest rates and foreign exchange rates; the interruption of production at our facilities or at our suppliers’ facilities; the timing of new product launches and certifications of new aircraft products; the occurrence of slowdowns or downturns in customer markets in which our products are sold or supplied; changes in aircraft delivery schedules or cancellation of orders; the launching of significant new products or programs which could result in unanticipated expenses; changes in national or international government policies on the export and import of commercial products; and bankruptcy or other financial problems at major suppliers that could cause disruptions in our supply chain.