February 10, 2010
By Alton K. Marsh
Business jet shipment totals are forecast to continue the current decline well into 2011 before increasing, Textron officials told an investors’ Web conference Feb. 9. Textron is the parent company of Cessna Aircraft Co.
In the meantime, Cessna is preparing upgrades to current models and working quietly on new models that will enter the market when economic conditions improve. No details were provided on either upgrades or new jets. It is expected the $8.75 million Citation CJ4 will be certified in February, allowing deliveries to begin in the spring or early summer. The second production CJ4 is now in flight-testing. The aircraft has a maximum range of 2,000 nm.
Cessna delivered 289 Citation jets in 2009, but expects to deliver only 225 in 2010. Aircraft usage is no longer dropping and shows upward blips that indicates a recovery. The supply of used Citations is decreasing.
Overall, Citations accounted for 65 percent of Cessna’s $3.3 billion in revenues in 2009. Revenues in 2010 are forecast to drop to $3 billion. Piston-engine aircraft represented only four percent of 2009 revenues, while the Caravan single-engine turboprop alone was six percent of total revenues. Parts and service were 18 percent of Cessna 2009 revenues.
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