Cessna: No Plan To Resurrect Citation Columbus

Business Jet Traveler » October 2009
Thursday, October 1, 2009 - 5:00am

Cessna Aircraft is moving on after parent Textron formally canceled the large-cabin Cessna Citation Columbus program. The decision came a little more than two months after Textron suspended development of the widebody jet due to the economic downturn. Textron reported a net loss of $58 million in the second quarter, compared with a $258 million profit in the year-ago period. Revenues were $2.6 billion, down 29 percent from the second quarter of last year.

The company also lowered its revenue forecast for this year from $11 billion to $10.6 billion, mainly because of further reductions in the Cessna Citation production rate, charges to downsize Cessna's workforce and one-time costs to cancel the Columbus.

Share this...

Add your comment:

By submitting a comment, you are allowing AIN Publications to edit and use your comment in all media.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
 

Quote/Unquote

“You want to make sure with a race in which you'll be flying home with other drivers that you don't crash into them. It's happened before, and it can make for a little bit of a tense situation.”