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MarketScreener Homepage  >  Equities  >  Nyse  >  Textron Inc.    TXT


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Textron : Multi-aircraft Cessna Citation business jet delivery announced by Textron Aviation and Thrive

11/16/2020 | 11:37am EST

WICHITA, Kan. (Nov. 16, 2020) -Textron Aviation and Las Vegas-based private aviation charter operator, Thrive Aviation, today announced the delivery of three preowned Cessna Citation Sovereign+ business jets.

The midsize Cessna Citation Sovereign+ is designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company.

Thrive Aviation is a private aviation company dedicated to providing proactive service and elevated flight experiences for its guests across North America. With a newly opened corporate headquarters at Henderson Executive Airport, Thrive Aviation's footprint in Las Vegas includes an expanded, private 21,000 square foot hangar at Las Vegas McCarran International Airport.

'The delivery of these Citation business jets is a significant milestone for Thrive, which can now support a greater range of customers and accommodate their every aviation need - a vision we share at Textron Aviation,' said Rob Scholl, senior vice president, Sales and Flight Operations, Textron Aviation. 'We appreciate the work that Thrive does and it's exciting to witness their continued growth as they deliver passenger solutions for various mission profiles.'

'We are proud to carry nearly every Cessna Citation model,' said Curtis Edenfield, CEO, Thrive Aviation. 'We look forward to continuing our growth with Textron Aviation in our future expansion plans.'

By the end of 2020 fourth quarter, Thrive Aviation will boast an impressive offering of 11 Cessna Citation jets. The three Sovereign+ aircraft are currently going through extensive interior and exterior overhauls, including paint to match Thrive Aviation's flagship livery design. These jets will join the company's existing array of aircraft, including two Cessna Citation M2 entry-level jets, four Cessna Citation CJ3+ light-jets, and one Cessna Citation XLS+ midsize business jet.

'Since the global COVID-19 pandemic began, more people are looking to private aviation as a means of traveling while limiting the spread of the virus,' continued Edenfield. 'The delivery of these new aircraft will help us support increased demand and provide our clients with the well-being and peace of mind they seek for their families and businesses.'

Out of any OEM in the industry, Cessna Citations make up the majority of charter flights worldwide. With nearly 500 charter flights year-to-date, Citations continue to be the aircraft of choice for private jet operators. With class-leading amenities, performance and efficiency, Citations make great platforms for missions from charter to special missions.

With the broadest product line up in the industry, Cessna and Beechcraft products provide a wide range of platforms for those exploring the benefits of private aviation. From providing charter operators with aircraft to support their customers, to offering whole aircraft ownership solutions- Textron Aviation strives to find its customers the best solution to fit their needs.

'As individuals look toward private aviation as an alternative to commercial travel at a time when health and wellness are of the utmost importance, we pride ourselves on the ability to offer a wide range of aircraft to support the varying needs of individuals, businesses, charter and special missions operators,' continued Scholl.

The current Citation business jet family consists of seven models with seating configurations between seven to 12 passengers. The entry-level M2, comfortable CJ3+ and versatile CJ4 light jets all offer upgraded efficiencies with added speed and range while the best-selling midsize jet, the Cessna Citation Latitude and flagship Cessna Citation Longitude round out Cessna's lineup of jets, providing customers with an aircraft fit for nearly ever mission.

About Textron Aviation
We inspire the journey of flight. For more than 90 years, Textron Aviation Inc., a Textron Inc. company, has empowered our collective talent across the Beechcraft, Cessna and Hawker brands to design and deliver the best aviation experience for our customers. With a range that includes everything from business jets, turboprops, and high-performance pistons, to special mission, military trainer and defense products, Textron Aviation has the most versatile and comprehensive aviation product portfolio in the world and a workforce that has produced more than half of all general aviation aircraft worldwide. Customers in more than 170 countries rely on our legendary performance, reliability and versatility, along with our trusted global customer service network, for affordable and flexible flight.
For more information, visit www.txtav.com | www.defense.txtav.com | www.scorpionjet.com.

About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, 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, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation + Training. For more information, visit: www.textron.com.

Media Contact:
Christina Chamberlain

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements 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 statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements.


Textron Inc. published this content on 16 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 November 2020 16:36:00 UTC

© Publicnow 2020
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Sales 2020 11 401 M - -
Net income 2020 288 M - -
Net Debt 2020 1 440 M - -
P/E ratio 2020 39,1x
Yield 2020 0,16%
Capitalization 11 201 M 11 201 M -
EV / Sales 2020 1,11x
EV / Sales 2021 0,98x
Nbr of Employees 32 200
Free-Float 99,4%
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Average target price 46,25 $
Last Close Price 48,94 $
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Scott C. Donnelly Chairman, President & Chief Executive Officer
Frank T. Connor Chief Financial Officer & Executive Vice President
Kimberly A. Mackenroth Chief Information Officer & Vice President
Kathleen M. Bader Lead Independent Director
Paul Ernest Gagné Lead Independent Director
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