Mon, Oct 19, 2009
Cautious Optimism That Business Will Improve
Cessna comes to the 62nd NBAA
Meeting and Convention with optimism that the business aviation
market is thawing.
"I'm far from ready to call a turnaround, but we do continue to
see some encouraging developments," said Cessna Chairman, President
and Chief Executive Officer Jack J. Pelton.
"Financing is more readily available, used aircraft inventory is
lowering and prices for used aircraft have increased for the first
time in several quarters. Average Daily Utilization figures for the
Citation fleet have stopped dropping and bookings for maintenance
work are on the rise. We are seeing signs of stabilization and some
indicators that the business jet market is starting to move in a
positive direction. Single engine retail sales have been
particularly strong in recent weeks which is usually a forerunner
for the rest of the product line."
Cessna's static display at Orlando Executive Airport features
the full line of current production Citation business jets: the
Citation X, Citation Sovereign, Citation XLS+, Citation Encore+,
Citation CJ3, Citation CJ2+, Citation CJ1+ and a Citation Mustang.
On Wednesday, Oct. 21 only, a Citation CJ4 will be on hand. An
upward extension of the CJ family, the CJ4 is currently in the
flight test phase of development. The exhibit also will include two
ValuePlus previously owned Citations: a Citation Excel and Citation
V. A Grand Caravan and Cessna Corvalis TT will be on hand to
represent Cessna's line of turboprop and single-engine piston
models.
Citation Mustang
"We're going 'back to basics' this year at NBAA, concentrating
on exhibiting our products at the static display and not having a
booth in the convention hall," Pelton said.
"We do upward of 60 events a year, and NBAA is still one of just
a handful of shows that truly brings people from throughout the
world to one place for business aviation. This is increasingly
important as the international markets seem less frozen than our
domestic market right now, particularly Western Europe and South
America."
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