Textron’s aviation billings fall sharply in first half
Textron Aviation’s general aircraft billings through the first six months of the year were down more than $120 million, or 9.3 percent, compared to first half of 2014, according to figures released Friday by the General Aviation Manufacturers Association.The association publishes quarterly aircraft shipments and billings for the makers of general aircraft.
August 4, 2015 By The Wichita Eagle
Textron actually shipped more planes in 2015 than in the first half of 2014, with big gains in the piston aircraft segment, particularly the Cessna 172S Skyhawk. But the number of far-more-expensive Citation jets delivered was down slightly, with the biggest drop in the Citation Sovereign jet. Just nine Sovereigns were delivered in 2015 compared to 16 in the first half of last year.
In a conference call with analysts earlier this week, company executives reported that while a change in the mix of jets had lowered revenue in the second quarter, profits had jumped to $88 million, compared with $28 million in the same period in 2014. | READ MORE