Bizjet, Turboprop Deliveries Rise at Textron Aviation

Textron Aviation saw slightly higher jet and turboprop deliveries in the first quarter, shipping 34 Citations and 26 Kings Airs, up one each from the same period a year ago, parent company Textron announced today during its quarterly investor conference call. The U.S. accounted for approximately 80 percent of jet and about half of the turboprop shipments, Textron chairman and CEO Scott Donnelly told investors, though he expects the international component for jets to increase somewhat throughout the year.

According to Donnelly, the business aircraft market is “pretty good” so far this year, noting that the momentum seen in the segment last year “took a pause” between January and March but is back on track this month. “We’re starting to see momentum pick up in Europe, and the turboprop market in China is doing well,” he noted. “Still, the U.S. continues to dominate growth in the market.”

Revenues at the aircraft division during the quarter climbed by $40 million year-over-year, to $1.091 billion, while profits edged up $6 million, to $73 million. The backlog, now $1 billion, has eroded by $47 million from the end of last year.

Meanwhile, Donnelly said that R&D expenditures rose in the first quarter as Textron Aviation nears completion of the first Citation Longitude prototype, which is scheduled to fly this summer. The new super-midsize jet is expected to receive FAA certification and enter service in the second half of next year.