First Citation Mustang Delivered

Cessna last week delivered its first Citation Mustang following receipt of the production certificate for the very light twinjet from the FAA. The first Mustang went to Mustang Management Group of Fresno, Calif., which will lease it back to Cessna for 10 months as a sales demonstrator.

Three Private Equity Firms Bidding for Raytheon Aircraft

The Witchita Eagle has reported that the three finalists in the bidding contest for the company are:

1. Carlyle Group of Washington, D.C.,
   
2. Cerberus Capital Management of New York
   
3. Onex Corporation of Toronto are
   

Raytheon Aircraft owns both the Hawker and Beechcraft lines of aircraft.

Hawker produces the:

• Hawker 4000 (newly certified, see below)
• Hawker 900
• Hawker 850
• Hawker 750
• Hawker 400
  

Beechcraft produces the:

• Premier 1A
• King Air 350
• King Air 200
• King Air C90GT (The "VLJ Killer")
  
• Beech Baron
• Beech Bonanza
• AT-6 Texan II (military trainer)
  

Raytheon is said to be asking for $3 billion for the company, oh yeah, and a new jet next year!
I'll continue to provide updates as they become available.

Raytheon Aircraft Company Obtains Hawker 4000 Type Certification

WICHITA, Kan. (Nov. 21, 2006) – Raytheon Aircraft Company has received Federal Aviation Administration Type Certification for the Hawker 4000 super-midsize business jet.

“The Hawker 4000 is the most advanced super-midsize jet in the world today,” said Jim Schuster, chairman and CEO of Raytheon Aircraft Company. He added: “It has the features of a much larger airplane in a super-midsize body with technology that leads the industry in almost every respect. With an intelligent balance of speed, range and payload, through advanced integrated systems and a composite fuselage, the Hawker 4000 is truly a breakthrough aircraft.”

The Hawker 4000 features technology for the 21st century with enhanced situational awareness and flight management systems backed by real-time system monitoring and status. A super-midsize aircraft with long-range aircraft features and benefits, the airplane comes standard with dual IRS (Inertial Reference System) and auto-throttle. The avionics and utility systems are fully integrated, and composite construction provides for lower parts count resulting in enhanced reliability and lower life-cycle costs.

Climb rate is exhilarating, going from sea level to 37,000 feet in just over 14 minutes. Once at altitude, the Hawker 4000 accelerates quickly to its maximum cruise speed of Mach .84. The Pratt & Whitney Canada PW308A engines deliver 6,900 pounds of thrust flat rated to ISA +20 degrees Celsius and, combined with the Hawker 4000’s advanced wing design, provide stunning high/hot and short field performance.

Constructed of advanced composite material, the Hawker 4000 fuselage features a 72-inch stand-up cabin with a 77.5-inch width. A flat floor runs the entire length of the aircraft, leading to a large baggage area. The baggage compartment is accessible on the ground through an exterior door or during flight through the cabin. An eight-place interior configuration is standard with fully-articulating executive seats in double club format. The interior can be completely customized with a wide variety of materials and cabin finishes available.

Citation Mustang Update

It will cost an estimated $2.06 per nautical mile to operate Cessna Aircraft Company’s newly certified Citation Mustang business jet, bringing the speed, range and comfort of owning a jet to more people than ever before at less than the cost of today’s turboprop aircraft (please see attached chart).

Full Federal Aviation Administration (FAA) type certification for the Citation Mustang was awarded Sept. 8, making it the first of a new category of entry level jets to win FAA certification.

The six-place Citation Mustang has a top speed of 340 ktas (nearly 400 miles per hour), a range of 1,150 nautical miles (1,323 statute miles/2,130 km – NBAA IFR Reserves) and a service ceiling of 41,000 feet (12,500 m) – well suited for getting above most weather and commercial traffic for more efficient operations.

Citation Mustang direct operating cost chart

Wichita, Kan., November 9, 2006 – Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, reported today the Federal Aviation Administration (FAA) has cleared the Citation Mustang for flight into known icing (FIKI). Full FAA type certification for the Citation Mustang was awarded Sept. 8, making it the first of a new category of entry level jets to win type certification from the FAA.

“While approval for flight into icing is not required for certification of the airplane, we wanted to have this in place prior to delivering our first Mustang and in advance of this year’s major icing season,” said Cessna Chairman, President and Chief Executive Officer Jack J. Pelton. “Our team strives to get our airplanes into the hands of our customers with all major flight capabilities in place because we know that’s what our customers expect and deserve.”

“The Citation Mustang has met or exceeded every performance objective established when we announced the program in 2002, and we beat the schedule doing it,” Pelton said. “We achieved all FAR requirements for the Mustang’s weight class, and tested the aircraft in many categories to commercial airliner standards, including cyclic testing to five airframe lifetimes – well past the two-lifetime requirement. During flight testing, we successfully achieved more than 2,200 certification test conditions, meeting or exceeding all our program performance goals, including range and speed. There is no question the Mustang represents a first-class Cessna Citation business jet in every way and sets new standards for what this new generation of aircraft will be.”

The six-place Citation Mustang has a top speed of 340 ktas (nearly 400 miles per hour), a range of 1,150 nautical miles (1,323 statute miles/2,130 km – NBAA IFR Reserves) and a service ceiling of 41,000 feet (12,500 m) – well suited for getting above most weather and commercial traffic for more efficient operations.

Rumblings, Bumblings, and Stumblings

Last night I had the opportunity to sit in a book store and have coffee with my VC for hour, that turned into three and a half or four. It is allways interesting to talk with a gentleman who is willing and able to plunck down loads of money on ideas. I try to spend as much time with him as I can just to learn how he thinks and what sort of filters he uses to see the world.

John L. Smith (A Business Jet Blog All-Time Favorite) was fired as Michigan State head football coach this week. I feel good about the Michigan State problem for John L. Get the hell away from there as fast as possible! It is a coaching graveyard! And, if you can make $1.5 million over the next two years from them while being a color analyst or a coach somewhere else, Ye Ha!

No new news this week from the Business Jet front. Apparently all of the PR machines are on vacation this week after the NBAA!

Have a great weekend.

Cessna Aircraft Books 115 Jet Orders Worth More than $1 Billion at NBAA

Providence, RI, October 20, 2006 – Textron Inc. (NYSE: TXT) today reported that its Cessna Aircraft business yielded strong customer orders and new business opportunities resulting from products announced and/or showcased at the National Business Aviation Association (NBAA) convention, held this week in Orlando, Florida.

In total, Cessna received 115 jet orders worth more than $1 billion and expects that these agreements will be finalized and enter backlog. Combined with pre-show agreements, the company has already booked over 160 orders for the fourth quarter.

“Results from this year’s NBAA show are nothing short of impressive,” said Lewis B. Campbell, Textron’s Chairman, President and CEO. “Not only did Textron businesses capture attention with significant news and product announcements, but order intake was notable. These types of results wouldn’t be possible without having a strong customer focus, which have earned both Cessna and Bell high customer service accolades in their respective categories in top industry surveys, including ProPilot Magazine.”

During the show, Cessna unveiled its newest business jet, the Citation CJ4, an extension of the popular Citation line. The CJ4 will offer the strongest performance and payload balance in the Citation CJ series, is configurable for seven to eight passengers in the main cabin and expected to have a cruise speed of 500 miles per hour (435 KTAS). So far, the company has booked 101 CJ4 orders, 25 of which were entered into backlog in the third quarter.

In addition, Cessna displayed its concept mockup of a large cabin business jet and is gathering feedback from customers as part of an overall assessment of the attractiveness and feasibility of developing a jet larger than its current offerings.

Bell Helicopter also showed great success with aircraft orders across its commercial helicopter line, including the 429 and 430 models, and booked 10 new aircraft orders and expects that these agreements will be finalized. The light twin Bell 429 flies farther with more payload than anything else in its class and features the largest open cabin, accommodating two litters and EMS personnel. The world-class Bell 430 seats nine and has a maximum cruise speed of 160 miles per hour (143 KTAS).

In addition to Cessna and Bell’s distinguished presence at NBAA, both Cessna Finance Corporation, a subsidiary of Textron Financial Corporation, and E-Z-GO shared in the show’s success. Cessna Finance Corporation, the global leader in general aviation finance, has financed more than 180,000 fixed wing and rotorcraft aircraft throughout the world and provided financing options to potential customers.

E-Z-GO, manufacturer of the number one selling golf car in the world and a leading provider of industrial, turf and utility vehicles, showcased its efficient and dependable transport vehicles that are utilized for moving passengers, hauling cargo or transporting luggage in the private, commercial and military sectors.

Raytheon Aircraft Company Announces Orders for 112 Aircraft Worth Nearly $1 Billion at NBAA

WICHITA, Kan. (October 27, 2006) – Raytheon Aircraft Company (RAC) today reported strong customer orders resulting from products announced and/or exhibited at the National Business Aviation Association (NBAA) Convention, held last week in Orlando, Fla. RAC received orders for 112 Beechcraft® and Hawker® aircraft worth nearly $1 billion.
“Results from this year’s NBAA show were outstanding,” said Jim Schuster, Raytheon Aircraft Company’s Chairman and CEO. “The introduction of two new Hawker models and strong international interest made this one of our best shows ever.”
During the show, RAC announced two new Hawker variants, the Hawker 900XP and Hawker 750 for the mid-size and light-mid size jet markets. These two products will leverage the success of the Hawker 800-series cabin.
The Hawker 900XP launches Honeywell’s new TFE731-50R engine providing improved hot and high altitude performance with over 2,800 nm NBAA IFR range carrying six passengers allowing it to make a one-stop flight from New York to Honolulu 99.9 percent of the time. It also will have the same cabin size as the Hawker 800-series, the largest and most successful cabin in its class. Featuring a factory-customized interior by the Little Rock Completion Center, and RAC-designed winglets, the 900XP will be well positioned to continue to be the most preferred airplane in the mid-size segment. Standard priced at $13.9 million, certification is expected mid-year 2007 with deliveries to begin in the 3rd Quarter.
Following market analysis and a review of the Hawker product line, it became apparent an opportunity was not being satisfied in the light-mid size jet market. The new Hawker 750 is being developed to satisfy that opportunity, and will be a 2,100 nm NBAA
IFR range airplane with four passengers, strategically positioned with the largest cabin in the light-mid size aircraft segment. It will have the same cabin as the Hawker 800-series, but the ventral fuel tank will be replaced with a heated external baggage compartment with 32 cubic feet of additional baggage capacity. The Hawker 750 cabin, measuring 5’9” in height and 6’0” in width will be far superior in both comfort and size to anything in the light-mid size category. The airplane will continue to use the highly successful Honeywell TFE731-5BR engine and state-of-the-art Collins Pro Line 21 avionics package. The aircraft will feature a new Hawker interior designed specifically for the 750 and for this market segment. Priced at $11.2 million standard and $11.9 million typically equipped in 2007 dollars, certification is planned for Q3 2007 and deliveries will begin in the Fourth Quarter.
Raytheon Aircraft Company designs, manufactures, markets and supports Beechcraft and Hawker aircraft for the world’s commercial and military markets.