What Happened
Third Quarter Revenue Rises 14 Percent to $1.7 Billion
Textron Aviation reported a 21% increase in Cessna Citation deliveries in the third quarter, with 51 jets handed over to customers. Revenue rose 14% to $1.7 billion, driven by higher aircraft sales and aftermarket parts and services. The company’s backlog stood at $8 billion as of September 30. According to Aviation International News, Textron Aviation’s CEO Lisa Atherton attributed the demand to investments in added aircraft capabilities and high demand for flying hours.