Textron Aviation announces order from Fly Alliance for up to 20 Cessna Citation business jets

Rhea-AI Summary

Textron Aviation has signed a purchase agreement with Fly Alliance for up to 20 Cessna Citation business jets, including four firm orders and options for 16 more. The first delivery of the XLS Gen2 jet is anticipated in 2023, aimed at enhancing Fly Alliance's luxury private charter services. This order strengthens the existing relationship between Textron and Fly Alliance, with plans to build the fleet to 100 aircraft in the near future. The Citation XLS Gen2 offers significant upgrades and performance efficiencies, reinforcing Textron's commitment to customer-focused aircraft design.

Positive

• Secured order for up to 20 Cessna Citation jets, including 4 firm orders and options for 16.
• Strengthens relationship with Fly Alliance, enhancing customer service capabilities.
• Citation XLS Gen2 features upgrades that could attract more customers and drive sales.

Negative

• Dependence on Fly Alliance's success in luxury charter services may impact Textron's revenue if Fly Alliance faces challenges.

ORLANDO, Fla.--(BUSINESS WIRE)-- Textron Aviation today announced during the National Business Aviation Association’s Business Aviation Convention & Exhibition (NBAA-BACE) that it has entered into a purchase agreement with Fly Alliance for up to 20 Cessna Citation business jets, four firm with options for 16 additional aircraft. Fly Alliance will use the aircraft for its luxury private jet charter operations and expects to take delivery of the first aircraft, an XLS Gen2, in 2023.

The Cessna Citation XLS Gen2 . (Photo: Business Wire)

Cessna Citation business jets are designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company.

“This order is an important step in Textron Aviation’s continued relationship with Alliance Aviation Group, now Fly Alliance,” said Lannie O’Bannion, senior vice president, Global Sales and Flight Operations, Textron Aviation. “Fly Alliance set out with the goal of improving the private charter experience, so it only makes sense to bring the Citation XLS Gen2 into their fleet. It’s the latest version of our popular midsize jet that features comfort and productivity upgrades while retaining the model’s winning combination of performance and efficiencies.”

Fly Alliance, headquartered in Orlando, Florida, offers jet card and on-demand Part 135 charter services as well as maintenance, parts, sales and acquisitions. Fly Alliance’s fleet of managed and charter aircraft are based in Orlando, Stuart, Palm Beach and Miami, Florida, as well as Providence, Rhode Island. The company's fleet includes six Hawker 800XP aircraft. This will be their first Citation.

“The Fly Alliance acquisition of up to 20 brand new aircraft from Textron Aviation expands our product offering to our members and customers,” said Kevin Wargo, CEO of Alliance Aviation Group. “This is an excellent path to building our fleet size to 100 aircraft in the years to come.”

About the Cessna Citation XLS Gen2
The Cessna Citation XLS Gen2 is the latest model of the Citation 560XL midsize business jet series, which began with the introduction of the Citation Excel in 1998. More than 1,000 560XLs have been delivered throughout the past 25 years. Business owners, fractional owners and charter operators have consistently chosen the Citation 560XL series more than any other aircraft in the midsize category since its introduction.

Textron Aviation first unveiled plans for the Citation XLS Gen2 during the October 2021 National Business Aviation Association - Business Aviation Convention & Exhibition, representing Textron Aviation’s continuing commitment to enhance and redesign aircraft around customer needs. The company achieved Federal Aviation Administration (FAA) type certification and began deliveries in May 2022 of the upgraded version, which was shaped by extensive customer feedback and focused on technology and design.

Among the Citation XLS Gen2 updates are:

• A new lighted airstair door to elevate the aircraft’s ramp presence
• Addition of an entry curtain for inclement weather protection on the ground and improved cabin acoustics in flight
• Improved cabin lighting with new accent lights and control interfaces
• Elegant styling and materials throughout the interior
• New pedestal seat design enhances passenger comfort with individual controls
• Optional quilting on seats
• Forward couch features an optional fold-down capability, which allows passengers to access more baggage in flight
• State-of-the-art intuitive wireless cabin management system with a touchscreen moving map monitor
• Wireless charging
• USB charging ports at each cabin seat
• Optional Bongiovi Immersive speaker-less sound system

The Citation XLS Gen2 equips operators with speeds of up to 441 knots (817 kilometers/ hour) with a maximum range of 2,100 nautical miles (3,889 kilometers), a takeoff field length of 3,600 feet (1,097 meters) and climbs to 45,000 feet (13,716 meters) in 30 minutes. While maintaining key performance specifications, the XLS Gen2 also includes increased payload capabilities and meets Stage 5 maximum noise level requirements.

About Textron Aviation
We inspire the journey of flight. For more than 95 years, Textron Aviation Inc., a Textron Inc. company, has empowered our collective talent across the Beechcraft, Cessna and Hawker brands to design and deliver the best aviation experience for our customers. With a range that includes everything from business jets, turboprops, and high-performance pistons, to special mission, military trainer and defense products, Textron Aviation has the most versatile and comprehensive aviation product portfolio in the world and a workforce that has produced more than half of all general aviation aircraft worldwide. Customers in more than 170 countries rely on our legendary performance, reliability and versatility, along with our trusted global customer service network, for affordable and flexible flight.

For more information, visit www.txtav.com | www.defense.txtav.com | www.scorpionjet.com.

About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation + Training. For more information, visit: www.textron.com

About Fly Alliance
Fly Alliance is an Orlando, Florida-based aircraft management, sales, charter and maintenance company with additional operations in Stuart, Palm Beach and Miami, Florida, as well as Providence, Rhode Island. The Fly Alliance brand was formed in 2019 for Alliance Aviation Group and its companies.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, changes in aircraft delivery schedules or cancellations or deferrals of orders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221018006122/en/

Media Contact:

Keturah Austin

+1.316.249.3706

kaustin@txtav.com

txtav.com

Source: Textron

FAQ

What is the purchase agreement between Textron Aviation and Fly Alliance about?

Textron Aviation has entered into a purchase agreement for up to 20 Cessna Citation business jets with Fly Alliance.

When will Fly Alliance receive its first Cessna Citation aircraft?

Fly Alliance is expected to take delivery of its first Cessna Citation XLS Gen2 aircraft in 2023.

How many aircraft are included in the Textron Aviation and Fly Alliance deal?

The deal includes four firm orders for Cessna Citation business jets, with options for an additional 16 aircraft.

What is significant about the Citation XLS Gen2?

The Citation XLS Gen2 features upgrades for comfort and performance, aimed at enhancing the private charter experience.

What are Fly Alliance's future plans with their fleet?

Fly Alliance aims to expand its fleet size to 100 aircraft in the coming years.

What is the stock ticker for Textron Inc.?

The stock ticker for Textron Inc. is TXT.