Textron Aviation
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| Industry | Aerospace |
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| Founded | 2014 |
| Headquarters | Wichita, Kansas, United States |
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Key people
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CEO: Scott Ernest (2014) |
| Products |
General aviation and military aircraft Brands: Beechcraft Cessna Hawker |
| Revenue | US$4.6B (Cessna and Beechcraft combined, 2013) |
| Owner | Textron |
| Website | www |
Textron Aviation is the general aviation business unit of the American Textron group formed in March 2014 following the acquisition of Beech Holdings which included the Beechcraft and Hawker aircraft businesses. The new business unit includes the Textron-owned Cessna. Textron Aviation will sell Beechcraft, Cessna, and Hawker branded aircraft under common management.
The CEO of Cessna, Scott Ernest, was named as the first CEO of Textron Aviation Incorporated.
Textron completed its purchase of Beech Holdings in March 2014 for approximately US$1.4 billion in cash. The parent company, Textron, financed the equity purchase and the repayment of Beechcraft's debt in cash, plus its issue of US$600 million in senior notes and a new US$500 million five-year term loan.
Once the purchase was completed on March 14, 2014, Textron combined Beechcraft with its existing Cessna subsidiary to form Textron Aviation and brought all production under the new company name. The old companies become brands of the new company due to their historical significance and name recognition.
In January 2017 the company announced lay-offs as a result of falling business jet and turboprop sales and company profits. Textron CEO Scott Donnelly indicated that customers are seeking pricing levels that the company is not willing to support.
Textron Aviation's various lines of aircraft, including the Cessna single engined piston and turboprop aircraft and jets, Beechcraft piston and turboprops and Hawker jets are seen by the company as complimentary to each other and not as competitors. Textron Aviation will also produce the Beechcraft T-6 Texan II trainer and AT-6 light attack variant. The company has over 250,000 existing aircraft in the fleet for which it will provide aircraft parts and engineering support.
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Wikipedia