Bizjet Deliveries Up, King Airs Dip at Textron Aviation

Deliveries at Textron Aviation were mixed last year, with business jets up slightly while King Airs fell nearly 19 percent from 2016. Last year, the Wichita, Kansas-based aircraft manufacturer shipped 180 Citations, up six from 2016, and 86 King Airs, 20 fewer units than in the previous year. During the fourth quarter, jet deliveries were flat year-over-year at 58, while King Airs had a small rally, climbing by three aircraft, to 31.

Revenues and profits at Textron Aviation decreased in both the fourth quarter and for the full year. In the quarter, revenues slid 3 percent from a year ago, to $1.4 billion, while profits sunk $15 million, to $120 million. For the full year, the division recorded $4.686 billion in revenues and $303 million in profits, down from $4.921 billion and $389 million, respectively, in 2016.

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On a brighter note, order intake improved at Textron Aviation in the second half of last year, Textron chairman and CEO Scott Donnelly said recently during an earnings call. He also noted the strengthening global economy, increasing customer inquiries, U.S. tax reform, and a weaker U.S. dollar as positives for the aviation division, which he forecasts will see revenues of $5 billion this year. Textron Aviation’s backlog at the end of the fourth quarter stood at $1.2 billion, up $15 million from the end of the third quarter.