Jet Deliveries Halved, Profits Plunge in Textron's Q1 | Aviation International News

Jet Deliveries Halved, Profits Plunge in Textron's Q1

Textron Aviation delivered 23 jets and 16 turboprops, compared with 44 jets and 44 turboprops in the same quarter last year.

A "revised demand outlook" from NetJets during the first quarter of 2020 was the reason behind a nearly $300 million decline in Textron Aviation's backlog. (Photo: Textron Aviation)

By Jerry Siebenmark • Senior Editor

April 30, 2020

Deliveries, revenue, and profit plunged in the first quarter at Textron Aviation as the Wichita airframer wrestled with the effects of the Covid-19 pandemic and, to a lesser degree, the December accident at its composite manufacturing plant. The manufacturer of Beechcraft and Cessna aircraft delivered 23 Citation jets and 16 turboprops, compared with 44 jets and 44 turboprops in the same quarter last year, leading to a $262 million decline in revenue to $872 million and an even sharper fall of $100 million in profit to $3 million.

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