Textron Inc., the maker of Cessna
business jets, expects deliveries to drop as much as 15 percent
next year amid a decline in demand.
The company will deliver 195 business jets in 2003 and 165
to 170 jets in 2004, Textron said in a Business Wire statement.
The Providence-based company said it will discuss
the outlook further during its earnings call on Oct. 16.
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Though Textron is seeing “positive signs” of an improving
business-jet market, the recovery won’t come soon enough to avoid
a drop in deliveries next year, the company said. Cessna is the
world’s biggest maker of business jets.
Profit at Textron has been falling and Cessna laid off
workers this year for the first time in 16 years because of fewer
deliveries of its Citation jets. The company has 28 percent more
jet orders so far this year than the same time last year, which
may indicate an eventual turnaround in deliveries after 2004, a
Textron executive said earlier this week.
Bloomberg News
