Wired News – Textron Aviation Launches Cessna SkyCourier – a New Large-Utility Turboprop; Bags Order of 50 Aircrafts from FedEx

Stock Monitor: Tel-Instrument Electronics Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 30, 2017 / Active-Investors issued a free report on Textron Inc. (NYSE: TXT), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=TXT as the Company’s latest news hit the wire. On November 28, 2017, Textron Aviation Inc., a unit of Textron Inc., launched its Cessna SkyCourier 408 aircraft. The Cessna SkyCourier 408 is the Company’s new twin-engine, high-wing, large-utility turboprop. The Company has already received its first launch order from FedEx for 50 clean-sheet design Cessna SkyCourier 408 aircrafts. Sign up now for our free research reports at:

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Active-Investors.com is currently working on the research report for Tel-Instrument Electronics Corp. (NYSE AMER: TIK), which also belongs to the Industrial Goods sector as the Company Textron. Do not miss out and become a member today for free to access this upcoming report at:

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Sharing his enthusiasm on the launch and receipt of order from FedEx, Scott Ernest, President and CEO of Textron Aviation, commented:

“With our depth of expertise and proven success in new product development, we were eager to work directly with a world-class Company like FedEx Express to jointly develop the Cessna SkyCourier. The aircraft will fulfill a gap in this market segment with its superior performance and low operating costs in combination with the cabin flexibility, payload capability and efficiency only a clean-sheet design can offer.”

About Cessna SkyCourier

The all new Cessna SkyCourier™ turboprop has been designed for fully loaded high frequency operations and maximum efficiency. The aircraft comes in two variants – cargo and passenger. The cargo variant will have a large cargo door and a flat floor cabin that is sized to handle up to three LD3 shipping containers and 6,000 pounds of maximum payload capability. The aircraft will be able to manage maximum cruise speed of up to 200 ktas and a 900 nautical-mile maximum range. The passenger variant has seating for 19 passengers including the crew. This variant will have passenger doors for smooth boarding as well as large cabin windows for great natural light and views. Both variants will have single-point pressure refueling to enable faster turnarounds. The Cessna SkyCourier is aimed for the large-utility category and will offer greater capability and mission flexibility.

The FedEx Order

FedEx has been a long-time customer of Textron Aviation and had been using the Company’s Cessna Caravan platform as part of its feeder aircraft fleet for the last 30 years.

FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) has signed a purchase agreement with Textron Aviation to acquire 50 Cessna SkyCourier 408 aircrafts with provisions to acquire 50 more units later. FedEx expects the first Cessna SkyCourier 408 aircraft to be delivered in mid-2020 and later expects Textron Aviation to deliver one aircraft per month for the next four years.

Commenting on the order, David L. Cunningham, President and CEO – FedEx Express, said:

“This continues our very successful fleet modernization strategy, which improves our fuel efficiency, reliability and operating costs. We worked closely with Textron Aviation to develop the Cessna SkyCourier 408, which includes several key features that will help us grow our business in small and medium-sized markets, especially in the air freight segment.”

The order is part of FedEx’s plans to modernize its feeder fleet. Textron Aviation will manufacture Cessna SkyCourier 408 aircrafts which are customized for use by FedEx. Each Cessna SkyCourier aircraft will have a twin-engine, high-wing turboprop, a digital cockpit, aft Large Cargo Door (LCD) in 87″ x 69″ size to support container and pallet operations, a flat floor cabin equipped to handle up to three LD3 containers and a 6,000-lb. maximum payload. FedEx plans to replace its single engine Cessna Caravan 208 currently in the FedEx Express feeder fleet with the new Cessna SkyCourier 408. The new aircraft will not only have twice the volumetric capacity of Cessna Caravan 208, but the larger cargo door will help FedEx to provide faster service to its air freight customers who ship to or from smaller markets in its network.

FedEx is on the way to completely modernize its feeder fleet. On November 08, 2017, FedEx had announced the purchase of 30 ATR 72-600F aircrafts with option of buying 20 more ATR aircrafts as part of this strategy. FedEx Express Feeder network serves small and medium-sized markets around the world and consists of over 300 aircraft serving 45 countries. These aircrafts are all under 60,000 pounds maximum gross take-off weight and allows the Company to provide fast, economical service to its customers.

FedEx has a larger fleet over and above the feeder fleet which includes more than 360 aircrafts consisting of Boeing 777s, B767s and B757s, MD11s, MD10s, Airbus 300s, and Airbus 310s.

About Textron Inc.

Textron is a Providence, Rhode Island based multi-industry Company that has a global network of aircraft, defense, industrial and finance businesses. It is mainly known for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Off Road, Arctic Cat, Textron Systems, and TRU Simulation + Training.

Textron Aviation Inc.

Textron Aviation is a leading aviation Company that manufactures aircraft brands like Beechcraft, Cessna, and Hawker. The Company caters to its global clients with its five business segments – business jets, general aviation and special mission turboprop aircraft, high performance piston aircraft, military trainer and defense aircraft, and a complete global customer service organization. Its broad range of products include such best-selling aircraft like Citation business jets, King Air, and Caravan turboprops, and T-6 military trainer aircrafts. Textron Aviation has delivered more than 250,000 aircraft in over 143 countries worldwide.

Stock Performance Snapshot

November 29, 2017 – At Wednesday’s closing bell, Textron’s stock was slightly up 0.96%, ending the trading session at $54.84.

Volume traded for the day: 904.24 thousand shares.

Stock performance in the last month – up 4.26%; previous three-month period – up 11.99%; past twelve-month period – up 19.27%; and year-to-date – up 12.93%

After yesterday’s close, Textron’s market cap was at $14.51 billion.

Price to Earnings (P/E) ratio was at 23.67.

The stock has a dividend yield of 0.15%.

The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense – Major Diversified industry. This sector was up 0.2% at the end of the session.

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