Air Capital Insider

Analyst: Citation Latitude gains orders at NBAA

People line up to view the Cessna Citation Latitude business jet on display during last month’s National Business Aviation Association Convention in Las Vegas.
People line up to view the Cessna Citation Latitude business jet on display during last month’s National Business Aviation Association Convention in Las Vegas. The Wichita Eagle

Textron Aviation took more than half a dozen orders for its new Cessna Citation Latitude business jet at the National Business Aviation Association Convention last month in Las Vegas, according to an analyst.

Wells Fargo Securities analyst Sam Pearlstein wrote in a note to investors this week “… management said TXT sold 8 more Latitude’s at the recent business jet conference.”

A Textron Aviation spokeswoman said the company couldn’t confirm sales numbers from NBAA.

Its parent company, Textron Inc., said the company delivered four of the $16.3 million Latitudes in the third quarter of 2015, following Federal Aviation Administration type certification in June.

Pearlstein also said in the note that Textron Aviation expected to deliver this week its first Latitude from a firm order of 25 of the midsize jet to fractional operator NetJets, first announced in February 2012.

He expects Latitude deliveries to rise in the fourth quarter of 2015 and throughout 2016 because “we saw airplanes being worked on that had tail numbers in the 30’s implying significantly more completed airplanes.”

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