Cessna Delivers fewer jets in 3Q
Revenues in the third quarter at Cessna Aircraft decreased 41.8 percent, to $593 million, compared with the same period last year, primarily due to delivery of 68 Citations in the three-month period versus “an all-time quarterly high” of 124 jets last year, a drop of nearly 48 percent. Profits at Cessna decreased $206 million due to lower sales volumes and costs associated with idle capacity and temporary plant shutdowns. Backlog at Cessna at the end of the third quarter was $6.9 billion,
a decline of $1.3 billion from the second quarter and $9 billion less than it was just one year ago, a reflection of the 114 cancellations the aircraft manufacturer logged this year.