DAYTONA BEACH, Fla., Feb. 25, 2011 — Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, today signed an agreement with Embry-Riddle Aeronautical University naming Cessna as the school's exclusive supplier of single-engine non-complex aircraft.
This agreement covers the next six years, 2011-2017, and is similar to an agreement signed in 1997 that resulted in ERAU purchasing 196 Cessna Skyhawks from 1997 through 2010. Cessna and ERAU estimate that the new agreement could lead to orders for more than 50 Skyhawks over its duration.
The Cessna 172 Skyhawk has become the best-selling, most-flown airplane in the world with more than 43,000 delivered. The Skyhawk, produced at Cessna's facility in Independence, Kan., features a Lycoming engine and a Garmin G1000 avionics package.
"We are pleased to expand our relationship with Cessna. The agreement is mutually beneficial and will serve to provide Embry-Riddle with quality training aircraft, scholarships for our students, and joint advertising opportunities. It represents a positive step in strengthening the relationship between the world's leading aviation and aerospace university and a clear leader in the manufacturing of general aviation aircraft," said Dr. John P. Johnson, president of ERAU.
The university, which has been operating Cessna aircraft for 40 years, currently has 68 Cessna aircraft of various models out of a total fleet of 95 aircraft. ERAU aircraft amass nearly 85,000 flight training hours annually.
"Cessna is proud to continue a long-standing and mutually beneficial relationship with Embry-Riddle," said Jack J. Pelton, Cessna's chairman, president and CEO. "The single-engine team at Cessna is committed to providing the reliability and support ERAU needs to meet its vision of innovation and excellence in aerospace education."
The new agreement also includes the purchase of four Cessna Skycatcher light sport aircraft. The Skycatchers have already been delivered, with two going to ERAU's flight team on the Prescott, Ariz., campus and two going to the flight team at the Daytona Beach, Fla., campus.
Founded in 1926, Embry-Riddle Aeronautical University is the world's largest, fully accredited university specializing in aviation and aerospace. ERAU educates more than 34,000 students annually at its two residential campuses, through an extensive network of education centers and through online learning. For more information, visit www.embryriddle.edu.
