TAMPA, Fla., Nov. 5, 2009 - Officials at Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, report an increase in piston aircraft sales over the past two months, thanks in part to sales programs and tax incentives set to expire at the end of the year.
“Retail sales across our piston aircraft product line have been measurably stronger in September and October versus earlier this year and that is a positive development as it relates to the overall outlook for our propeller aircraft business,” said John Doman, vice president, Worldwide Propeller Aircraft Sales. “Customers are taking advantage of the tax savings they can realize before the end of the year under the accelerated or bonus depreciation section of the tax code. In addition, several value-filled sales programs on our Corvalis and Skylane models are helping to bolster customer interest and subsequent purchases of Cessna aircraft.”
“Fleet sales and deliveries have also increased recently as flight schools, academies and special mission customers worldwide are replacing older aircraft with our new technology Cessna aircraft,” Doman said.
Through bonus depreciation, business-related aircraft acquisitions may qualify for accelerated depreciation under a provision in the federal stimulus package passed earlier this year.*
Cessna has extended two of its successful programs through the end of 2009 to coincide with the federal depreciation provision.
“Deal of the Decade” provides a $10,000 fuel card and free synthetic vision technology (SVT) for certain Corvalis sales. The “Deposit Amplifier” program adds $30,000 to a deposit for a new Cessna 182 or T182 Skylane and gives a new customer a choice of one of three technology upgrades for the Garmin G1000 avionics package.
Both programs expire at the end of 2009. Details are available through Cessna’s global network of dealers (locate the nearest Cessna dealer at www.cessna.com).
* New or prospective aircraft buyers should consult a tax professional to see if the federal tax provision applies to their aircraft purchase.
Cessna Finance Corporation (CFC), has initiated a new finance program with lower rates available for Cessna's single-engine piston and Caravan aircraft purchased in 2009.
Cessna Offers Deposit Amplifier for Retail Skylane and Turbo Skylane Aircraft Purchased Through 2009
The program through year end adds $30,000 to a deposit on a retail order for qualifying new Cessna 182 or Turbo 182 Skylane single-engine piston aircraft.
Cessna will exhibit a full line of single-engine piston aircraft.
John Doman: "The good news is that we would expect the piston segment of the general aviation market to be the first to recover and lead the way.”