Zurich / Switzerland, December 21, 2012 – Jet Aviation has agreed to sell its Dusseldorf, Germany, and Zurich, Switzerland maintenance, repair and overhaul (MRO) operations to Cessna Aircraft Company, a Textron Inc. company. The transaction is expected to be completed by the end of 2012. Terms of the transaction are confidential. Jet Aviation will continue to own and operate its fixed-base operations (FBO) divisions at Dusseldorf and Zurich.
Yesterday Jet Aviation entered into purchase agreements to sell the operations to Textron subsidiaries in Germany and Switzerland who will acquire them on behalf of Cessna. Upon closing, all Jet Aviation MRO employees in Dusseldorf (180) and Zurich (126) will become employees of Cessna Aircraft Company (through the Textron subsidiaries).
Jet Aviation will continue to operate its existing FBO facilities in Dusseldorf and Zurich, providing flight handling, refueling, passenger and crew transportation, catering and hotel accommodations and immigration and customs services.
“Our MRO employees at these facilities have helped Jet Aviation build its reputation for outstanding service and professionalism among Cessna customers. The acquisition by Cessna will provide the two MRO facilities and employees new opportunities as a strategic part of the Cessna support organization,” said Dan Clare, president of the Jet Aviation group. “Jet Aviation will continue to service its customers from our regional MRO hubs in Basel, Switzerland; Dubai, U.A.E.; Singapore; and St. Louis, Mo., USA, and to provide line maintenance services at key Jet Aviation FBO locations worldwide.”
“Jet Aviation’s Dusseldorf and Zurich MRO operations have been premier Cessna Authorized Service Facilities for decades, providing high-quality maintenance services to mostly European customers, “ says Joe Hepburn, senior vice president, Customer Service. “The two Jet Aviation maintenance operations fit perfectly within Cessna’s strategy to grow its global presence and will increase the number of Cessna-operated Citation Service Centers internationally to seven, complementing facilities in Doncaster Sheffield, UK; Paris, France; Prague, Czech Republic; Valencia, Spain; and Singapore, as well as an extensive network of authorized service facilities throughout the world.”
Jet Aviation Dusseldorf and Zurich were founded in 1975 and 1969, respectively. The two operations are Cessna Authorized Service Centers and offer complete maintenance, repair and overhaul, avionics, refurbishment and FBO services. Jet Aviation Dusseldorf holds EASA #DE.145.0011 and FAA #J7QY399Y repair station approval and is also a Hawker Beechcraft, Embraer and Piaggio Authorized Service Center. Jet Aviation Zurich is an EASA #CH.145.0202 and FAA #CR5Y789M authorized repair station and also a Hawker Beechcraft Authorized Service Center.
Jet Aviation, a wholly owned subsidiary of General Dynamics (NYSE: GD), was founded in Switzerland in 1967 and is one of the leading business aviation services companies in the world. More than 4,500 employees cater to client needs from 22 airport facilities throughout Europe, the Middle East, Asia and North and South America. The company provides maintenance, completions and refurbishment, engineering, fixed base operations, along with aircraft management, charter services, aircraft sales and personnel services. Jet Aviation's European and U.S. aircraft management and charter divisions jointly operate a fleet of more than 250 aircraft. Please visit www.jetaviation.com and follow us on twitter: http://twitter.com/jetaviation
Cessna is the world’s leading general aviation company. Since its inception in 1927, Cessna has designed, produced and delivered more than 193,500 airplanes around the globe. This includes more than 6,300 Citation business jets, making it the largest fleet of business jets in the world. Today, Cessna has two principal lines of business: aircraft sales and aftermarket services. Aircraft sales include Citation business jets, Caravan single-engine utility turboprops, single-engine piston aircraft and lift solutions by CitationAir. Aftermarket services include parts, maintenance, inspection and repair services. In 2011, Cessna delivered 689 aircraft, including 183 Citation business jets, and reported revenues of $2.990 billion. More information about Cessna Aircraft Company is available atcessna.com.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.
More information about General Dynamics is available online at www.generaldynamics.com.