Business Services Industry
Wichita, Kan.-Based Cessna Aircraft Sees Drop in Revenue, Profits.
Knight Ridder/Tribune Business News, October, 2003
By Molly McMillin, The Wichita Eagle, Kan. Knight Ridder/Tribune Business News
Oct. 17--WICHITA, Kan.--Although Cessna Aircraft is seeing some strengthening in the business jet market, it recorded a 26 percent drop in revenue and a 45 percent drop in profit for the third quarter.
The decline was due to lower sales of Citation business jets, Caravans and used aircraft, the company said.
Wichita-based Cessna expects to deliver fewer planes next year than it will this year.
Cessna has been able to sell out of its production of jets for this year -- and now expects to deliver 195 Citations in 2003. That is at the upper end of the 180 to 195 jets it had predicted.
Now Cessna's sales force has turned its attention to next...
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