Amid slow sales and an $8 million first-quarter loss, Cessna will pause production of several entry-level business jet models and seek to trim its workforce, the company said Wednesday.
Cessna delivered 32 jets in the quarter, down from 38 in the same period last year. Cessna parent Textron’s CEO, Scott Donnelly, noted that light jet sales remain weak as buyers seek out bargains in the used jet market and face continued uncertainty about the health of the economy.
For the complete story by Stephen Pope of Flying Magazine, click here.
