Navy Awards Textron Aviation $113M Contract for Multiengine Trainers

Textron also saw increases in revenue and net income, it reported in a fourth quarter earnings report.

Jonathan Welsh

Thursday, January 26, 2023 at 04:32 PM ET

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A Beechcraft King Air 260. [Credit: iStock]

Key Takeaways:

Textron Aviation was awarded a $113.1 million contract by the U.S. Navy's NAVAIR to deliver 10 Beechcraft King Air 260 aircraft for its Multi-Engine Training System, with the potential for up to 64 aircraft in total.
The King Air 260s, supported by spare parts and training for pilots and maintenance personnel, will be used for intermediate and advanced pilot training for multiengine military aircraft.
Textron Inc., the parent company, reported increased revenue and net income for both the fourth quarter and the full year, alongside a $2.3 billion growth in its aviation division's backlog to $6.4 billion by the end of 2022.

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Textron Aviation said the U.S. Navy’s Naval Air Systems Command, known as NAVAIR, awarded the company a $113.1 million contract to deliver 10 Beechcraft King Air 260 aircraft for NAVAIR’s Multi-Engine Training System, or METS.

Under the contract, the Wichita, Kansas, unit of Textron is to provide a range of support in addition to the aircraft, including spare parts, training for instructor pilots and maintenance personnel, and certain support equipment.