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 secured a $113.1 million contract from the U.S. Navy to deliver 10 Beechcraft King Air 260 aircraft for multi-engine pilot training, with potential for up to 64 jets and deliveries starting in 2024.
Beyond the aircraft, the contract encompasses a full support package including spare parts, training for instructor pilots and maintenance personnel, and essential support equipment.
Parent company Textron Inc. reported strong financial performance, with increased revenue and net income for both the fourth quarter and the full year, alongside a significant rise in its aviation division's backlog.

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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.