With orders lagging for its piston-powered products, Cirrus expects to reposition some of its workforce in developing its Vision single-engine jet. New CEO Brent Wouters calls the Vision Cirrus’ “future engine for growth,” while looking to overseas markets in Indonesia and elsewhere in the Far East for new opportunities to sell SR20 and SR22 piston aircraft. Cirrus has orders in hand for 400 Vision jets, each backed by a $100,000 deposit. The Vision is expected to receive FAA certification by the end of 2011. The target price remains $1 million.
Cirrus Looks to Jet Propel Its Future
Key Takeaways:
- Cirrus is redirecting workforce and strategic focus to its Vision single-engine jet, citing lagging orders for piston aircraft.
- The Vision jet, considered Cirrus's future growth engine, has 400 pre-orders, targets a $1 million price, and expects FAA certification by the end of 2011.
- To boost piston aircraft sales, Cirrus is actively exploring new overseas markets, particularly in the Far East.
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