Cessna Revenues Climb, Losses Drop

Signs of a market turnaround growing stronger.

Cessna Aircraft
Cessna Aircraft

Cessna Aircraft showed positive momentum in the first quarter of the year, posting a big revenue increase to go along with reduced losses as the company delivered more airplanes.

Cessna reported $669 million in revenue in the quarter, compared with $556 million a year ago, according to numbers released by parent Textron. Cessna also posted $6 million in losses, down from a loss of $38 million a year ago.

Still, despite signs pointing to a possible turnaround in the market for Cessna's larger business jets, demand for the Mustang remained weak, the company said. Cessna delivered 38 Citation jets in the quarter, compared with 31 a year ago, and reported higher after-market volumes.

Cessna did not report on sales of piston airplanes. Throughout all of last year the company delivered 423 piston airplanes, a figure that included 168 Skycatchers.