Production is beginning to ramp up at Textron Aviation after a month-long strike by the Machinists union—a strike that impacted the Q3 financial results.
On the eve of NBAA-BACE, Textron Aviation has announced the next generation of light jets, including the Cessna Citation M2 Gen3, CJ3 Gen3 and CJ4 Gen3.
The Latitude has been the most delivered midsize jet since it entered service, but a small percentage of the fleet is up for sale relative to other bizjets.
Textron Aviation and sister company, Tru Simulation, have pulled out of exhibiting at the National Business Aviation Association Conference & Exhibition.
The impact of the strike by unionized workers at Textron Aviation, which delivers about 15 business jets a month, will depend on how long the action lasts.
Sticking points are pay, healthcare and job security, union officials say. The current contract expires just after midnight on Monday, Sept. 23, when the strike begins.
Textron Aviation presented its best and final offer of a new four-year labor contract to the machinists union Sept. 18, one which includes a 26% wage increase over the life of the contract. Union leaders recommend acceptance.
As negotiators enter the final stages of labor contract negotiations, Textron Aviation workers are prepared to strike as union leaders say the sides remain far apart on key issues.
Textron received FAA approval for its safety management system implementation plan to support the design and manufacturing of Cessna and Beechcraft aircraft.
The number of used business jets for sale in August 2024 increased 20% from the same time a year and 4% compared to July levels, according to Jefferies.
