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Embry-Riddle and Cessna Renew Partnership Agreement
Daytona Beach, FL, and Prescott, AZ, February 25, 2011
Embry-Riddle Aeronautical University today signed an agreement with Cessna Aircraft Company, a Textron Inc. (NYSE: TXT) company, naming Cessna as the school’s exclusive supplier of single-engine non-complex aircraft.
This agreement covers the next six years, 2011-2017, and is similar to an agreement signed in 1997 that resulted in Embry-Riddle purchasing 196 Cessna Skyhawks from 1997 through 2010. Cessna and Embry-Riddle estimate that the new agreement could lead to orders for more than 50 Skyhawks over its duration.
The Cessna 172 Skyhawk has become the best-selling, most-flown airplane in the world with more than 43,000 delivered. The Skyhawk, produced at Cessna’s facility in Independence, Kan., features a Lycoming engine and a Garmin G1000 avionics package.
“We are pleased to expand our relationship with Cessna,” said Dr. John P. Johnson, president of Embry-Riddle. “The agreement is mutually beneficial and will serve to provide Embry-Riddle with quality training aircraft, scholarships for our students, and joint advertising opportunities. It represents a positive step in strengthening the relationship between the world’s leading aviation and aerospace university and a clear leader in the manufacturing of general aviation aircraft.”
The university, which has been operating Cessna aircraft for 40 years, currently has 68 Cessna aircraft of various models out of a total fleet of 95 aircraft. Embry-Riddle aircraft amass nearly 85,000 flight training hours annually.
“Cessna is proud to continue a long-standing and mutually beneficial relationship with Embry-Riddle,” said Jack J. Pelton, Cessna’s chairman, president, and CEO. “The single-engine team at Cessna is committed to providing the reliability and support Embry-Riddle needs to meet its vision of innovation and excellence in aerospace education.”
The new agreement also includes the purchase of four Cessna Skycatcher light sport aircraft. The Skycatchers have already been delivered, with two going to Embry-Riddle’s flight team at the Prescott, Ariz., campus and two going to the flight team at the Daytona Beach, Fla., campus.
Cessna is the world’s leading general aviation company, based on unit sales, with five major lines of business: Citation business jets, Caravan single-engine turboprops, Cessna single-engine piston aircraft, aftermarket services, and lift solutions by CitationAir. In 2010, Cessna delivered 535 aircraft, including 179 Citation business jets, and reported revenues of $2.6 billion. Since the company was originally established in 1927, more than 192,500 Cessna airplanes have been delivered around the world, including more than 6,100 Citations, making it the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at cessna.com.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial, and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at textron.com.
Embry-Riddle Aeronautical University, the world's largest, fully accredited university specializing in aviation and aerospace, is a nonprofit, independent institution offering more than 40 baccalaureate, master's and Ph.D. degree programs in its colleges of Arts and Sciences, Aviation, Business and Engineering. Embry-Riddle educates students at residential campuses in Daytona Beach, Fla., and Prescott, Ariz., and through the Worldwide Campus with more than 150 locations in the United States, Europe, Asia, and the Middle East. The university is a major research center, seeking solutions to real-world problems in partnership with the aerospace industry, other universities and government agencies. For more information, visit http://www.embryriddle.edu, follow us on Twitter (@EmbryRiddle) and facebook.com/EmbryRiddleUniversity, and find expert videos at YouTube.com/EmbryRiddleUniv.