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WICHITA - The Federal Aviation Administration (FAA) has granted type certification to the Cessna Citation Ascend business jet, Textron Aviation Inc. announced Wednesday. The aircraft, part of Textron Inc. (NYSE:TXT), is expected to enter service later this year. The announcement comes as Textron, a prominent player in the Aerospace & Defense industry with a market capitalization of $14.15 billion, continues to strengthen its aviation portfolio. According to InvestingPro data, Textron shares are currently trading at $80.27, with analysts suggesting the stock may be undervalued compared to its Fair Value.
The certification follows a comprehensive flight test program in which two test aircraft completed more than 1,000 flight hours. The midsize business jet features a new cockpit with Garmin G5000 avionics, improved performance capabilities, and a flat floor cabin design.
"The Citation Ascend's successful flight test program reflects our teams' expertise in obtaining FAA certification while designing and delivering the best aviation experience for our customers," said Chris Hearne, senior vice president of Engineering & Programs at Textron Aviation.
The aircraft is powered by two Pratt & Whitney Canada PW545D engines, providing a maximum speed of 441 ktas (817 km/h) and a maximum range of 1,940 nm (3,593 km). It can be configured to accommodate up to 12 passengers.
The Citation Ascend joins Textron's 560XL series, which has delivered more than 1,000 aircraft since 2000. The new model incorporates features from the company's Citation Latitude and Citation Longitude, including the flat floor cabin design for increased passenger comfort.
Additional features include larger cabin windows, advanced acoustic treatment, multiple charging options including wireless phone charging, and standard GoGo U.S. Avance L3 Max Wi-Fi.
The aircraft also comes equipped with an unattended Honeywell RE100 [XL] Auxiliary Power Unit with self-management capabilities, allowing for more efficient cabin preparation with reduced fuel consumption and noise.
This information is based on a press release statement from Textron Aviation.
In other recent news, Textron Inc. reported its third-quarter 2025 earnings with an adjusted earnings per share (EPS) of $1.55, exceeding analysts' expectations of $1.46. However, the company faced a shortfall in revenue, bringing in $3.6 billion compared to the anticipated $3.7 billion. In addition to their earnings report, Textron announced the issuance and sale of $500 million in principal amount of 4.950% notes due March 15, 2036. This financial move was executed under Textron’s existing shelf registration statement, which became effective in February 2023. The offering was managed by major financial institutions, including Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC. These developments highlight Textron's recent financial activities and adjustments in response to market conditions.
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