Textron bets on rebound with new Cessna

Chicago

DEVELOPMENT teams are hard at work on a new, under-the-wraps Cessna jet as parent Textron Inc bets the US luxury aviation market is finally emerging from a recession-era collapse.

Growth is back in focus at Textron, which makes Cessnas, Bell helicopters and E-Z-Go golf carts. Scott Donnelly, chief executive officer of the US$12.6 billion manufacturer, is investing in new products and making acquisitions to boost profit.