Textron Aviation remains bullish on Latin American market

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 For the past few years, the market for business aviation in Latin America has been one of the largest in the world for both Beechcraft Corporation and Cessna Aircraft Company. Now that both companies have come together under the banner of Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company, Latin America takes on an even greater level of importance to the world’s largest supplier of general and business aircraft and support.

The significance of the Latin American market for Textron Aviation is emphasized by its extensive 13-aircraft line-up being showcased together for the first time in Brazil at the annual Latin America Business Aviation Convention & Exhibition (LABACE) at São Paulo’s Congonhas Airport Aug. 12-14. Beechcraft and Cessna will be joined at LABCE by their regional partners, TAM Aviação Executiva and Lider Aviação.

“No other aerospace company offers customers in Latin American the range of aircraft and aircraft support from Cessna and Beechcraft represented at this important event,” said Robert Gibbs, vice president, Latin America and Caribbean Sales. “Brazil remains the center of growth in Latin America but the rest of the region, from Mexico to Chile, is flexing its economic muscle and we’re seeing strong interest across our product line that matches the growth.

“To meet the increasing demand, we continue to invest in products that meet the unique requirements across Latin America, and in our customer support network that remains a cornerstone of Textron Aviation’s global reputation,” Gibbs said.

According to industry data, business aviation in Latin America has grown nearly 4 percent in the last year to more than 5,000 business turbine aircraft based in the region. The three largest markets in the region for Textron Aviation products are Brazil, Mexico  and Venezuela.

Buoyed by a dramatic increase in individual wealth in Latin America, powered chiefly by oil production, Textron Aviation companies have seen deliveries to the region rise dramatically in recent years.

“Brazil, Mexico and Venezuela also produce nearly 80 percent of Latin America’s oil, which corresponds to their reliance on business aviation to manage far-flung oil fields,” Gibbs said. “We are also seeing strong GDP growth in most other countries in the region and that is a positive indicator for our industry, and it’s why we continue to invest in new aircraft and enhanced service programs across all of our aircraft platforms.”

Textron Aviation aircraft on display this week at LABACE include the following business jets, turboprops and piston-engine aircraft: Beechcraft King Air 350ER, King Air 350i, King Air 250, King Air C90GTx, Baron G58, Bonanza G36, Cessna Citation Sovereign +, Citation XLS+, Citation CJ4, Citation M2, Grand Caravan EX, Stationair 206 and TTx.

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