Successful First Flight for Cessna SkyCourier
Textron Aviation Inc., a Textron Inc (NYSE: TXT) company celebrates the successful first flight of their brand new Cessna Skycourier. This brand new utility turboprop marks a major move in the direction of bring new aircraft to the current market. The flight test was the first of many that will determine final figures when it comes to payload, speed, fuel burn, and performance of the aircraft. These test will determine the accuracy of the engineers works and calculations.
In an except found directly on the press release from Textron the president and CEO of Textron Aviation, Ron Draper stated:
“Today was an exciting day for our employees, our suppliers and our customers. The Cessna SkyCourier performed exactly as we expected, which is a testament to the entire team of men and women who worked together to prepare for this day,” said Ron Draper, president and CEO, Textron Aviation.
“I’m proud of the way the team has persevered through disruptions caused by the COVID-19 global pandemic and remained focused on getting us to this point. The Cessna SkyCourier will be an excellent product in its segment due to its combination of cabin flexibility, payload capability, superior performance and low operating costs. Our customers will be very pleased with what they experience from this aircraft.”
The test flight operated from the company’s east campus on beech field airport. The prototype aircraft is one of 5 test articles will continue to conduct tests for the months to come prior to the aircraft being ready for the market.
Chief Test Pilot, Aaron Tobias and Senior test pilot, Corey Eckhart operated the 2-hour and 15-minute flight. “We were very pleased with how the Cessna SkyCourier performed throughout its first flight,” Eckhart said. “It was particularly impressive to see how stable the aircraft handled on takeoff and landing. The Cessna SkyCourier already displays a high level of maturity in its flight characteristics, especially for a first flight. We were able to accomplish everything we wanted on this flight, and that’s an excellent start to the flight test program.”
Air Market Group covered an article a few weeks back of the specification and performance projections for the Cessna Skycourier. The Full article can be seen Click here
The Cessna Skycourier is a versatile and functional aircraft that combines quality performance with low operating costs. The cabin will feature a Garmin G1000 NXi avionics suite and a wide range of customization features in the interior for the operating crew. With a speed of up to 200 ktas and a range of 900 nm it is capable of operate a wide range of routes for both freighter and passenger missions.
Variants of both Cessna Skycouriers will allow for single point pressure refueling which will make turnaround times faster than traditional methods. The Pratt & Whitney Canada PT6A-656C engines will be features in various configurations. This includes the 6,000-pound payload freighter configuration and also the 19-seat passenger version. There are also variations which include mixed cabins combining both freight and passenger in the same cabin.
Cessna SkyCourier First Flight Video
Textron Aviation Inc. Technical Analysis
Textron Inc (NYSE: TXT) has a wide range which price has traded within in the last 2 years. As we look over the range of 2019-2020 the stock remained in a sideways channel for a majority of the year. There was little upwards momentum growth over all.
With the start of 2020 we see a sharp drop down in price value from the global outbreak of the Coronavirus. (TXT) fell down to the lows of only $20 a share. Since then we are seen some support levels be respected with the second touch of price coming back down towards $22.5.
There are orders currently in for the Textron Skycourier that are in the books awaiting for the aircraft to be approved by the FAA for sale. Although the market current for new aircraft is in question they have a large division of their organization set up for service and repairs. As aircraft are sitting and looking to be sold or potential remodeled they may potentially see an increase in sales in their Maintenance and parts department.
The company did not report a loss for Qtr1 2020 which shows that they are still able to remain profitable. In addition to their general aviation line of aircraft that have been strongly performing for decades their introduction into the commercial industry with the new Skycourier has the ability to expand their business to new avenues which they have yet to untap.
From a technical stand point the previous wedge was between $60 and $40. Considering that price has a habit of moving within a $20 price range the current range is between $20 and $40. Sitting near the low of that range the risk towards the upside is reduce when looking retrospectively and taking into considering the previous trading levels and support levels.
As a disclaimer all trade ideas are for education purposes and not meant to be used as financial advise. All investing involve risks, including loss of principal. Past performances do not guarantee future results or success. Stock and Forex markets are volatile and can decline significantly in response to adverse regulatory, market, economic development. Asset allocation and diversification do not eliminate risk. All Content is used for illustrative purposes and for educational use only.
Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products or programs; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; changes in government regulations or policies on the export and import of our products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; performance issues with key suppliers or subcontractors; difficult conditions in the financial markets which may adversely impact our customers’ ability to fund or finance purchases of our products; and continued demand softness or volatility in the markets in which we do business.