Cites Issues With The Development Of The Safran Silvercrest Engine

Textron will not be flying its largest business jet, the Hemisphere, later this year as had originally been planned.

In an earnings conference call with aviation analysts Wednesday, Textron CEO Scott Donnelly said the delay was due to problems with the Safran Silvercrest engine, according to a report from The Wichita Eagle. "I think everybody knows there have been some issues around the engine that was slated for that aircraft," Donnelly said. "At this point we have basically suspended the program and are waiting to see how the engine plays out. And then based on that, we'll make our decisions and move forward knowing what the performance of the engine is."

Textron introduced the Hemisphere at the NBAA-BACE conference in Las Vegas in 2015. According to a Textron spokesperson, the delay will have "no impact on employment" in Wichita.

The delay was not entirely unexpected, according to JetNet iQ aviation Rolland Vincent. He told The Eagle that he believes that Textron is not using the engine issue as a reason to scrap the project. "The market is still there ... and they have the luxury of time," he told the paper.

Dassault Aviation cancelled its Falcon 5X program earlier this year because of ongoing issues with the development of the Silvercrest engine.

The Hemisphere would be Cessna's largest and longest-range variant of the Citation family, with seating for up to 12 passengers and a range of 4,500 nautical miles.

According to Textron's latest earnings report, released Wednesday, revenues at Textron Aviation of $1.1 billion were down $153 million from last year’s second quarter, primarily due to lower volume and mix across the commercial turboprop and defense product lines.

• Textron Aviation delivered 46 jets, down from 48 last year, and 34 commercial turboprops, down from 47 last year.
• Segment profit was $105 million in the second quarter, up $1 million from a year ago as favorable performance was offset by the lower volume and mix.
• Textron Aviation backlog at the end of the second quarter was $1.9 billion.

Bell Helicopter revenues were $771 million, down 7% from last year, primarily on lower military volume.

• Bell delivered 53 commercial helicopters in the quarter, down from 57 last year.
• Segment profit of $103 million was down $14 million, primarily due to the lower military volume.
• Bell backlog at the end of the second quarter was $6.0 billion.

(Image from file)

FMI: Source report
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