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Thu, Mar 18, 2010

Cirrus Bullish On Company Performance in 2010

Wouters: Year Will Be "Potentially Much Better"

In comments to employees, customers and suppliers, Cirrus President and CEO Brent Wouters (pictured) said Wednesday the company is seeing signs of a strengthening market for aircraft sales. He noted that a number of key business measurements suggest stronger performance in 2010 than previously anticipated. 

"We are seeing solid signs that suggest this year could be better - potentially much better - than many are thinking," Wouters said. "Our first-quarter sales are on pace with the results for the first quarter of 2008, a year where we delivered 550 new airplanes. When you couple that level of sales performance with a greatly improved business that - because of our successful restructuring - has cut our breakeven point to less than half its 2008 level, 2010 is on track to be much better than expected. We're pleased with the momentum we're seeing on the sales side, particularly in institutional sales where our focus has already begun to show results such as the 16-airplane order for flight training at Purdue University. We see many more new fleet opportunities on the horizon."
 
"The credit for this improved outlook goes to our employees, our suppliers and all our partners who are helping us find success by making deliberate and significant progress in every area of the enterprise. While much work remains to be done, by pulling together, the Cirrus community is overcoming the economic headwinds and helping us quickly and quietly grow a very strong company."

Among the other encouraging signs for Cirrus:

  • In the first quarter of 2010, aircraft deliveries are trending well above the same period for 2009 and on par with 2008. Nearly 30 new customer aircraft are scheduled to be delivered in March 2010 alone.
  • March 2010 deliveries included the first two aircraft of 16 total for flight training at Purdue University's Department of Aviation Technology, with remaining deliveries to take place in the second and third quarters of 2010.
  • Cirrus has more orders confirmed for both April and May of this year than the company had for the same period in either of the past two years.
  • Cirrus Certified, the pre-owned aircraft division at Cirrus, is also seeing sales return to 2008 levels. Used Cirrus aircraft prices are showing the strongest signs of stabilization in 24 months.
  • Increased global expansion in 2009 is paying significant dividends for Cirrus in 2010 as economies around the world recover at different rates. Year-to-date, total new aircraft deliveries are evenly split between the U.S. and export markets.
  • In January and February, the company received more than 25 new production reservations for its Cirrus Vision personal jet.
  • Business restructuring milestones include reducing inventory by more than 75%, reducing long-term liabilities by more than 20% and reducing annual fixed costs by over 50%.
  • The company continues to innovate in its marketing efforts with a new global partnership with Red Bull Air Race, one of the most dynamic and well-known aviation-related brands in the world.
  • Flight Into Known Icing (FIKI) capability and further enhancements to Cirrus Perspective By Garmin avionics in 2009 helped the SR22 grow its market share to more than 60%.
  • Again in 2009 - the 7th year in a row - the Cirrus SR22 is the world's best-selling 4-place airplane.
FMI: www.cirrusdesign.com

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Debugging Information
ColdFusion Server Enterprise 2023,0,16,330828
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Time Stamp 02-Dec-25 07:38 AM
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User Agent Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)
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In comments to employees, customers and suppliers, Cirrus President and CEO Brent Wouters said Wednesday the company is seeing signs of a strengthening market for aircraft sales.

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