Financial Times FT.com

New products: Delays to big projects reflect mood of caution

By Rohit Jaggi

Published: May 11 2009 15:35 | Last updated: May 11 2009 15:35

The sombre mood of the sector is reflected in lowered forecasts of deliveries, cancelled orders, and trimmed production capabilities. It is a far cry from the optimism of a year ago.

At the end of last month Kansas-based Cessna announced it would suspend its Columbus programme. The large-cabin, 10-passenger, $27m, continent-linking jet, announced with much fanfare last year, was to sit at the top of the Citation range and was expected to add 1,000 jobs. The 10-passenger, $27m jet was also expected to generate $1bn of revenues a year.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this