WICHITA, Kan., Sept. 19 /PRNewswire/ -- Raytheon Aircraft's new Premier I
entry-level business jet is expected to achieve Federal Aviation
Administration certification in the fourth quarter of 2000. Customer
deliveries will begin immediately following certification.
The Premier I certification program is approximately 90 percent complete
based on completion of flight test conditions. Four aircraft are being used
in the certification process.
"We are very pleased with the Raytheon Premier I, although the
certification process has taken longer than we would have liked," said Hansel
Tookes, Raytheon Company executive vice president and Raytheon Aircraft
chairman and CEO. "This is a superb aircraft that has already met or exceeded
its cruise speed, range and payload guarantees. Premier I owners will be
delighted with their aircraft, and it will be an outstanding addition to the
Raytheon Aircraft product line."
The $4.8 million Raytheon Premier I offers a six-passenger mid-size cabin
in an entry-level jet. The company previously announced plans to accelerate
the production line rate to 60 aircraft per year.
Raytheon Aircraft, a subsidiary of Raytheon Company (NYSE: RTNA, RTNB), is
based in Wichita. The company designs, manufactures, markets and supports
jet, turboprop and piston-powered aircraft for the world's commercial,
military, and regional airline markets. It offers a total air transportation
solution, comprised of aircraft manufacturing, new and used aircraft sales,
special mission capability, aircraft fractional ownership, an extensive
network of fixed-base operations, worldwide parts distribution, and charter
and management services. Raytheon Aircraft had revenues of $2.7 billion in
1999.
Raytheon Company, based in Lexington, Mass., is a global technology leader
that provides products and services in the areas of commercial and defense
electronics, as well as the Raytheon Aircraft business. Raytheon has
operations throughout the United States and serves customers in more 70
countries.
Certain statements made in this news release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995 regarding the company's future plans, objectives, and expected
performance. Specifically, statements that are not historical facts,
including statements accompanied by words such as "expect," "intend," or
"plan" are intended to identify forward-looking statements and convey the
uncertainty of future events or outcomes. The company cautions readers that
any such forward-looking statements are based on assumptions that the company
believes are reasonable, but are subject to a wide-range of risks, and there
can be no assurance that actual results may not differ materially. FAA
certification is subject to the satisfactory completion of all required
conditions and could be further delayed due factors such as inclement weather
and/or unscheduled maintenance events, among other things. Further
information regarding the factors that could cause Raytheon Aircraft Company's
actual results to differ materially from projected results can be found in
Raytheon Company's reports filed with the Securities and Exchange Commission,
including "Item 1-Business" in the company's Annual Report on Form 10-K for
the year ended December 31, 1999.
Contact:
Kevin O'Hara
(316) 676-7603
http://www.raytheonaircraft.com
SOURCE Raytheon Aircraft
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Related links:
http://www.raytheon.com
CONTACT:
Kevin O'Hara of Raytheon Aircraft,
316-676-7603
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