WICHITA, Kan. - Textron Aviation Inc., a subsidiary of Textron Inc . (NYSE:TXT), has completed the delivery of the first two Beechcraft King Air 260 aircraft to the U.S. Navy, the company announced on Monday. These aircraft are part of a contract for up to 64 Multi-Engine Training System (METS) aircraft that Textron is set to provide to Naval Air Systems Command (NAVAIR).
The new T-54A model aircraft will replace the Navy's aging T-44C Pegasus fleet at Naval Air Station Corpus Christi. The T-44C has been in operation for over four decades. The T-54A, a variant of the twin-engine Beechcraft King Air 260, is intended to modernize the training fleet and more closely align with the advanced aircraft that students will operate in the future.
Equipped with an updated avionics suite and automation qualities, the T-54A is designed to provide a higher level of training to prepare aviators for the complexities of modern flight operations. Bob Gibbs, vice president of Special Missions Sales at Textron Aviation, emphasized the company's long-standing 47-year relationship with the U.S. Navy in providing aircraft for multi-engine flight training.
The METS-specific capabilities of the T-54A include factory options such as TACAN (Air-to-Air), angle-of-attack (AOA) indicators, V/UHF radio, digital audio system, engine trend monitoring, and full-face oxygen masks, among others.
Textron Aviation's affiliate, TRU Simulation + Training Inc., was also awarded a contract earlier this month to deliver a comprehensive METS Ground Based Training System (GBTS). This system will include three Unit Training Device (UTD) simulators, one Operational Flight Trainer (OFT), one Simulator Support Station (SSS), and 21 Desktop Trainers.
The Beechcraft King Air series is noted for its role in various capacities, including commercial and special missions. The King Air 260 model features advanced technology such as the IS&S ThrustSense Autothrottle system and a digital pressurization controller, designed to enhance pilot experience and passenger comfort.
Textron Aviation, with a history of over 95 years in the industry, offers a diverse range of products including business jets, turboprops, and military defense products. The company is recognized for its extensive global customer service network and versatile aviation portfolio.
This news is based on a press release statement from Textron Aviation.
InvestingPro Insights
As Textron Aviation Inc. (NYSE:TXT) continues to make strides in the aviation industry with its recent delivery of Beechcraft King Air 260 aircraft to the U.S. Navy, the company's financial health and market performance are of interest to investors. Textron's market capitalization stands at a robust $17.96 billion, reflecting its significant presence in the aerospace sector.
An important indicator of a company's profitability is its P/E ratio. Textron is currently trading at a P/E ratio of 20.31, with an adjusted P/E ratio for the last twelve months as of Q4 2023 at 17.54. This suggests that investors are willing to pay a higher price for Textron's earnings, potentially due to expectations of future growth or the company's strong market position.
InvestingPro Tips indicate a strong return over the last three months with a 17.71% price total return, highlighting the company's recent positive market performance. Additionally, Textron has been profitable over the last twelve months, which aligns with analysts' predictions that the company will remain profitable this year.
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