Jet maker Cessna Targets Fourth-Quarter Aviation Profit on Private Aircraft Rebound

Kabar Medsos – Textron Inc TXT.N expects a profitable fourth quarter for its aviation division on revived demand for private jets, after the maker of Beechcraft and Cessna planes reported a total 48% fall in quarterly profit due to the pandemic, CEO Scott Donnelly said on Thursday. Shares in the company rose more than 7% in morning trade. COVID-19 has battered global demand for travel, but private flights which carry fewer travelers are generally recovering faster than commercial airline traffic, fueling industry orders for pre-owned and new corporate planes. While…

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