The Costa Citationair

[WheresRocky]

Very very sad. Thoughts go out to the families affected by shares mismanagement.

Looks like 19 more got their marching orders today at CA for a December furlough. Happy f$&king holidays! We are now down to 109 pilots. I heard they thought about furloughing out of seniority do to the high number of cj3 pilots but very few planes. 43 pilots for 5 planes. Anybody else hear this?

 

[Newkem]

Textron to buy Beechcraft for $1.4 billion: report
Fri Dec 20, 2013 5:21pm EST


(Reuters) - Textron Inc (TXT.N), maker of Cessna planes, has agreed to buy aircraft maker Beechcraft for $1.4 billion, the Financial Times reported on Friday, citing unnamed sources.

Textron's shares closed nearly 15 percent higher on the news, ending the day $4.72 higher at $37.29.

Beechcraft emerged from bankruptcy protection in February and hired Credit Suisse to seek buyers for its jet plane business, which has been losing money, according to sources familiar with the effort.

Officials at both Textron and Beechcraft declined to comment.

The two companies have been in discussions for some time but initially had differences about the price and scope of the deal, the sources said.

One source familiar with the M&A market said a Textron-Beechcraft deal was one of many that could be announced in coming weeks. It would be the larger deal after a U.S. budget agreement that experts say could set off the most robust series of mergers and acquisitions in the aerospace and defense sector in years.

"The budget deal has really lit the fuse for a spate of deals that could be announced between now and January 15," said the source, who was not authorized to speak publicly. The deals could range in size, and could even involve a much larger deal at the prime contractor level, said the source.

Rob Stallard, analyst with RBC Capital Markets, said Textron had paid down its debt in recent year and had the capacity to carry out a deal of this size. He said the remaining Beechcraft business should complement that of Cessna.

The increase in Textron's share price showed "investors are indicating that they view this as a 'good deal,'" Stallard wrote in a note to investors.

Textron spokesman David Sylvestre said Textron CEO Scott Donnelly had told analysts on the past two earnings calls that Textron was interested in Beechcraft and was continuing to monitor the situation.

He declined to comment further, noting that it was Textron's policy not to comment on speculative market rumors.

(Reporting by Alwyn Scott and Andrea Shalal-esa; Editing by John Wallace and David Gregorio)

 

[Sparse]

What will they call it? Beechna, cesscraft, or textracessnacraft?

 

[Rubber Ducky]

Csneech

What will they call it? Beechna, cesscraft, or textracessnacraft?

Csneech... "until neither the Plain nor the Star-Bellies knew whether this one was that one... or that one was this one or which one was what one... or what one was who."

 

[C680]

Textron to buy Beechcraft for $1.4 billion: report
Fri Dec 20, 2013 5:21pm EST


(Reuters) - Textron Inc (TXT.N), maker of Cessna planes, has agreed to buy aircraft maker Beechcraft for $1.4 billion, the Financial Times reported on Friday, citing unnamed sources.

Csneech... "until neither the Plain nor the Star-Bellies knew whether this one was that one... or that one was this one or which one was what one... or what one was who."

Will we see an adaptation of The Grinch Who Stole Christmas posted here soon? Certainly there are families who have had a nasty Christmas surprise from the fine folks at TXT this year and in years past.

Gee thanks Textron money guy!

 

[johnsonrod]

With Wheels Up starting Citation operations soon, have any CitationAir pilots been solicited yet? Or are furloughed Netjets pilots being asked first?

Good luck to all!

 

[WheresRocky]

Closure?

Seems this story is finally coming to an end - parked and parted out.

http://news.nationalpost.com/2014/0...right-to-leave-it-where-he-did/?__federated=1


Sad.

 

[FRACTRASH]

It's been extremely disappointing to watch the slow death of such a great company. though, they gave everyone ample time to find a new nest.

 

[DadofSeven]

October 31, is the official "last one out turn off the lights" day. It was fun while it lasted. Just glad I got out 6 months ago after 11 years.

 

[brokeflyer]

its amazing that its legal for a management team to completely ******************** up a company like that.