Cessna further suspends Columbus

Middle Eastern buyers of Cessna's Citation Columbus are in-line to receive their share of $50million in deposit refunds as the US planemaker suspends its largest jet programme.

The Columbus is seen to be an ideal jet for the Middle East with it’s good combination of range, cabin size and luggage capacity.

Cessna chief Jack Pelton cited unfavourable economic conditions, following an abysmal first quarter earnings report by parent company, Textron, which revealed a 38% drop in Cessna revenues for the period.

Although back in March the company had said it was going to suspend the project for six months the suspension is now indefinite. Pelton said: “We still feel this is a programme with great potential. And one we will pursue when the market recovers.

“This was a very difficult decision, but critical to sizing our business to the realities of today’s market,” he said.