GLG News Analyses of the following article:

Cessna VP Sees Brighter Days for Jets

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Published at: www.kansas.com

Brian FoleyPresidentBrian Foley Associates

Cessna (TXT) Optimism Premature

March 20, 2009

While we're delighted that Cessna feels the business jet industry has hit bottom, we think it's still a little early to proclaim this.  The industry has historically high numbers of used inventory to sell before customers return to the new airplane arena.  The economy, credit situation and negative public perception of business aviation must also improve before buyers are comfortable enough to part with potentially tens of millions of dollars for a new jet.

Have We Reached the Bottom in Business Aviation

March 17, 2009

Analysis by: GLG Expert Contributor

Cessna has indicated that we may be nearing the bottom of the recession for business aviation.  This conclusion does not match the data from industry drivers, utilization statistics and aircraft available for sale. While able to obtain financing for customers, Cessna indicated that the financing market has tightened considerably.  Others, without an in-house finance unit, have not fared as well. Has the recent focus on executive salaries, bonuses and perks created a negative atmosphere for business aviation that will prevent a short-term recovery?  We believe the negative drumbeat, combined with proposed onerous regulations by TSA, will prolong the industry downturn.