Could Cessna Aircraft Company be up for sale?
According to a story on Kansas.com, Cessna’s owner, Textron, says it has not ruled out putting the company up for sale to raise cash, but the story also quotes analysts who say it is not likely.
Textron has been hurting due to losses in its financial unit and needs to raise more cash. The story also reports that due to the sluggish economy, a sale of Cessna would be unlikely because it would not bring fair market value for the company.
While Cessna has cut aircraft delivery expectations for this year, the company has announced it will continue development of new products in anticipation of an economic upturn.
Source: Kansas.com
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