Textron ‘Formally Cancels’ Cessna Citation Columbus

"The large-cabin Cessna Citation Columbus program has been “formally cancelled,” according to an Form 8-K report parent company Textron filed late last week with the Security Exchange Commission and confirmed today by Cessna officials. The move comes just a little more than two months after Textron’s decision “to suspend the development of the Citation Columbus widebody jet due to prevailing market conditions,” Textron said in the report. (In addition to quarterly Form 10-K reports, companies must file Form 8-K “current reports” to announce major events that shareholders should know about.) “Upon additional analysis of the business jet market related to this product offering, we decided to formally cancel further development of the Citation Columbus,” the company explained." Next.