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MarketScreener Homepage  >  Equities  >  Nyse  >  Textron    TXT

TEXTRON

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Bell Teams Up with Sumitomo Corporation and Japan Airlines to Explore Air Mobility

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02/13/2020 | 11:29am EDT

Fort Worth, Texas - Bell Textron Inc., a Textron Inc. (NYSE: TXT) company, announced a signed memorandum of understanding today with Sumitomo Corporation and Japan Airlines Co., Ltd., to explore Mobility-as-a-Service (MaaS) and to foster the required infrastructure and regulatory environment. This collaboration will inform the development of an on-demand air mobility ecosystem utilizing Bell's air mobility solutions including Bell's Air Taxi, the Nexus 4EX, in Japan.

'We are excited to take this substantial step to bring together an international airline, a major infrastructure provider, and a VTOL OEM to work collaboratively on a more connected mobility future.' said Bell's Scott Drennan, Vice President of Innovation. 'While we are known for our 80 years of creating vertical lift aircraft that move people, goods, and data, we also want to help shape the operational infrastructure in which they will live.'

Sumitomo is a 100-year-old global enterprise based in Japan focused on enriching lives and the world. Sumitomo is working to leverage their broad business portfolio spanning metal products, transportation & construction systems, infrastructure, media & digital, living related & real estate, and mineral resources, energy, and chemicals to support the development of the necessary infrastructure and business use cases for air mobility. 'We have been inspired by Bell's vision and their capability of penetrating into this urban air mobility market,' said Eiji Ishida, Sumitomo's Executive Officer of Lease, Ship & Aerospace Business Division. 'All three companies bring a unique perspective, and we are excited to work together toward this new future.'

Japan Airlines (JAL) is a globally respected, international airline delivering Japanese hospitality worldwide by conducting numerous operations centering on the air transport business and improving customer's convenience. Tomohiro Nishihata, Japan Airlines' Managing Executive Officer of Innovation stated, 'Japan Airlines is eager to explore the future of air travel beyond its existing framework, and we believe this is the right team to set the standard in Japan for future cities to implement urban air mobility systems.'

Together, these companies will develop policy and planning recommendations, identify entry into service use cases and pilot programs, and develop infrastructure requirements that integrate into both current and future transportation systems and city standards to provide safe, accessible and sustainable multi-modal transportation system to our communities.

About Bell

Thinking above and beyond is what we do. For more than 80 years, we've been reimagining the experience of flight - and where it can take us.

We are pioneers. We were the first to break the sound barrier and to certify a commercial helicopter. We were a part of NASA's first lunar mission and brought advanced tiltrotor systems to market. Today, we're defining the future of on-demand mobility.

Headquartered in Fort Worth, Texas - as a wholly-owned subsidiary of Textron Inc., - we have strategic locations around the globe. And with nearly one quarter of our workforce having served, helping our military achieve their missions is a passion of ours.

Above all, our breakthrough innovations deliver exceptional experiences to our customers. Efficiently. Reliably. And always, with safety at the forefront.

About Textron

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation + Training. For more information, visit: www.textron.com.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, changes in aircraft delivery schedules or cancellations or deferrals of orders; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; changes in government regulations or policies on the export and import of our products; volatility in the global economy or changes in worldwide political conditions that adversely impact demand for our products; volatility in interest rates or foreign exchange rates; and risks related to our international business, including establishing and maintaining facilities in locations around the world and relying on joint venture partners, subcontractors, suppliers, representatives, consultants and other business partners in connection with international business, including in emerging market countries.

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
JAPAN AIRLINES CO., LTD. -3.82% 1990 End-of-day quote.-3.56%
SUMITOMO CORPORATION -3.62% 1239 End-of-day quote.-2.33%
TEXTRON -1.45% 24.5 Delayed Quote.-44.26%
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Financials (USD)
Sales 2020 13 317 M
EBIT 2020 1 101 M
Net income 2020 776 M
Debt 2020 2 114 M
Yield 2020 0,33%
P/E ratio 2020 6,83x
P/E ratio 2021 6,10x
EV / Sales2020 0,58x
EV / Sales2021 0,53x
Capitalization 5 577 M
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 47,25  $
Last Close Price 24,50  $
Spread / Highest target 165%
Spread / Average Target 92,9%
Spread / Lowest Target 6,12%
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NameTitle
Scott C. Donnelly Chairman, President & Chief Executive Officer
Frank T. Connor Chief Financial Officer & Executive Vice President
Kimberly A. Mackenroth Chief Information Officer & Vice President
Kathleen M. Bader Lead Independent Director
Lawrence K. Fish Independent Director
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