Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Cessna
Companies and corporations

The Cessna aircraft company: how it all began

24.01.2023
2 min read

Cessna: the company that started with a dream

The American company Cessna once played a significant role in the development of the aircraft business. Its history began in 1927 when Clyde Vernon Cessna did not want to follow in his father’s footsteps and connect his life with farming.
Clyde had a passion for machinery since childhood, collecting junk around Iowa and making some kind of gadgets. Despite the fact that his education was only in elementary school, from the age of 15 the boy was well-versed in agricultural machinery. Cessna tried his hand at different occupations until he got a job as an automobile salesman at the age of 25. Things were going well, Clyde had a son growing up and a loving wife. In 1910 he attended an air show that turned his life upside down. Then, at 31, the young man decided to drop everything and go to study aircraft engineering.
Cessna sold the business, took the money that had been his wife’s dowry, and bought an airplane. For several months Clyde taught himself how to fly an airplane, but the airplane could not stand his diligence and after a while became unsuitable. Then Clyde built his own machine. After hours of failure, he managed to land the device correctly. Then Cessna set about building models, and he did so without textbooks or instructions. The talent of the mechanic showed itself to the full and Clyde’s airplanes became a success. But the inventor’s main dream was airplanes, and the next step was to open a flying school.Cessna aircraft companyIn addition, with the support of his partners, Cessna expanded the production of airplanes, but the Great Depression interrupted everything. The business went bankrupt, but this did not stop Clyde, and three years later he opened a new company, where he started producing airplanes. Cessna’s nephew, who was an excellent manager, took over the business. Thanks to the tandem of an engineer and a manager the business developed perfectly, and even after Clyde’s death in 1954, it continued to occupy one of the leading positions in the American market.
In the 1970s, Cessna began producing private jets, and by the 1980s its main activity was the production of business airplanes.
In 1985, the company was bought by General Dynamics Corporation, and in 1992 Textron became the new owner. The economic crisis hit Cessna hard in 2008 when sales fell by 40% and half of its staff was laid off. The company was able to recover in 2011 when Scott Ernst took the helm. For some time, it produced business jets together with the Chinese manufacturer, but in 2014 Textron decided to officially abolish the Cessna business.

Tags: Companies and corporations
0
Previous Post Property tax: an overview of the calculation and its feasibility Next Post Michael Steinhardt: the story of a prominent American investor

You Might Also Like

company Michelin
Companies and corporations
How the Michelin company developed: history of the French brand
06.03.2021
Rockstar Games
Companies and corporations
Rockstar Games: the studio that gave the world GTA
15.12.2024
Raytheon
Companies and corporations
How the Raytheon Company gave the world microwaves and the Patriot system
24.09.2023
Daihatsu
Companies and corporations
Daihatsu: the history of the Japanese minicar manufacturer
19.06.2022
ebay
Companies and corporations
How the most famous online auction eBay began: the history of the site
02.10.2021
Santander Bank-2
Companies and corporations
History of the founding and development of Spain’s largest Santander bank
01.12.2021

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics