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ation in our bizjet survey. with particular strength at the high end. Our Neutral rating on TXT reflects concerns over the shape of the recovery at Cessna, given significant oversupply, fractional weakness, and increased competition at the low-mid end (Embraer). Of the suppliers. Buy rated COL is our
ny ono scorce may peal subarea's, deferent results UM«, Kingdom and IM rota of Europa: Exam: at Warms. spoiled heren Ins ,rateral Is commonyeated by UBS Limited a imbialary Or UBS AG. to persons who am effgent Cerantenuartrei a otoreanunal dolly ard is Orly ayartatne 10 Pa persons TM «Varnaten corn-snot here
ation in our bizjet survey, with particular strength at the high end. Our Neutral rating on TXT reflects concerns over the shape of the recovery at Cessna, given significant oversupply, fractional weakness, and increased competition at the low-mid end (Embraer). Of the suppliers. Buy rated COL is our
a any Met scurce may mad substarcaly deferent roman UMW' Kingdom and the met of Europa: Exam: as oirermse spenhed herein Ms anima Is commurscaled by UBS Limited a scam:lay Or UBS AG. to persons wen am engtre Cnaltetnatteb a ~conceal Wells are 4 only available 10 Pa persons The «Varnnon contemn herein does no
to stabilize. Of the five major manufacturers. Bombardier had the highest percentage of its respective fleet available for sale at 19%, followed by Cessna at 18%, and Dassault, Gulfstream and Hawker Beechcraft all at 16%. Chart 5: Business Jets Available for Sale and as a Percentage of the Installed B
olostara clients a* is orgy available eo such persons Ile nionnation contained heron door not apply to. and shard nee he rifted upon by. retail cants UBS Limited a adrenal and regulated by the Financial thrices &aunty (ESA. US$ research complies ern at tie ESA recurrent, and laws conberrina thscsothres and t
Entities connected to both Cessna and UBS Limited

Jeffrey Epstein
PERSONDoug Band
PERSON
UBS AG
ORGANIZATIONHawker
ORGANIZATIONDarryl Genovesi
PERSONGeneral Dynamics Corp.
ORGANIZATIONCore Banding Exceptions
ORGANIZATIONUBS Securities LLC
ORGANIZATIONthe Valuation and Risk
ORGANIZATIONEuropean Investment Fund
ORGANIZATION
Review
ORGANIZATIONDavid E. Strauss
PERSONUBS Business Jet
ORGANIZATIONTextron Inc.
ORGANIZATIONEmbraer
ORGANIZATIONBombardier Inc.
ORGANIZATION
Textron
ORGANIZATIONGlobal Equity Research
ORGANIZATION
General Dynamics
ORGANIZATION
Europe
LOCATION