Cessna cancels "Columbus" development.

Dutch source only, translated by yours truly:
http://www.luchtvaartnieuws.nl/news/?ID=31423

Cessna Columbus businessjet cancelled

18-07-2009

WICHITA – Cessna has cancelled development of the twin engined intercontinental Cessna Columbus business jet. The decision will ost Cessna at least 100 million dollars. Because of the cancellation Cessna will be forced to repay 50 million dollar in downpayments. On top of that Cessna had already invested 50 million dollar into the development and construction of tools required for production.

The new Large Cabin Concept (LCC) that received teh name Columbus 850 in 2007 was supposed to seat 10 people in a 1.85 meter tall cabin at a width of 2.08 meter. Cessna was aiming at a intercontinental range of 7.400 kilometer at speeds of .80 mach (904 kph).

Construction of the new plane would have cost 780 million dollar and have created around 4000 new jobs at cessna and subcontractors. Last april the program was already postponed indefinately due to the recession.