Fractional Ownership News

Cessna takes full ownership of CitationAir

Cessna Aircraft yesterday completed its acquisition of fractional jet provider CitationAir. CitationAir is now a wholly owned subsidiary of Cessna but maintains its separate operation.

The original company, called CitationShares until a name change last October, was started in 2000 as a 50-50 joint venture between Cessna and TAG Aviation Holding. Cessna has gradually acquired a greater share over the years and yesterday acquired the remaining eight per cent.
CitationAir, which is based in Greenwich, Connecticut, operates a fleet of 80 Citations offering jet cards, fractional jet shares and aircraft management.

“Because of CitationAir’s innovative products, Cessna is able to offer customers an even wider range of lift solutions, whether the need is to buy their own new or pre-owned jet or for a customized lift plan giving them access to CitationAir’s fleet of Cessna Citations,” said Cessna chairman, president and CEO Jack Pelton.

www.citationair.com

25/02/10

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