Cessna has sold 50 Citation CJ1 and Citation Bravo business jets to the CitationShares fractional ownership programme which its owns jointly with New York-based business aircraft management and charter specialist TAG Aviation. The deal is worth $500 million.
The venture, which started last month following the acquisition by Cessna of a 50% stake in TAG's StarShares programme (Flight International, 18-24 July), is the only dedicated fractional scheme aimed solely at entry-level customers, offering, says Cessna, "the lowest entry price for a new jet aircraft in the fractional market".
CitationShares, like StarShares, will be based at Westchester County Airport in White Plains, New York. Operations will initially be limited to the "east of the Mississippi river".
Source: Flight International
