EXECUTIVE JET Aviation (EJA) says that it has sold full shareholdings in 16 Citation Ultra business-jets due for delivery in 1995 for its NetJets fractional-ownership programme.
The aircraft are part of a $150 million order for 25 Citation Ultras announced in July 1994. First delivery is due in June.
The Montvale, New Jersey based company operates 25 Cessna S/IIs and 13 Raytheon Hawker 1000s under the NetJets programme, and has seven Gulfstream IV-SPs business-jets on order. EJA holds options on 13 more GIV-SPs and two long-range Gulfstream Vs.
Under the NetJet programme, EJA sells shareholdings in aircraft, which it then operates on behalf of the owners. The firm also operates charter and fleet- management businesses.
EJA reports that its charter business has grown by 35% and that Executive Jet Management scored 25% growth in its fleet-management business.
Source: Flight International
