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By Bill Goldston |
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February 24, 2010 - Cessna Aircraft announced it has completed its acquisition of CitationAir, a business aviation solutions company originally called CitationShares. The original company was started in 2000 as a joint venture between Cessna and TAG Aviation Holding SA with each holding a 50-percent share. Cessna had gradually acquired a greater share through the past decade and today announced acquisition of the final 8 percent. Terms of the transaction were not released. CitationAir is a business aviation solutions company offering jet cards, jet shares, aircraft management and customized solutions for individuals, businesses and corporate flight departments. |
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CitationAir took
its new name last year to better reflect the changes to its business
model adopted through the years that give customers more choice and
flexibility in meeting their business aviation requirements and to
strengthen its alignment with Cessna. "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 Jack J. Pelton, Cessna chairman, president and CEO. Cessna is the world's leading general aviation company, based on unit sales, with five major lines of business: Citation business jets, Caravan single-engine turboprops, Cessna single-engine piston aircraft, aftermarket services and lift solutions by CitationAir. |
Founded in 2000, CitationAir is an industry leader offering individuals and businesses the advantages of private jet travel through its innovative programs, including Jet Card, Jet Shares, Jet Management and Corporate Solutions products. CitationAir flies Cessna's popular Citation aircraft exclusively - the Citation Bravo, Citation CJ3, Citation XLS, and Citation Sovereign - which are serviced and maintained at the factory-level. |
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