GREENWICH, CT., December 3, 2009 –
CitationAir, a leader in fractional jet ownership, jet card membership and whole aircraft management, this week announced a renewal of its three year, 100 Percent Residual Value Guarantee on new purchases of pre-owned fractional aircraft shares. CitationAir first launched the program in March 2009, and after seeing enthusiastic customer response, decided to renew the program. In addition, CitationAir has significantly reduced pricing on all pre-owned aircraft inventory.
“We are pleased with the success we’ve seen with this program, and its ability to provide stability and peace-of-mind to our customers during challenging times,” said Steve O’Neill, CitationAir CEO.
The 100 Percent Residual Value Guarantee is available on all pre-owned aircraft on CitationAir’s inventory sheet and applies to all new deals with share sizes equal to 1/16th, or 50 hours, and larger. Under the 100 Percent Residual Value Guarantee program, the share must be retained by the purchaser for a minimum of one year and then the guarantee may be exercised in months 13 through 36 of the agreed contract term. The limited-time promotional offer extends through December 31, 2009, or until the pre-owned inventory is gone.
“Our new business model is designed so that our sales and marketing efforts are leveraging all of our points of difference – and the fact that we are able to renew our 100 Percent Residual Value Guarantee program further demonstrates to our customers that we can meet their needs,” said Woody Harford, Senior Vice President, Chief Revenue Officer of CitationAir.
This announcement comes on the heels of the company’s recent rebranding. In October 2009, the company revealed its evolved business model and announced a new branding which aligns CitationAir more closely with Cessna Aircraft Company, which majority owns and controls the private jet company.
For more information on CitationAir’s limited-time 100 Percent Residual Value Guarantee, including the available inventory, call 800-340-7767 or visit www.citationair.com.
About 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. CitationAir operates the youngest fleet in the air by the best pilots in the industry, while setting the standard for safety and unparalleled customer service. CitationAir is majority owned and controlled by Cessna Aircraft Company, a Textron (NYSE: TXT) company. More information about CitationAir and its offerings are available at www.citationair.com.
About Cessna Aircraft Company
Based on unit sales, Cessna Aircraft Company, a Textron (NYSE: TXT) company, is the world’s largest manufacturer of general aviation airplanes. In 2008, Cessna delivered 1,301 aircraft, including 467 Citation business jets, and reported revenues of about $5.662 billion. Since the company was originally established in 1927, some 192,000 Cessna airplanes have been delivered around the world, including more than 6,000 Citations, making it the largest fleet of business jets in the world. More information about Cessna Aircraft Company is available at http://www.cessna.com.
