Fractional Ownership News
CitationAir ceases fractional jet sales
CitationAir has stopped selling fractional ownership shares in new aircraft and will no longer sell renewals for current fractional customers.
The Cessna Aircraft subsidiary’s CEO William Schulz sent an email to employees which said said: “CitationAir will be streamlining our offerings to deliver those products in our portfolio that have demonstrated the greatest customer demand. As a result, we are suspending sales of our Jet Share and Jet Access products and refocusing our efforts on our Jet Card and Jet Management lines of business.”
Jet Share was the company’s fractional ownership programme, and Jet Access was a jet membership programme.
Schultz added that CitationAir will honour existing contracts until they expire “and then will buy back the shares in accordance with our customers’ agreements.” Customers who want to stay with CitationAir will need to switch to a jet card product when their fractional contract expires.
www.citationair.com
08/02/12
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