CitationAir Ceases Sales of Fractional Jet Shares

BJT Waypoints
CitationAir Ceases Sales of Fractional Jet Shares
CitationAir Ceases Sales of Fractional Jet Shares
Wednesday, February 8, 2012 - 12:45pm

Cessna's CitationAir has stopped selling fractional shares as well as memberships in its Jet Access program and has ceased renewals for current customers. The Connecticut-based company–which is refocusing efforts on its jet card and jet management businesses–will honor existing fractional and Jet Access contracts until they expire. It will then buy back fractional shares “in accordance with our customers’ agreements.” Customers who want to stay with CitationAir will need to transition to a jet card.

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“I have an obligation to get you to your destination. You have an obligation to pay. What else is there? We don't need 24 pages of legalese.”

-VistaJet founder and chairman Thomas Flohr, on the company's unusually brief, easy-to-understand contracts