Cessna completes CitationAir acquisition

Feb. 23, 2010


Feb. 22--WICHITA -- Cessna Aircraft has completed its acquisition of CitationAir, a fractional ownership company.

The company, originally called Citation Shares, started in 2000 as a 50-50 venture between Cessna and TAG Aviation Holding.

Cessna acquired a greater share of the company over the years, and now has purchased the final 8 percent of the company.

Terms of the transaction were not released.

CitationAir offers jet cards, jet shares, aircraft management and other services.

The company, based in Greenwich, Conn. is now a subsidiary of Cessna Aircraft, but is operated as a separate company.