Cessna Takes Full Reins at CitationAir

 - March 30, 2010, 8:00 AM

Cessna Takes Full Reins at CitationAir
Cessna Aircraft in late February completed its acquisition of business aviation flight services provider CitationAir, which is now a wholly owned subsidiary of Cessna but maintains its separate operation. The original company–called CitationShares until the name was changed last October to CitationAir by Cessna–was started in 2000 as a 50-50 joint venture between Cessna and Tag Aviation Holding. Cessna had gradually acquired a greater share over the years and recently acquired the remaining 8 percent. Terms of the transaction were not released. CitationAir–which is based in Greenwich, Conn., and operates a fleet of 80 Citations–offers jet cards, fractional jet shares and aircraft management.