The ranks of major fractional-share operations officially thinned late last week, when the FAA reported that the Part 135 certificate for CitationShares Management LLC, dba CitationAir, has been removed from its National Vital Information Subsystem database after surrender on November 6. Flight operations ended on October 31, but the company had already begun winding down, having stopped selling fractional shares and halting all contract renewals in 2012.
Though the fractional provider was launched by Cessna as CitationShares in 2000, its Part 135 certificate was not issued until March 22, 2004, according to FAA records. In 2009 it was rebranded as CitationAir, changing its business model and streamlining products.
In its heyday, CitationAir flew approximately 80 jets, all Cessna Citations, and in addition to fractional shares offered aircraft management and jet cards. CitationAir was known for pioneering an efficient flight schedule based on in-house-developed software and it was responsible for introducing many non-owners to the Citations.
Reports put the number of employees left at CitationAir when it closed its doors at 100, which included 38 non-management pilots.