Textron Aviation announces order from flyExclusive for up to 30 Cessna Citation CJ3+ light jets

Rhea-AI Summary

Textron Aviation has signed a purchase agreement with flyExclusive for up to 30 Cessna Citation CJ3+ jets, with five expected to deliver in 2023 and additional options through 2025. This order enhances flyExclusive's private jet offerings and supports its growth strategy, positioning it as a major player in the fractional ownership market. The Citation CJ3+ boasts advanced avionics, in-flight WiFi, a range of 2,040 nautical miles, and is designed for efficiency, burning 10% less fuel than competitors.

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• Contract for up to 30 CJ3+ jets strengthens flyExclusive's fleet and market position.
• The Citation CJ3+ offers advanced technology and fuel efficiency, appealing to customers.

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• None.

WICHITA, Kan.--(BUSINESS WIRE)-- Textron Aviation today announced it has entered into a purchase agreement with Exclusive Jets, LLC, operating as flyExclusive, for up to 30 Cessna Citation CJ3+ jets. flyExclusive, a leading provider of premium private jet charter experiences, expects to take delivery of five aircraft in 2023, with the option to purchase additional aircraft for deliveries through 2025.

The Citation CJ3+ delivers exceptional performance, Garmin G3000 avionics and in-flight WiFi capability. With a range of up to 2,040 nautical miles, the Citation CJ3+ is perfectly suited for the light jet market segment and can fly single-pilot and up to four passengers nonstop from Washington, DC to Monterrey, Mexico, Sao Paulo to Santiago, London to Athens, or Shanghai to Tokyo. (Photo: Business Wire)

Cessna Citation jets are designed and manufactured by Textron Aviation Inc., a Textron Inc. (NYSE: TXT) company.

“This order brings the efficiency and comfort of the Citation CJ3+ to a new audience of customers through flyExclusive’s programs,” said Ron Draper, President and CEO, Textron Aviation. “We appreciate customers like flyExclusive, who see the value in operating a broad range of jets from the Citation family. The operating economics of Citations, combined with the global network of service and support available through Textron Aviation, ensures continued productivity and enjoyment throughout the ownership experience.”

This order, with options, continues the company’s position as one of the largest owners/operators of Citations in the world. The company operates a fleet of Cessna Citation jets including Citation X, Citation Sovereign, Citation Excel/ XLS, Citation CJ3 and Citation Encore aircraft models.

“This expansion launches flyExclusive into the fractional space. We are committed to redefining the private flying experience, providing the full suite of products for our customers, all delivering consistent, reliable and world-class service,” said Jim Segrave, Chairman and Founder, flyExclusive. “We are proud to continue our relationship with Textron Aviation as we bring the CJ3+ into our esteemed fleet. The addition of these new CJ3+ aircraft will allow us to expand our capabilities to support our continuing growth as one of the largest private jet charter operators in the industry.”

Owning and operating its fleet of 85 light, midsize, super-midsize and heavy jets, flyExclusive, based in Kinston, North Carolina is the third largest Part 135 charter operator in the U.S. This order is expected to support the company’s Jet Club, Partner and new fractional program, in response to historic demand.

About the Citation CJ3+

The Citation CJ3+ delivers exceptional performance, Garmin G3000 avionics and in-flight WiFi capability. Best-in-class acquisition and operating costs, seating for nine passengers, and up to 1,000 lbs of baggage capacity make the CJ3+ the ultimate utility player. With a range of up to 2,040 nautical miles, the Citation CJ3+ is perfectly suited for the light jet market segment and can fly single-pilot and up to four passengers nonstop from Washington, DC to Monterrey, Mexico, Sao Paulo to Santiago, London to Athens, or Shanghai to Tokyo.

Designed to provide the most efficient flight profile by minimizing fuel costs and environmental impact, the Citation CJ3+ burns, on average, 10 percent less fuel and costs 5 percent less in maintenance per flight hour versus other aircraft in the light jet segment.

Leading the light jet segment

Cessna Citations continue to lead this segment, with more than 5,000 light jets delivered throughout the world, offering customers the broadest range of products on the market. From the popular entry level Cessna Citation M2 Gen2, to the efficiency and comfort of the Citation CJ3+ and latest Citation CJ4 Gen2, Textron Aviation’s Citation family of light business jets has evolved to offer a range of capabilities, systems and options unmatched in its class.

About Textron Aviation

We inspire the journey of flight. For more than 95 years, Textron Aviation Inc., a Textron Inc. company, has empowered our collective talent across the Beechcraft, Cessna and Hawker brands to design and deliver the best aviation experience for our customers. With a range that includes everything from business jets, turboprops, and high-performance pistons, to special mission, military trainer and defense products, Textron Aviation has the most versatile and comprehensive aviation product portfolio in the world and a workforce that has produced more than half of all general aviation aircraft worldwide. Customers in more than 170 countries rely on our legendary performance, reliability and versatility, along with our trusted global customer service network, for affordable and flexible flight.

For more information, visit www.txtav.com | www.defense.txtav.com | www.scorpionjet.com.

About Textron Inc.

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell, Cessna, Beechcraft, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, and Textron Systems. For more information, visit: www.textron.com.

About flyExclusive

flyExclusive is a premiere Part 135 owner/operator of private jet experiences that surpass expectations for quality, convenience and safety. From our world-class Jet Club to our unmatched private charter, clients who fly with us receive a curated experience that anticipates their needs for consistency, comfort and style. As the second largest operator of Cessna Citation aircraft in the world with a floating fleet of 85 light to heavy jets, flyExclusive offers access to a world of personalized private aviation with on-demand flights that can service a myriad of specialized trip needs. flyExclusive is headquartered in Kinston, NC with services provided across North America, Caribbean, Central America, South America, Europe, Asia and beyond. To learn more, visit www.flyexclusive.com.

Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, changes in aircraft delivery schedules or cancellations or deferrals of orders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220406005685/en/

Media Contact:

Keturah Austin

+1.316.517.0437

kaustin@txtav.com

txtav.com

Source: Textron

FAQ

What is the significance of Textron Aviation's agreement with flyExclusive?

The agreement involves the purchase of up to 30 Cessna Citation CJ3+ jets, enhancing flyExclusive's private jet offerings and market position.

When will flyExclusive receive its first CJ3+ jets?

flyExclusive expects to take delivery of five CJ3+ jets in 2023.

How does the Citation CJ3+ jet perform compared to other light jets?

The Citation CJ3+ is designed for efficiency, burning 10% less fuel and reducing maintenance costs compared to competitors.

What is the range of the Citation CJ3+ jet?

The Citation CJ3+ jet has a range of up to 2,040 nautical miles.

How does this order impact Textron’s position in the aviation market?

This order reinforces Textron's status as one of the largest owners/operators of Citation jets globally.