Textron Aviation, manufacturer of Cessna business jets, announced it has entered into a purchase agreement with Exclusive Jets, LLC, operating as flyExclusive, for up to 14 additional Cessna Citation aircraft. This new order will grow the flyExclusive fractional jet program, and follows on the news that flyExclusive will be going public via a SPAC.
New Fractional Jet Order
flyExclusive has agreed to purchase eight Cessna Citation XLS Gen2 mid-size jets to be delivered in 2024, and up to six Citation Longitudes super-mid jets, with initial deliveries of the first two Longitude aircraft expected in 2025. These aircraft will provide customers of flyExclusive’s fractional program additional options in the midsize and super-midsize segments.
flyExclusive launched its fractional jet program earlier this year with an order for up to 30 Citation CJ3+ light jets. The company has just exercised its option to purchase an additional five CJ3+ aircraft as part of this order. These aircraft are expected to be delivered in 2024.
"We're proud that flyExclusive, a growing fractional operator, has chosen the Citation XLS Gen2 and Citation Longitude to offer comfortable, spacious and unforgettable experiences to their customers entering business aviation," said Ron Draper, President & CEO, Textron Aviation. "We appreciate their confidence in Textron Aviation as they continue to expand their already impressive Citation fleet and look forward to continuing our relationship for years to come."
flyExclusive is one of the largest owners/operators of Citations in the world. The company operates a fleet of 90 jets including Citation X, Citation Sovereign, Citation Excel/ XLS, Citation CJ3 /CJ3+ and Citation Encore / Encore+ aircraft models.
The Citation XLS Gen2 flys at speeds of up to 441 knots (817 kilometers/ hour) with a maximum range of 2,100 nautical miles (3,889 kilometers), a takeoff field length of 3,600 feet (1,097 meters) and climbs to 45,000 feet (13,716 meters) in 30 minutes. The XLS Gen2 typically has seating for up to 8 and has a baggage volume of 90.2 cu ft (2.55 cu m).
The Citation Longitude has maximum cruise speed 483 ktas (895 km/h) with a range of 3,500 nautical miles (6,482 kilometers) and a low cabin altitude (4,950 ft / 1,509 m at 41,000 ft). Standard seating is for 8 passengers, in a 6-foot tall flat-floor cabin. The spacious walk-in baggage compartment is accessible in flight and provides a volume of 112 cu ft (3.17 cu m).
“This agreement reinforces flyExclusive's rapid growth and further bolsters the company's offerings in the fractional space. We continue to elevate the private flying experience, delivering consistent, reliable, and world-class service for our customers,” said Jim Segrave, Chairman and CEO, flyExclusive. “We are proud to deepen our relationship with Textron Aviation and support high quality, American manufacturing. We appreciate Textron Aviation's support as we continue to grow into one of the largest private jet charter operators in the industry."
The SPAC deal gives flyExclusive about $300m of new funding, and with this order the company is making an immediate statement of how it plans to continue its rapid growth.