FlyExclusive to Upsize Fleet With Citation Buy

Textron Aviation (NYSE: TXT), the parent company of Cessna, announced today that flyExclusive had entered into an agreement to purchase eight Cessna Citation XLS Gen2 aircraft to be delivered in 2023 and up to six Citation Longitudes, the first delivery of which will take place in 2025.

"These aircraft will provide customers of flyExclusive’s fractional program additional options in the midsize and super-midsize segments," Textron said in a statement. "In addition, the company has exercised its option to purchase an additional five Citation CJ3+ aircraft from its order of up to 30 CJ3+ jets earlier this year. These aircraft are expected to be delivered in 2024."

FlyExclusive is 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 /CJ3+, and Citation Encore / Encore+ aircraft models. 

The company provides jet club, partner, and fractional programs.

On October 17, flyExclusive announced plans to merge with EG Acquisition Corp., a global investment firm. Under the terms of the agreement, flyExclusive will obtain "significant additional capital" to continue its growth," NBC affiliate WTTN reported.

Recently, the company opened a new 500,000-square-foot hangar at Kinston Regional Jetport (KISO), its home base, to house its expanding fleet.

“This agreement reinforces flyExclusive’s rapid growth and further bolsters the company's offerings in the fractional space," Jim Segrave, chairman and CEO of flyExclusive, said in a statement. "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."

"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," Ron Draper, president and CEO of Textron Aviation, added. "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."

The Citation XLS Gen2 operates at speeds of up to 441 knots with a maximum range of 2,100 nm. The aircraft is capable of taking off from a field length of 3,600 feet, climbing to 45,000 feet in 30 minutes.

The Citation Longitude has a range of 3,500 nm and a full-fuel payload of 1,600 pounds. The Citation Longitude has seating for up to 12 passengers, including an optional crew jump seat. The Longitude features a stand-up, 6-foot tall flat-floor cabin. A standard double-club configuration delivers the most legroom in the super-midsize class.