Textron Aviation and NetJets sign record-breaking fleet agreement for up to 1,500 Cessna Citation jets

September 20, 2023

NetJets named launch customer for the new Cessna Citation Ascend

Textron Aviation and NetJets® today announced a record-breaking fleet agreement for the option for NetJets to purchase up to 1,500 additional Cessna Citation business jets over the next 15 years. This agreement extends NetJets’ existing fleet agreement, and includes options for an increasing number of aircraft each year, enabling NetJets to expand its fleet with Cessna Citation Ascend, Citation Latitude and Citation Longitude aircraft. Equally exciting is the announcement that NetJets has been named the fleet launch customer for Textron Aviation’s newest jet — the Citation Ascend. Deliveries of the Citation Ascend are expected to begin in 2025 when the aircraft, currently under development, is expected to enter into service.

Today's announcement extends NetJets' existing fleet agreement, and includes options for an increasing number of aircraft each year, enabling NetJets to expand its fleet with Cessna Citation Ascend, Citation Latitude and Citation Longitude aircraft. (Photo: Business Wire)

Today's announcement extends NetJets' existing fleet agreement, and includes options for an increasing number of aircraft each year, enabling NetJets to expand its fleet with Cessna Citation Ascend, Citation Latitude and Citation Longitude aircraft. (Photo: Business Wire)

Cessna Citation business jets are designed, produced and delivered by Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company. NetJets is a proud Berkshire Hathaway company.

“NetJets customers around the world continually select Citations as their aircraft of choice. We’re honored to be the largest provider of industry-leading aircraft to NetJets and look forward to continuing to work together to design and deliver the best aviation experience based on customer feedback,” said Ron Draper, president and CEO, Textron Aviation. “Expanding and adding the Citation Ascend to the NetJets fleet will provide its global customers with even more versatility and flexibility to accomplish their missions, building upon the exceptional performance and popularity of the Latitude and Longitude.”

Since the inception of the more than 40-year relationship between the companies, NetJets has taken delivery of more than 800 aircraft from Textron Aviation, including exercising over 300 options for Citation Latitudes and Longitudes during the past eight years. This enduring relationship equips discerning customers with class-leading, safe, and reliable aviation travel experiences worldwide. Through the years, NetJets has owned and operated industry-leading Citations including the Citation SII, V, Excel/XLS, Sovereign, X, Latitude and Longitude models.

“As a long-time, trusted ally who shares our commitment to safety and service, Textron Aviation is the ideal partner to help us expand our offerings to NetJets Owners with the introduction of the new Ascend to our midsize jet class, as well as by growing our overall fleet,” said Doug Henneberry, NetJets Executive Vice President, Aircraft Asset Management. “Based on past demand for the popular Citation Latitude and Longitude, the new Ascend and all our new Citations will undoubtedly be well received by our Owners, particularly those who depend on NetJets to help them do more and miss less.”

Cessna Citations are renowned for their ability to combine reliability, efficiency and comfort with advanced technology and class-leading performance, and no other family of business jets offers such a seamless progression of aircraft with extraordinary capabilities. Since Cessna delivered its first Citation in 1972, it has set the standard in the business jet market, often achieving the most deliveries annually across the business and general aviation industry.

The Citation series of business jets has evolved to offer an unmatched range of capabilities, systems and options that allow customers to expand their business reach. More than 30 Citation models have been certified over the 50-year history of the Citation line. There are currently six Citation models in production: Citation M2 Gen2,Citation CJ3+, Citation CJ4 Gen2, Citation XLS Gen2, Citation Latitude and Citation Longitude, with the Citation Ascend under development.

About the Cessna Citation Ascend

The Citation Ascend is designed to bring an entirely new cockpit, improved performance and a more luxurious cabin to the midsize business jet market. Preliminary performance targets indicate a four-passenger range of 1,900 nm at high-speed cruise power (with an estimated maximum range of 2,100 nm), cruise at 441 kts and the ability to climb direct to 45,000 ft.

With sleek and modern features, NetJets owners will enjoy many of the luxuries found in the bestselling Citation Latitude and Citation Longitude, including a flat floor to provide generous legroom and flexibility for passengers. The aircraft will offer Pratt & Whitney Canada PW545D engines designed to deliver fuel efficiency and increased thrust, as well as state-of-the-art Garmin G5000 avionics that feature the latest software and hardware, including autothrottle technology. The Ascend also features a Honeywell RE100 [XL] Auxiliary Power Unit (APU) approved for unattended operations.

The anticipated Ascend design for NetJets will feature a standard seating configuration for seven passengers, a full refreshment center and a spacious baggage compartment.

About the Cessna Citation Latitude

The Citation Latitude midsize business jet, with a four-passenger range of 2,700 nautical miles (5,000 km) at high-speed cruise, is set apart from the competition by its combination of comfort and efficiency. The aircraft’s class-leading take-off field length of 3,580 feet provides operators with greater range out of short fields. Inside, the Citation Latitude offers an unrivaled cabin experience featuring the most open, spacious, bright and refined cabin environment in its category.

NetJets’ Latitude features a standard seating configuration for seven passengers, a generous amount of cabin space, ample storage, and a spacious lavatory and baggage compartment. With a flat floor and six feet of cabin height, innovation abounds with exceptional features designed throughout the aircraft. The wireless cabin management system provides productive connectivity and entertainment to each passenger through their personal electronic devices.

About the Citation Longitude

With a range of 3,500 nautical miles (6,482 kilometers) and full fuel payload of 1,600 pounds (726 kilograms), Textron Aviation designed the Citation Longitude to elevate passenger expectations in the super-midsize class by delivering cabin sound levels that are nearly twice as quiet as the nearest competitor, a low cabin altitude (5,950 feet/1,814 meters), more standard features and an elegant yet comfortable, bespoke interior, fully meeting the NetJets standard for customer satisfaction.

NetJets’ Longitude features a standard double-club configuration of eight fully berthable seats, delivering the most legroom in the super-midsize class. A stand-up, 6-foot (1.83 meters) tall flat-floor cabin and an available streamlined divan enable easy transit along the cabin passageway while a class-leading walk-in baggage compartment accessible throughout the entire flight ensures passengers experience unparalleled convenience. State-of-the-art cabin technology empowers passengers to manage their environment and entertainment from any mobile device, while in-flight internet maximizes productivity.

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, Pipistrel, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, Textron Systems, and TRU Simulation + Training. For more information, visit: www.textron.com.

About NetJets

NetJets has been setting—and exceeding—industry standards since it was originally incorporated in 1964 as Executive Jet Airways. Today, NetJets is proud to be a Berkshire Hathaway company known for its unwavering commitment to safety and service. The NetJets premier family of brands encompassing NetJets, Executive Jet Management, QS Partners, and QS Security offers a variety of customizable travel solutions, including shared ownership, lease and jet card options, aircraft management, private jet chartering, brokerage and acquisition services, and specialized security services. This comprehensive suite of solutions is why so many of the world’s most discerning travelers choose NetJets generation after generation. It is also because NetJets has the largest, most diverse private jet fleet in the world, which grants anytime access to even the most remote destinations across the globe. To learn more about the leader in private aviation, visit netjets.com today.

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, the efficacy of research and development investments to develop new products or unanticipated expenses in connection with the launching of significant new products; the timing of our new product launches or certifications of our new aircraft products; our ability to keep pace with our competitors in the introduction of new products and upgrades with features and technologies desired by our customers; changes in government regulations or policies on the export and import of our products; demand softness or volatility in the markets in which we do business; and performance issues with key suppliers or subcontractors.

Media Contact:
Keturah Austin
+1.316.249.3706
kaustin@txtav.com
txtav.com

Source: Textron
Today's announcement extends NetJets' existing fleet agreement, and includes options for an increasing number of aircraft each year, enabling NetJets to expand its fleet with Cessna Citation Ascend, Citation Latitude and Citation Longitude aircraft. (Photo: Business Wire) 6274 x 3540 jpg 15.90 MB
Also announced is the naming of NetJets as the fleet launch customer for Textron Aviation's newest jet - the Cessna Citation Ascend. (Photo: Business Wire) 8000 x 4500 jpg 11.07 MB

Connect with Textron IR

David Rosenberg, Vice President, Investor Relations
(401) 457-2288
Kyle Williams, Manager, Investor Relations
(401) 457-2288

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