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Cessna Aircraft Forms Partnership to Enter Fractional Jet-Ownership Business.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, July, 2000 by McMillin, Molly
Jul. 11--Wichita's Cessna Aircraft Co. in recent years has watched the fractional jet ownership business take off as fast as its quickest jet.
Now Cessna will join in this fast-growing segment of the general aviation business.
Company officials will announce this morning in New York that Cessna has formed a partnership that will operate a fractional jet business.
Cessna's decision is the latest indication of the strength of an industry trend that has helped push business jet sales to record levels.
Fractional ownership programs allow customers to buy shares of an aircraft, rather than buying a whole airplane. It works much like a time-share vacation home.
Executive Jet Inc., the nation's largest fractional jet operator,...
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