CitationAir Closing Oct. 31

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Textron Aviation is closing former Cessna fractional operator CitationAir and selling the remaining airplanes. CitationAir was started in 2000 as CitationShares, a division of Cessna. Cessna stopped selling shares in new aircraft and jet cards two years ago and it's ceasing flight operations Oct. 31. "We previously communicated with our customers regarding the decision to cease selling our fractional, jet card and management products," Textron Aviation spokeswoman told the Wichita Eagle. "After diligently evaluating options for the future of CitationAir, we have made the decision to wind down our operations and exit the business."

Alexander told the Eagle the company is now buying back fractional interests from existing owners and once that's complete it will put the aircraft up for sale. Layoff notices have been sent to CitationAir employees. The fractional company is based in Greenwich, Connecticut.