UK-BASED JET Network (JetCo) has reached an agreement with Cessna Aircraft enabling the company to offer fractional ownership of the CitationJet and Citation VII business-jets.

The one-year agreement covers pricing and delivery terms for four of each aircraft type.

JetCo is trying to establish a European shared-ownership scheme modeled on US-based Executive Jet International's successful NetJets programme. The company originally based its programme around the Raytheon Aircraft Beech King Air, Beechjet 400A and Hawker 800.

Cessna emphasises that no money has changed hands, and that the agreement is designed to allow JetCo to begin marketing quarter shares in the entry-level CitationJet and mid-sized Citation VII.

Delivery is guaranteed within 12 months of JetCo placing a firm order, the company says.

Source: Flight International