November 19, 2018
The Cessna Citation Sovereign was designed to provide overall excellent performance while allowing exceptional comfort for passengers. It was first introduced as a high-performance jet to plug the gap between the Excel/XLS and Citation X, but its claim to fame is that it can take-off and land at short distances thanks to a moderately swept high-aspect ratio wing.
As of August 2018, 58% of the Citation Sovereign aircraft were purchased pre-owned by their current owners, the other 42% new. 3.7% are for sale with half of those (54%) under an exclusive broker agreement. When for sale, the average time on the market is 344 days.
The Cessna Citation Sovereign was first unveiled in 1998 at the NBAA Annual convention in Las Vegas, Nevada and the first flight took place in February 2002. FAA certification was awarded in June 2004 and customer deliveries began later that same year. Production of the Citation Sovereign ended in 2013 as the Sovereign+ began deliveries. A total of 350 Citation Sovereign business jets were built, 1 is retired, 1 is at the manufacturer.
There are 348 Sovereign aircraft in operation today. Most of these are wholly owned (288) with 16 in shared ownership and 44 in fractional ownership. 9.5% are currently leased. North America has the largest percentage of wholly owned Sovereign aircraft (72%), followed by Europe (11%) and South America (6%). NetJets has the largest fleet of Sovereign aircraft with 44.