CitationShares Adds Programs, Cuts Staff

Business Jet Traveler » August 2009
Tuesday, September 1, 2009 - 5:00am

Greenwich, Conn.-based CitationShares has announced partnerships with TerraPass, a retailer of carbon offsets, and Corporate Angel Network, a charity that arranges free flights to treatment for cancer patients. CitationShares customers can now donate flight hours to the charity and can balance their "carbon footprint" by purchasing carbon offsets from TerraPass for hours they fly.

Meanwhile, CitationShares has laid off 41 office staff and furloughed 52 pilots because, said CEO Steve O'Neill, the company had had "too much capacity." He added, however, that "the decline in selling and flight activity has begun to level off."

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“"Many years ago, our company founder, Al Conklin, sold a new twin-engine business aircraft to a very successful entrepreneur. He had established a bit of a rapport with the individual and, after the sale, asked him straight out, 'How can you justify the cost of this airplane?' His reply? 'What is the cost of a divorce?'"–David Wyndham, president, Conklin & de Decker”

-David Wyndham