Market Minute – Citation CJ3
The Citation CJ3 was developed as an improved and slightly larger variant of the successful CJ2. The fuselage was stretched by two feet, and the wingspan increased by three feet. An upgraded variant of the Williams FJ44 (-3A) powers the CJ3, and the single pilot certified light jet incorporates the Pro Line 21 avionics suite. The max takeoff weight and max fuel weight were also increased, improving the payload carrying capability while still achieving a slightly faster cruise speed than it’s predecessor.
Production began in 2003, and continued until 2014 with 416 aircraft produced. In 2017, the Pro Line Fusion avionics suite received FAA certification as an aftermarket upgrade option for the CJ3. The upgrade allows for “turn key” future mandate compliance such as ADS-B Out (DO-260B standard), as well as modern enhancements like WAAS/LPV, and Synthetic Vision.
Around six percent of the entire CJ3 fleet is currently represented as being for sale. The market is very active, with six aircraft currently under contract/deal pending. Ask prices vary across the market, currently ranging from a low of $3.69M up to $6.15M on the high end of the market.
The average market time for CJ3’s sold in the last ninety days is just over six months. Fourteen CJ3’s have sold year to date, with five of those aircraft having traded within the last ninety days. One hundred percent of the aircraft sold in the last ninety days were enrolled on an engine program at the time of sale.