New and used Cessna Citation prices range from roughly $3 million to $20 million depending on the model and year

A Cessna Citation is a line of business jets made by Textron Aviation, and the price you pay depends almost entirely on which model you're looking at and how old it is. A used Citation M2 from the early 2010s might cost $3 to $5 million. A newer Citation X+ or a well-maintained Citation Longitude can run $15 to $20 million or higher. The newest models fresh from the factory cost more than used ones, but even a "used" jet with 2,000 flight hours is still a significant asset.

The purchase price is only the beginning of what you'll spend. Ownership costs—fuel, maintenance, crew, hangar space, insurance—often exceed the original purchase price over the life of the aircraft. Many operators find that fractional ownership or jet card programs cost less than buying outright, especially if the jet sits idle for months at a time.

Key Takeaways

  • Citation prices vary by model: older or smaller models like the M2 start around $3 to $5 million used, while newer large-cabin models like the Longitude or X+ range from $15 to $20 million.
  • Annual operating costs—fuel, maintenance, crew, insurance, and hangar—typically run $500,000 to $1.5 million per year depending on flight hours and model.
  • Used Citations hold value better than many aircraft, but maintenance history and total flight hours matter far more than calendar age when pricing a used jet.
  • Fractional ownership and jet card programs often cost less per flight hour than buying and operating your own aircraft if you fly fewer than 400 hours per year.

How Citation model and age affect the price tag

Cessna has made Citations for decades, and the lineup includes everything from the light-jet M2 to the super-midsize Latitude and the large-cabin Longitude and X+. A used Citation M2 from 2015 to 2018 typically sells for $4 to $6 million. A Citation XLS+ (midsize, popular for charter and corporate use) from the same era runs $6 to $9 million. A Citation Longitude (large cabin, longer range) from 2020 onward can cost $18 to $22 million.

Age alone does not determine price the way it does for cars. A Citation with 3,000 total flight hours is not automatically cheaper than one with 2,000 hours if the older jet has better maintenance records, newer avionics, or a more desirable interior. Maintenance history, engine overhaul status, and whether the aircraft has been in a charter fleet (which means heavy use and documented service) all shift the price significantly. A well-maintained 20-year-old Citation can cost more than a neglected 10-year-old one.

What you actually pay to operate a Citation each year

The purchase price is deceptive because annual operating costs are substantial. Fuel is the largest variable expense: a Citation M2 burns roughly 200 gallons per hour, and Jet A fuel costs vary by location but typically run $4 to $6 per gallon. A flight from New York to Los Angeles (about 5 hours) consumes 1,000 gallons, or $4,000 to $6,000 in fuel alone. If you fly 300 hours per year, fuel alone costs $240,000 to $360,000.

Maintenance is the second major cost. Citations require annual inspections, and parts are expensive. A mid-life engine overhaul can cost $400,000 to $600,000 per engine (Citations have two). Routine maintenance, parts replacement, and avionics updates typically run $50,000 to $150,000 per year depending on flight hours and the age of the aircraft. Older jets cost more to maintain.

Crew salaries add another $150,000 to $250,000 per year for a pilot and flight attendant, plus benefits. Hangar space at a busy airport runs $2,000 to $5,000 per month. Insurance varies by hull value and use, but expect $30,000 to $80,000 annually. Add in landing fees, catering, and miscellaneous costs, and total annual operating expense for a mid-size Citation typically ranges from $500,000 to $1 million per year at moderate flight levels (300 to 400 hours).

Why fractional ownership and jet cards can cost less

If you own the jet outright, you pay all those costs whether you fly 100 hours or 500 hours per year. Fractional ownership programs like NetJets or VistaJet let you buy a share of an aircraft (typically 1/16th to 1/8th) and pay only for the hours you use, plus a monthly management fee. You get access to a Citation or similar jet without owning the whole aircraft or bearing the full fixed cost.

Jet card programs work differently: you prepay for a block of flight hours (usually 25 or 50 hours) at a fixed price per hour, and you call when you need the jet. The operator handles all maintenance, crew, and logistics. If you fly fewer than 400 hours per year, a jet card or fractional share often costs less per flight hour than ownership. If you fly more than 600 hours per year, ownership becomes cheaper on a per-hour basis, but you must commit to the full fixed cost regardless.

What to look for when buying a used Citation

A used Citation is a complex purchase because the aircraft's condition depends on how it was flown and maintained, not just its age. Request the maintenance logs and engine overhaul records from the seller or their broker. Engines are the most expensive component, so knowing when they were last overhauled and how many hours remain before the next overhaul is critical.

Have a pre-purchase inspection performed by a may have access to Citation technician—not the seller's mechanic. This inspection typically costs $10,000 to $20,000 but can reveal hidden problems that would cost far more to fix after purchase. Ask about the avionics (navigation and communication systems): newer glass cockpits are safer and more reliable, but retrofitting an older Citation with modern avionics can cost $500,000 to $1 million.

Check the airworthiness directives (ADs) issued by the FAA for that specific aircraft serial number. ADs are mandatory safety modifications, and if several are outstanding, the cost to bring the jet into compliance could be substantial. Finally, verify the aircraft's total flight hours and whether it has been in commercial charter service (which means heavy use but also documented maintenance) or private use (which could mean sporadic maintenance).

Financing and depreciation of business jets

Most Citation buyers finance the purchase through aircraft lenders, which typically require 20 to 30 percent down and offer terms of 10 to 15 years. Interest rates vary but generally run 1 to 3 percentage points above prime, depending on the aircraft's age and condition. A $10 million Citation with 25 percent down ($2.5 million) financed over 12 years at 6 percent interest costs roughly $85,000 per month in loan payments alone.

Citations depreciate, but not as steeply as cars. A new Citation Longitude loses 15 to 25 percent of its value in the first five years, then depreciates more slowly. A well-maintained 10-year-old Citation typically retains 40 to 60 percent of its original purchase price. Older Citations (15+ years) hold value more unpredictably because maintenance costs rise and older avionics become obsolete. The resale market for Citations is active because they are popular in charter and corporate fleets, so you can usually find a buyer, but timing and condition matter.

Frequently Asked Questions

How much does it cost to fly a Citation per hour?

Direct operating cost (fuel, crew, maintenance, landing fees) typically runs $3,000 to $5,000 per flight hour depending on the model and how much you fly. If you add in fixed costs like hangar and insurance spread across your annual hours, total cost per hour can reach $6,000 to $8,000. Jet card programs charge $5,000 to $8,000 per hour all-in.

Can you buy a Citation for under $2 million?

Not a flyable, airworthy one. The oldest Citations still in service are 40+ years old and cost $1 to $2 million, but they require significant maintenance investment and have older avionics and engines. A newer, reliable used Citation starts around $3 to $4 million. Buying below that price usually means accepting substantial repair costs or an aircraft that needs major work.

What is the difference between a Citation M2 and a Citation Latitude?

The M2 is a light jet with a smaller cabin and shorter range, costing $4 to $6 million used. The Latitude is a midsize jet with a larger cabin and longer range, costing $10 to $14 million used. The Latitude burns more fuel and costs more to operate, but carries more passengers and flies farther without refueling. Choose based on your typical mission: short hops with a few passengers favor the M2; longer trips with more people favor the Latitude.

Do I need a special pilot license to fly a Citation?

Yes. You need a commercial pilot license with a multi-engine rating and a type rating specific to the Citation model you own. Type rating training takes 3 to 5 weeks and costs $15,000 to $25,000. If you hire a professional crew (which most owners do), your pilots handle the licensing and training.

What happens to a Citation if I stop flying it?

The aircraft still costs money: hangar rent, insurance, and annual inspections continue whether you fly or not. Engines and components deteriorate from sitting idle. If you do not fly for a year or more, you will pay for an inspection and possibly repairs before the jet is airworthy again. This is why fractional ownership or jet cards make sense for sporadic flyers.