Executive Jets, the fractional jet ownership company, placed an order for 50 Cessna Sovereigns plus 50 options last week at the NBAA 1998 Convention.

The order, valued at $650 million before options, came just a day after Cessna unveiled the new business jet (see related story) making the model virtually an instant seller.

The Sovereign will join many other Cessna business jets in the EJA fractional ownership fleet. EJA president Richard Santulli says the Sovereign will be a successful addition.

"While everyone else is chasing the super midsize, Cessna comes out with something on the money" with the Sovereign, Santulli told reporters at the NBAA.

In fact, EJA has modeled its business on the Cessna business plan, emulating its fleet mix with the range of Cessna products.

Santulli also said he's a big fan of the Cessna Citation X, as are his customers.

"It's the most talked about jet by our customers," who admire its speed and technology, he says.

The first Cessna Sovereign will join the EJA fleet in 2002.