Cessna Citation M2 Gen2 vs HondaJet Elite II

Over the following paragraphs we’ll consider key productivity parameters for the Cessna Citation M2 Gen2 and HondaJet Elite II (including payload, range, speed, and cabin size) to establish which aircraft provides the better value, and in which respects.

Is a longer range and greater speed necessarily a deal clincher in every case? How much extra should operators expect to pay for these? It is hoped that the following jet comparison will help clarify.

Cessna Citation M2 Gen2

Introduced to replace the Citation CJ1, the Citation M2 offered faster climb, more cabin comfort and faster cruise speed. Powered by FJ44-1AP-21 engines, the cockpit is equipped with modern Garmin G3000.

The original Citation M2 model was upgraded to the Citation M2 Gen2 in 2023, an upgrade largely impacting the interior with new styling, more storage, wireless charging and USB ports.

As of this writing there were 63 wholly-owned Cessna Citation M2 Gen2 business jets in operation worldwide, per JETNET, two of which were in shared ownership arrangements. North America boasted 71% of the fleet, followed by South America (14%), Europe (8%), then Asia (3%). 

HondaJet Elite II

In 2023 Honda Aircraft unveiled upgrades to its HondaJet that include range, new cabin designs, ground spoilers, and a stabilized approach feature, calling the upgraded aircraft the HondaJet Elite II.

An autothrottle system was also added, along with Garmin Autoland. The HondaJet Elite II also saw its MTOW raised by 200lbs over preceding models to accommodate more fuel. 

At the time of writing there were 29 HondaJet Elite II jets, with 23 being wholly-owned, a further two in shared-, and four in fractional ownership for a total of 29 in operation, per JETNET. By continent, North America had 92% followed by Europe and Asia (4% each).

Payload Comparison

When comparing business jets, an important area for potential operators to focus on is payload capability, and especially the ‘Available Payload with Maximum Fuel’. Table A shows this attribute to be 514lbs for the Citation M2 Gen2, while for the HondaJet Elite II it’s 620lbs. That’s a difference of 106bs in favor of the HondaJet Elite II.

Table A - Cessna Citation M2 Gen2 vs HondaJet Elite II Payload Comparison

Cabin Comparison

As shown in Chart A, the cabin height of both jets is 4.8ft, while there is a slight width advantage favoring the HondaJet Elite II (5.0ft vs 4.8ft).

Not shown in the cross-section graphic, the HondaJet Elite II also offers more cabin length (12.1ft vs 11ft), and its overall cabin volume is marginally more (225cu.ft vs 201cu.ft). The HondaJet Elite II also provides more external luggage volume (62cu.ft) than the Citation M2 Gen2 (46cu.ft).

Chart A - Cessna Citation M2 Gen2 vs HondaJet Elite II Cabin Comparison

Range Comparison

Using Wichita, Kansas, as the start point, Chart B shows the HondaJet Elite II has a range of 1,358nm with four passengers and available fuel, which is 175nm more than the Citation M2 Gen at 1,183nm.

Note: For business jets, ‘Four Pax Range’ represents the maximum IFR range of the aircraft at long range cruise. The NBAA IFR fuel reserve calculation is for a 200nm alternate for FAR Part 25 and 100nm alternate for FAR Part 23. This range does not include winds aloft or any other weather-related obstacles.

Chart B - Cessna Citation M2 Gen2 vs HondaJet Elite II Range Comparison

Powerplant Details

As mentioned above, the Citation M2 Gen2 has two Williams International FJ44-1AP-21 engines providing 1,965lbst each. These burn 112 gallons of fuel/hour (gal/hr). By comparison, the HondaJet Elite II has two GE Honda HF-120-H1A engines, providing 2,050lbst each, and burning 102gal/hr of fuel.

Cost per Mile Comparison

Chart C details ‘Cost per Mile’, comparing the HondaJet Elite II and the Citation M2 Gen2, and factoring direct costs with both aircraft flying a 1,000nm mission with an 800lbs (four passengers) payload. The HondaJet Elite S has the higher cost per mile at $4.31 per nautical mile. That’s 4.4% greater than the Citation M2 Gen2’s $4.13 per nautical mile. 

Chart C - Cessna Citation M2 Gen2 vs HondaJet Elite II Cost Per Mile Comparison

Variable Cost Comparison

The ‘Variable Cost’, illustrated in Chart D, is defined as the estimated cost of fuel expense, maintenance labor expense, scheduled parts expense, and miscellaneous trip expense (e.g. hangar, crew and catering).

These DO NOT represent a direct source into every flight department and their trip support expenses. For comparative purposes, the costs presented are the relative differences, not the actual differences, since these costs may vary from one flight department to another.

Chart D - Cessna Citation M2 Gen2 vs HondaJet Elite II Cabin Comparison

The HondaJet Elite II ($1,183/hr) has a higher variable cost than the Cessna Citation M2 Gen2 ($1,096/hr), a 7.9% difference.

Market Comparison

Table B contains the new 2024 prices (per B&CA) for the Citation M2 Gen2 and the HondaJet Elite II ($6.15m and $7.17m, respectively, or a difference of $1.02m). Also, listed are the long-range cruise speed and range numbers (per B&CA), while the number of aircraft in-operation, the percentage for sale, and average sold are from JETNET.

At the time of writing, the Citation M2 Gen2 had seven aircraft ‘for sale’ on the used aircraft market (representing 10.8% of the fleet).

Table B - Cessna Citation M2 Gen2 vs HondaJet Elite II Market Comparison

By comparison, there were two HondaJet Elite IIs for sale. The average number of used transactions (units sold) per month over the previous 12 months was three for the Citation M2 Gen2 and two for the HondaJet Elite II.

Pre-Owned Asking Prices

Of the seven Citation M2 Gen2 business jets available for sale on the used aircraft market at the time of writing, six showed asking prices ranging from $5.65m to $6.25m. Neither of the two HondaJet Elite II jets for sale listed a price. One invited buyer enquiries while the other sought buyers seeking to share in the purchase of the aircraft.

While each aircraft serial number is unique, the Airframe Total Time (AFTT) and age/condition will cause great variation in the price of a specific aircraft – even between two aircraft from the same year of manufacture. The final negotiated price remains to be decided between the seller and buyer before the sale of an aircraft is completed.

Tax Depreciation Schedule

Aircraft that are owned and operated by businesses are often depreciable for income tax purposes under the Modified Accelerated Cost Recovery System (MACRS). Under MACRS, taxpayers can use accelerated depreciation of assets by taking a greater percentage of the deductions during the first few years of the applicable recovery period.

In certain cases, aircraft may not qualify under the MACRS system and must be depreciated under the less favorable Alternative Depreciation System (ADS), based on a straight-line method meaning that equal deductions are taken during each year of the applicable recovery period. In most cases, recovery periods under ADS are longer than recovery periods available under MACRS.

There is a variety of factors that taxpayers must consider in determining if an aircraft may be depreciated, and, if so, the correct depreciation method and recovery period that should be utilized. For example, aircraft used in charter service (i.e. Part 135) are normally depreciated under MACRS over a seven-year recovery period, or under ADS using a twelve-year recovery period.

Aircraft used for qualified business purposes, such as Part 91 business use flights, are generally depreciated under MACRS over a period of five years or by using ADS with a seven-year recovery period.

There are certain uses of the aircraft, such as non-business flights, that may have an impact on the allowable depreciation deduction available in any given year.

The US enacted the 2017 Tax Cuts & Jobs Act into law on December 22, 2017. Under the Act, taxpayers could deduct up to 100% of the cost of a new or pre-owned aircraft purchased and placed in service before January 1, 2023.

This 100% expensing provision is a huge bonus for aircraft owners and operators. After December 31, 2022 the Act decreased the percentage available each year by 20% to depreciate qualified business jets until December 31, 2026. Beginning January 1, 2024, that deduction was reduced to 60%.

Table C and D depict an example of using the MACRS schedule for a 2024-model Cessna Citation M2 Gen2 and HondaJet Elite II, respectively, in private (Part 91) and charter (Part 135) operations over five- and seven-year periods. The price is as published by B&CA at the time of writing.

Tables C and D - Cessna Citation M2 Gen2 vs HondaJet Elite II Tax Depreciation Samples

Productivity Comparison

The points in Chart E are centered on the same aircraft. Pricing used in the horizontal axis is as published in B&CA. The productivity index requires further discussion since factors used can be somewhat arbitrary. Productivity can be defined (and it is here) as the multiple of three factors:

• Four Passenger Range (nm) with available fuel.
• The long-range cruise speed flown to achieve that range.
• The cabin volume available for passengers and amenities.

Chart E - Cessna Citation M2 Gen2 vs HondaJet Elite II Productivity Comparison

Others may choose different parameters, but serious business aircraft buyers are usually impressed with price, range, speed, and cabin size.

In Summary…

The HondaJet Elite II places well on the productivity chart due to its longer range, higher speed and larger cabin volume. The ‘Available Payload with Maximum Fuel’ is also a little more with the HondaJet Elite II.

However, the extra performance comes at a cost which, according to B&CA, is $1.02m, while the Citation M2 Gen2 is also more frugal with lower operating costs, per JETNET data.

The question becomes, how much value does an operator place on the performance increases of the one model over the other? At the lighter end of the business jet spectrum there tends to be more cost consciousness, so prospective buyers will evaluate each option carefully to see how much of their mission requirement each model will fulfil before making the choice.

Within these paragraphs we have touched upon several of the attributes that business jet operators value, although there are other qualities, such as airport performance, terminal area performance and time-to-climb that might factor in a buying decision.

Ultimately, there is plenty for a prospective buyer to consider when deciding which performance criteria is better suited to them in an aircraft. Both business jets offer great value in the market today.