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Out of the CE-500 type, which aircraft would you choose?

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I suppose by "most modern" I didn't necessarily mean newest, but most advanced of the two 560s (V or Ultra) you mentioned.

Poor terminology on my part.

I think you'd have luck with insurance allowing you to fly a 550 after a 560 initial, whereas if you did a straight II or even the Bravo they may not allow you to fly a V or Ultra.
 
The CE500 type rating covers the CE-500, CE-501, CE-550, CE-551, CE-552, CE-550S, CE-550B, CE-560, CE-560 Encore, and the CE-560 Ultra. Reference:

http://162.58.35.241/e.gov/airmen/Type_Rating_Table.pdf

The type rating will look the same in your pocket regardless of which of the above aircraft you choose to do your training. As Boiler wisely pointed out, insurance is the name of the game in business aviation and is worth considering. However, any company worth their weight in manure will send you to a recurrent or transition course should the need arise to satisfy insurance requirements to pilot their 500 series Citation.

A big congratulation on the scholarship!! I won this same type rating scholarship last year from SimuFlite. I finished my two week training course last October. Feel free to PM me with any questions you may have regarding the training at CAE SimuFlite.
 
Do it in the ultra. I reccomend this because there are more of these aircraft around than pretty much and other jet. Netjets is currently disposing of them and they will be putting another 75 on the market in the next few years. Those are well maintained fairly inexpensive to purchase aircraft. That just means more corporate ops will be picking them up and need pilots. It is also a really easy to fly jet. Good first jet airplane easy to fly and forgiving.
 
FSI has a 7 day XL/XLS initial for 560 Ultra Current pilots. So I would probably go for the Ultra if all things are equal. Good luck, I currently fly with someone that did the 560 scholarship and hired right into a Fortune 500 company with about your same time!
 

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