The Cessna Citation 501 (also known as the Model 500 series) is one of the first light corporate jets ever produced by Cessna. The Citation 501 was introduced in 1971 and was the first in a long line of Citation aircraft from Cessna. The Citation 501 was designed to provide a high-performance and low-cost alternative to the much larger business jets of the day. The Citation 501 was designed to be economical and efficient, and was the first aircraft of its kind to be certified by the FAA as a "small" jet.

Cessna designed the Citation 501 to meet the needs of business executives who wanted an aircraft that could fly faster and farther than a piston-powered airplane, but without the expense and complexity of a larger business jet. The Citation 501 was also designed to be easy to maintain and operate, making it a popular choice for business people who wanted the convenience and performance of a jet but didn't want to deal with the expense and complexity of a larger jet.

The Citation 501 is powered by two Pratt & Whitney JT15D-1 turbofan engines, each capable of producing 2,500 lbs of thrust. The engines are incredibly reliable and efficient, enabling the Citation 501 to reach maximum cruise speeds of up to 459 knots and a maximum range of 1,743 nautical miles.

The Citation 501 is an incredibly popular aircraft, with over 1,200 being produced between 1971 and 2016. The Citation 501 is also incredibly reliable, with an average time between overhaul of 3,500 hours.

Despite its popularity, the Citation 501 has faced some safety issues over its lifetime. In 2008, the FAA issued an airworthiness directive requiring all Citation 501's to be fitted with an upgraded autopilot system. This was due to several incidents where the autopilot system malfunctioned and resulted in the loss of control of the aircraft. Additionally, the Citation 501 has been involved in several fatal accidents due to pilot error and maintenance issues.

Despite its safety issues, the Citation 501 has been a groundbreaking aircraft for Cessna. It has been the benchmark for many of the innovations that have been incorporated into later Citation models, such as the Citation V and Citation X. The Citation 501 was the first to feature a pressurized cabin, a fully integrated autopilot system, and an all-glass cockpit.

The Citation 501 is an incredibly popular and reliable aircraft, and is still in use today by corporate and recreational pilots. It has proven to be a reliable and efficient platform for business aviation, and has set the standard for light corporate jets. The Citation 501 has revolutionized the way business people can travel, and its innovations have been incorporated into many of the models that have followed it.