Jet Republic Throws Down Gauntlet to NetJets Europe

By Charles Alcock

AINalerts >> September 2008
Charter, Fractional

Jet Republic today announced the launch of a major new European fractional ownership, lease and block charter program and revealed itself as the previously unidentified customer for up to 110 Bombardier Learjet 60XRs (25 of which are firm). Deliveries will begin in October next year and will run at a rate of about one aircraft per month. The start-up operation will be based in Portugal, a country that CEO Jonathan Breeze described as having “an impressive regulatory environment for fractional ownership” and which is already the home aircraft registry for the rival NetJets Europe fleet. Jet Republic is backed by Austria’s Euram private bank and a consortium of its clients and has been launched on a debt-free basis. Fractional, lease and jet-card sales are set to begin on September 29. Shares in the Learjet 60XR will start at one-sixteenth, providing 50 flight hours per year, extending up to a half share with 400 hours. Jet Republic’s 110-aircraft deal is valued at $1.5 billion, which would give each jet a purchase price of just over $13.6 million. A half share will sell for “approximately $7 million,” and shareowners will also pay monthly management fees and hourly occupied rates. Jet Republic’s charter card will offer a variety of light, midsize, large and “global” business jets operated by a group of selected operators.

Back

Lights Out for DayJet Thursday 20. of November 2008 Per-seat, on-demand very light jet (VLJ) air-taxi firm DayJet last Friday filed for Chapter 7 bankruptcy (liquidation), just four days after... [more]
Aspen Jetride Ceases Ops, Yields Charter Certificate Tuesday 18. of November 2008 Aspen Jetride, the charter operator that acquired the assets of Aspen Executive Air (AEXJet) after AEXJet filed for bankruptcy protection last... [more]
Ocean Sky Scoops Up Dean Aircraft Interiors Monday 17. of November 2008 UK-based executive charter operator Ocean Sky (Stand No. 632) has acquired Dean Aircraft Interiors for an undisclosed sum. It marks a... [more]
New York Charter Firm Adds S-76 Helo to Fleet Monday 17. of November 2008 ExcelAire of Ronkonkoma, New York, has added a Sikorsky S-76 to its fleet of business jets, which includes several Gulfstream and Cessna... [more]
Fleet of nearly 100 business jets in VistaJet’s grand plan Monday 17. of November 2008 VistaJet (Stand No. 524) has embarked on an ambitious growth plan that could see it operating a fleet of almost 100 business jets by 2012. The... [more]