Eclipse Receives First VLJ Order from a Fractional

AINalerts » August 11, 2005
April 11, 2007, 6:38 AM

With a firm order for 10 Eclipse 500s and an option for 10 more, London, Ontario-based OurPlane becomes the first fractional customer for the very light jet, scheduled to enter service early next year. Unlike other fractional operations, OurPlane sells shares only in one-quarter increments. Eclipse 500 share prices start at $349,900, with a monthly fixed cost of $3,500 and hourly operating costs of $369, without a pilot. Pilots for OurPlane aircraft can be individually qualified shareowners themselves (training costs not included) or hired by the shareowners from a list of professional pilots prequalified by OurPlane. Eclipse 500 shareowners can sign up for a 150-hour or a 250-hour annual usage program. OurPlane hopes to receive its first two of the new VLJs in October and November 2007, respectively, followed by four in 2008, eight in 2009 and the remaining six in 2010, assuming the company exercises its purchase options. OurPlane, which started operations in 1999, currently operates 22 Cirrus and Cessna piston singles from 15 locations across North America. In addition to the Eclipse 500, the company is planning to soon introduce the King Air C90 and Pilatus PC-12 into its fractional fleet.

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