LyddAir Launches New Fractional in UK
UK charter operator LyddAir has launched its own fractional ownership program, offering shares in a variety of pre-owned twin-engine piston and turboprop airplanes. Initially, the company is offering shares in a pair of Piper Chieftains and a Beech Baron B58, but it is preparing to add a King Air 200 to the fleet. The company bills the Air Share package as an affordable introduction to fractional ownership with flights provided under a commercial air operator certificate so that there are no restrictions on who can use the aircraft. Air Share offers one-eighth shares in the Chieftains for between £25,000 and £30,000 ($50,000 to $60,000), which entitle the owner to use the aircraft 40 days a year. Flight hours (including positioning flights) are billed at a rate consisting of the direct operating cost plus a margin of 15 percent.