Jet Connections Helps Business Aircraft Owners Share
Business aircraft owners struggling to cover their costs now have an alternative to traditional aircraft management through the new Non-Equity Sharers (NES) program offered by UK-based Jet Connections. The Oxford-based company is offering to find up to three people or companies to share use of an aircraft with the owner by dividing the fixed operating costs and making each owner responsible for his individual flight-hour costs. NES will be based on an annual contract between the owner and those sharing the aircraft. Aircraft availability and all aspects of managing the legally binding agreements will be handled by Jet Connections for an annual fee of approximately £40,000, which is split evenly among the four participants. Aircraft will be managed either by the owner’s existing management company, assuming it holds a commercial air operator’s certificate (AOC), or by an AOC holder selected by Jet Connections. Managing director Zaher Deir told AIN that he has provisional agreements with several aircraft management companies willing to operate specific aircraft under their AOCs. Eventually, Jet Connections might apply for its own AOC. Users would share the cost of insurance, as well as those for management, maintenance and pilots. Each user would pay direct costs such as fuel, landing fees, en route ATC charges and handling for a specific flight.