Flight Options Flying Higher

AINalerts » February 16, 2012
February 16, 2012, 3:30 PM

Flight Options, the second-largest fractional jet provider in the U.S., said 2011 was one of its best years and expects the momentum to continue to build this year. In fact, the Cleveland-based company reported a jump in new fractional owners last year versus 2010.

“One of the statistics from 2011 of which we are most proud is that more than one-third of all new owners came from referrals–a strong and appreciated endorsement from our current owners,” noted Flight Options CEO Michael Silvestro.

The company also added 14 new jets to its fleet–10 Embraer Phenom 300s, two Nextant 400XTs and two Cessna Citation Xs. Based on this tally, Flight Options claims it took delivery of more business jets than any other fractional operator worldwide last year. Company chairman Kenn Ricci also pointed out that the aircraft added last year were “100-percent sold out,” generating $108 million in sales revenue at the fractional provider.

Flight Options plans to build on last year’s success in the coming months by taking further deliveries of the Phenom 300 and Nextant 400XT (nine and seven, respectively), expanding its jet-card offerings and adding new aircraft programs.

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