Flexjet exception to frax industry growth
With the exception of Bombardier Flexjet, 13 major and minor players in the fractional industry continued their growth cycle last year, according to Wichita-based AvData. Total net shares last year surged past 6,200, up 6.7 percent from 2002. During the same period, the fractional turbine fleet grew 6.1 percent–to more than 800 aircraft. NetJets, the largest fractional provider, continues to dominate the industry, with 47.6-percent market share among the Big Four. The fastest-growing fractional provider is CitationShares. AvData reported that Flexjet reduced its fleet by 13.3 percent and its number of net shares dropped 8.4 percent.