Flexjet launches 'Jet Rich Quick' financing

 - March 28, 2007, 12:26 PM

Last month, fractional provider Bombardier Flexjet announced a program for substituting a finance lease for the acquisition payment of a fractional share. Under the “Jet Rich Quick” program, customers pay no money down and a fixed monthly payment for the lease, which could involve a term of two or four years. They also pay the regular monthly management fee and the hourly occupied fee for time flown. Monthly lease payments for a sixteenth share under the new plan range from $4,600 for a Learjet 45 under a four-year lease term to $12,000 for a Challenger 604 under a two-year term. According to Bombardier, the finance lease offers all the advantages of ownership, including potential tax-depreciation credit. Meanwhile, Bombardier selected Global Wings of Tokyo to provide Flexjet Asia-Pacific charter flights.