Cleveland-based fractional provider Flight Options this morning launched Fractional First, which it describes as a “purchase and use program designed to deliver up to a 15-percent increase in value through access to more hours or savings on long-haul trips.” The new program is the company’s response to the perceived lack of transparency in the industry. According to Flight Options, Fractional First offers the following benefits: no taxi time deduction, meaning occupied flight hours are calculated from wheels up to wheels down; distance-based pricing, with discounts given for flights of more than two hours in the Beechjet and more than 2.5 hours for the Citation X, Hawker 800XP and Legacy; fuel cost based on actual fuel price and the average fuel burn of the specific fleet type, including occupancy rate; and flexible-use option for utilization of 80 percent to 120 percent of annual share hours purchased, with management fees charged only for hours flown. All new Flight Options contracts will include Fractional First, while existing customers have the option to transition to a new Fractional First agreement for the remainder of their existing term.
Flight Options Raises the Stakes for Fractionals
- November 13, 2006, 8:35 AM