Fractional Share Sales Take Off at Flight Options

 - April 12, 2011, 10:45 AM

Cleveland-based Flight Options today announced 467-percent and 46-percent year-over-year growth in fractional share and jet card (JetPass) sales, respectively, during the first quarter. In addition, fractional utilization in the quarter climbed by 8 percent from a year ago, while JetPass flight revenue hours rose 35 percent. “We are pleased with the steady progress we have seen in bookings, fractional jet and jet card sales, and other key measures of our business during the past two years, and that momentum is carrying over into 2011,” said Flight Options CEO Michael Silvestro. Company chairman Kenn Ricci added, “Our investments over the past two years in fleet enhancements, customer service, sales and operations are helping drive demand across our entire customer base, from fractional owners to jet card users. The improvements helped us achieve our second consecutive year of profitability on an operating basis last year.” The fractional provider also announced today a second recall of furloughed pilots to help meet growing demand. It will recall up to 24 furloughed pilots in phases, with eight pilots initially reentering active service this month. Flight Options also recalled eight pilots last month. Additionally, the company plans to reopen its Sacramento, Calif. maintenance service center to expand its operating capacity on the West Coast.