Fractional share provider Flight Options’ business is growing at a healthy clip, the Cleveland, Ohio-based company announced yesterday. “We’re definitely seeing a significant increase in hours flown and customer utilization,” said Matt Doyle, executive vice president of sales and marketing. “We’re seeing folks are much more comfortable using their hours. On the business side, they’re using their airplanes to meet customers and clients and expand their business. On the personal side more folks are flying.”
Fractional share sales remain the company’s strongest product, although its recently launched Jet Membership program is also selling well, Doyle said, with overall sales up 30 percent year-over-year. On the fractional side, during 2012 Flight Options saw a 70-percent increase in “conquest growth”–shares sold to buyers who have left other programs.
Flight Options operates Embraer Phenom 300s and Legacy 600s; Beechjet/Hawker 400s and Hawker 800s; Nextant 400XTs; and Cessna Citation Xs. Buyers of Nextant 400XT shares are looking for value, Doyle said. “The owner coming out of a Beechjet 400 into the 400XT is not only gaining 50-percent more range, but saving about $1,000 an hour on operating costs.”
Flight Options also reported that it has been “profitable on an operating basis in each of the last four years.”