LABACE Convention News

Prime Fraction Adds Agusta Grand To Fleet

 - August 16, 2013, 2:00 PM
Prime Fraction Club’s fleet includes Embraer’s Phenom 100 and 300 jets, as well as a number of helicopters.

Prime Fraction Club, whose members buy shares in high-end boats and automobiles as well as aircraft, has added a new six-passenger AgustaWestland AW109 Grand to its fleet, which now features 10 helicopters. The pricing structure for the fractional ownership program offers one-quarter shares in an AW109S Grand at a buy-in cost of R$3.56 million ($1.55 million), in addition to a fixed monthly fee of R$34,724 ($15,074) for maintenance, hangar space and other costs. The cost per flight hour starts at about R$2,774 ($1,204). There is no wait charge or repositioning fee, said the São Paulo-based company.

Currently included in Prime Fraction Club’s fleet are Embraer Phenom 100 and 300 jets, and several helicopters, including a Robinson R66, Eurocopter AS350-B3E and several Agusta AW109 Powers. When the Embraer Legacy 500 business jet is certified next year, it is expected to be added to the mix.

According to Prime Fraction Club, the total value of the fractional aircraft fleet (including the expected Legacy 500) is approximately R$211.334 million ($92 million). The company also operates three yachts and four high-end automobiles under its share schemes. The aircraft, based in São Paulo and Rio de Janeiro, most frequently fly to destinations in Brazil such as major industrial cities and beach locations.

Also at LABACE 2013, Prime Fraction Club is celebrating launch of the first edition of its Journal Prime Fraction Club publication, which is focused on luxury goods and the upscale lifestyle, covering subjects ranging from the arts to sports to gastronomy.

Prime Fraction president and founder Marcus Matta said the fractional ownership concept is quickly finding favor with business travelers in Brazil.

“It’s the best way to satisfy professional needs and/or leisure moments without paying for the whole asset,” he commented.