Charter and Fractional » Fractional

News and issues concerning the fractional-ownership industry and markets, including company announcements, regulations, new developments and labor issues.

October 11, 2011 - 3:54pm

NetJets has signed an agreement with Maguire Aviation at Van Nuys (Calif.) Airport to design a private terminal for NetJets customers and operations. One of the existing Maguire facilities will be custom designed by NetJets to accommodate the fractional-share provider’s owner-passengers. Amenities will include modern furnishings, conference rooms, a business center, crew lounge and rest areas and flight-planning facilities. 

October 3, 2011 - 2:16pm

Citing the “uncertain” economic recovery, Avantair has laid off about 20 employees, mostly at its FBOs that it owns and operates but also marketing staff in Cleveland, “to reduce costs and better position the company for its strategic future.” The company emphasized that “none of the reductions affects pilots or the safety, maintenance and service aspects of our operations.” As part of the move, Avantair has relocated

October 3, 2011 - 2:13pm

Bill Schultz, currently executive vice president and COO of CitationAir, will take over as president and CEO of the private air services company as of tomorrow.

August 29, 2011 - 10:10am

The Latin American Business Aviation Conference & Exhibition in São Paulo last month marked the dawn of fractional jet ownership in Brazil, with two companies launching programs.

August 25, 2011 - 8:40am

Flexjet, Bombardier’s Texas-based fractional ownership operation, launched a Learjet 85 program. President Fred Reid told AIN that his company will take seven aircraft initially, and eventually “a couple of dozen,” with deliveries beginning in the fourth quarter of 2013. He noted that Flexjet’s Learjet 85 prices will be 5 percent below those of the Cessna Sovereign in fractional service.

August 18, 2011 - 11:00am

Flexjet, Bombardier’s Texas-based fractional ownership program, launched a Learjet 85 program yesterday. In an interview with AIN today, Flexjet president Fred Reid said the company will take seven aircraft initially, and eventually “a couple of dozen,” with deliveries beginning in the fourth quarter of 2013. He noted that Flexjet’s Learjet 85 prices will be 5 percent below those of the Cessna Sovereign in fractional service.

July 30, 2011 - 6:55am

Flight Options entered into a three-year, $167 million financing agreement with Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) to finance the fractional jet provider’s order for up to 150 Embraer Phenom 300 light jets. In December 2007, Flight Options placed a firm order for 100 Phenom 300s and options on 50 more.

July 29, 2011 - 6:05am

CitationAir became the third of the four major jet fractional providers to have a unionized pilot workforce last month, with 52 percent of the more than 350 CitationAir pilots voting in favor of representation. Pilot voting turnout was “high,” International Brotherhood of Teamsters (IBT) 1108 president Mat Slinghof told AIN, and only a simple majority (50 percent plus one vote) was needed for the union to be voted in.

July 28, 2011 - 8:30am

Britain’s Office of Fair Trading (OFT) has said that it will not continue to investigate a complaint made against NetJets Europe because it has insufficient resources to do so.

 
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