NetJets terminated its franchise agreement for Middle East fractional aircraft services with National Air Services (NAS) of Saudi Arabia this week. NAS CEO Sulaiman Al-Hamdan conveyed the news to NAS employees in an email on Monday, while promising that the company’s business would continue as is.
Charter and Fractional » Fractional
News and issues concerning the fractional-ownership industry and markets, including company announcements, regulations, new developments and labor issues.
A hearing with the UK’s Central Arbitration Committee over the representation of pilots at NetJets Europe scheduled for last Friday was postponed after both sides agreed to hammer out an agreement on their own.
Fractional provider Flight Options expanded its sales force by naming Adam Tibbitts as regional sales director for the Rocky Mountain division, a newly created position. He brings more than a decade of aviation sales experience to his new role, most recently serving as the Pacific Northwest sales director for a competing fractional aircraft provider.
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.
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
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.
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.
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.
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.
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.