UK charter operator LyddAir has launched its own fractional ownership program, offering shares in a variety of pre-owned twin-engine piston and turboprop airplanes. Initially, the company is offering shares in a pair of Piper Chieftains and a Beech Baron B58, but it is preparing to add a King Air 200 to the fleet.
Charter and Fractional » Fractional
News and issues concerning the fractional-ownership industry and markets, including company announcements, regulations, new developments and labor issues.
Most of the fractional executives interviewed for this article were not optimistic that very light jets (VLJs) will enter the fractional fleet.
Thirty years ago, most people would have dismissed anyone who said they’d eventually make money by selling bottled water, especially since tap water was, and still is, plentiful and nearly free. But since then, a lot of people have actually traded tap water for bottled water, resulting in skyrocketing sales of the clear liquid in plastic bottles.
Aviation One, now based at Plymouth (Mass.) Municipal Airport (PYM), offers fractional leases on a CitationJet and a Piper Seneca V piston twin. Founded in 1997, Aviation One plans to provide low-cost regional transportation for clients whose needs include both jet travel and relatively short-range trips that are more economically feasible in the Seneca.
Fractional-ownership provider NetJets has placed an order for 50 AirCell ST 3100 Iridium satellite communication systems for its growing fleet of Raytheon Hawker 400XP light business jets.
The satellite phone systems will be installed at Raytheon Aircraft Services in San Antonio before aircraft delivery. A spokeswoman for Woodbridge, N.J.-based NetJets said the fractional operator expects the first 400XP delivery this month.
Fractional ownership operator CitationShares has officially launched its Vector JetCard program, allowing individuals and companies to pre-pay for 25 hours of private flight time on CitationShares-operated aircraft.
Late last month, Cleveland-based Flight Options confirmed speculation that it was starting a jet-card program when it unveiled JetPass. The 25-hour jet cards are available for either the Beechjet 400A, Hawker 800XP or “large-cabin aircraft” (the Challenger 601, Embraer Legacy or Gulfstream IV), with respective up-front costs of $99,900, $149,900 and $249,900 (federal excise tax not included).
NetJets put some more distance between itself and mere market mortals at the Paris Air Show last month with an order for 96 new Cessna Citations valued at more than $1 billion.
Less than two months after completion of the sale of Raytheon Aircraft to the investment firms GS Capital Partners and Onex Partners for $3.3 billion, the newly formed Hawker Beechcraft announced its first fleet sale yesterday at EBACE.
The Brotherhood of Teamsters, Local 1108, which represents pilots for fractional provider Flight Options, said this week that some pilots were fired for their inability to receive Canpass authorization. According to the union, Flight Options management recently fired or otherwise forced out approximately six pilots over what it said amounted to simple traffic violations.