Charter and Fractional » Fractional

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

March 16, 2007 - 10:55am

Raytheon Aircraft signed a 10-year agreement with NetJets for the maintenance of the fractional-ownership operator’s fleet of Hawker 1000s, Hawker 800XPs and Hawker 400XPs. The contract includes options beyond the initial 10 years. Hawker 1000 and 800XP heavy maintenance will be performed at the Hawker Service Center in Little Rock, Ark. Maintenance for the Hawker 400XP will be done at Raytheon Aircraft Services in Tampa, Fla..

March 16, 2007 - 9:44am

Flight Options, the second-largest fractional aircraft provider, last month named Michael Scheeringa as COO. Formerly v-p of US Airways’ Express division, Scheeringa will be responsible for the overall operations, maintenance, procurement and customer care for Flight Options. He will report directly to Flight Options chairman and CEO John Nahill.

March 16, 2007 - 9:41am

At least 250 pilots are estimated to be hired this year by the Big Four fractional providers, according to Aviation Information Resources (AIR). This is about 50 more than were hired last year. If the estimate turns out to be accurate, it will reverse a slide that frax hiring has been on since the Atlanta-based firm began tracking the employment situation at such operators four years ago.

March 15, 2007 - 8:01am

When the ICAO Assembly meets in Montreal late this month, the International Business Aircraft Council (IBAC) will propose standardization of international regulations governing fractional ownership operations. At present, the U.S.

March 15, 2007 - 8:00am

When the economic bottom slipped from under the business aviation industry in 2001, those in the fractional ownership market were unsure where it would leave them. Recession was a new experience for those in the fractional market, which had come into its own in the mid-1990s, after the recession of the late 1980s and early 1990s.

March 7, 2007 - 8:24am

Net sales for Flight Options increased in the fourth quarter of last year compared with the same period in 2005, but the fractional provider recorded an operating loss. Nevertheless, parent Raytheon stands by its fractional provider. “Flight Options essentially met or exceeded all the operational objectives that we had in place,” said Raytheon CFO Dave Wajsgras.

March 7, 2007 - 8:06am

Avantair is offering a limited-time incentive to new buyers of Piaggio Avanti fractional shares. Customers who sign on the dotted line before March 20 are eligible to win a college basketball championship game day package consisting of round-trip travel aboard an Avanti and four tickets to the big game in Atlanta on April 2.

February 19, 2007 - 5:22am

Eclipse Aviation’s fourth conforming flight-test aircraft, N505EA, which experienced a gear-up landing on September 4 at Albuquerque International Sunport, will be repaired and back in the air by the end of October, according to a company spokesman. The two pilots on board were not injured during the accident, which Eclipse said was caused by pilot error.

February 19, 2007 - 5:20am

Fractional ownership provider NetJets Europe has launched a dedicated operation for the Scottish market. The new NetJets Scotland service will offer flights from 17 Scottish airports, including the Royal Air Force bases at Lossiemouth, Leuchars (close to the exclusive St. Andrews golf course) and Kinloss. It will also provide access to the country’s mountainous Highlands region, as well as to the Orkney, Shetland and Hebrides Islands.

February 12, 2007 - 11:42am

After nine months of intense bargaining, NetJets’ unionized pilots (represented by the International Brotherhood of Teamsters) and management reached a tentative agreement (TA) on Saturday. The move comes four years after the pilots’ contract became amendable in October 2001.

 
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