Embraer Executive Jets delivered the first of up to 125 “Signature Series” Phenom 300s to NetJets during a ceremony on May 1 at the aircraft manufacturer’s Phenom assembly facility in Melbourne, Florida. In October 2010 NetJets placed a firm order for 50 of the specially outfitted light jets, with options for 75 more. Including all options, the order is worth more than $1 billion.
Charter and Fractional » Fractional
News and issues concerning the fractional-ownership industry and markets, including company announcements, regulations, new developments and labor issues.
Embraer Executive Jets delivered the first of up to 125 “Signature Series” Phenom 300s to NetJets during a ceremony yesterday at the aircraft manufacturer’s Phenom assembly facility in Melbourne, Fla. In October 2010 NetJets placed a firm order for 50 of the specially outfitted light jets, with options for 75 more. Including all options, the order is worth more than $1 billion.
Aircraft lease, equity charter and fractional provider Executive AirShare says it recorded its “most successful” year ever and the third consecutive year of double-digit growth last year. The Kansas City, Mo.-based regional fractional operates the largest fleet of Embraer Phenoms, with more than 140 fractional shareowners and another 36 members in its lease and aircraft management programs. The company has 43 aircraft–King Airs and Phenom 100s and 300s–in its combined fractional and managed fleets and more than 140 employees at six cities in the Central U.S.
Deer Jet launched the first fractional aircraft program in China yesterday here at ABACE 2013. It is now selling shares in a Gulfstream G450 and a G550, the latter of which is on display this week in the show’s static display.
“As the largest aircraft charter company in Asia and the first to do aircraft management in China, it is our responsibility to create a fractional share product here,” said Hu Lei, general manager of asset management for Deer Jet. “We also believe it is the right time to offer this type of program in China.”
Beijing-based Deer Jet launched the first fractional aircraft program in China today in Shanghai at ABACE 2013. Deer Jet, which has 30 business jets spanning 13 types in its charter and management fleet, is currently selling shares in a Gulfstream G450 and G550, the latter of which it has on static display this week at the show.
The Deer Jet “Time Share” program is customized for the Chinese market and is targeted to customers who fly between 100 and 300 hours per year. There are two distinct products under Time Share: fractional aircraft shares and block charter.
NetJets says that it has made good progress with its joint venture in the People’s Republic of China since announcing its entry into the country’s private aviation market during last year’s ABACE. It will begin by managing and chartering aircraft that are wholly owned by customers, rather than launching into fractional ownership as it did several years ago in the U.S. and Europe. However, fractional aircraft and card services may be added later as the market for private aviation services in China continues to develop, it noted.
Bombardier Flexjet appointed Ryan McGinn as sales director for the New York City territory, where he will sell fractional jet ownership, jet cards and charter brokerage services to clients in the area. McGinn comes to Flexjet from a 20-year career at Callaway Golf, where he was the top sales director for the past 10 years. He also has previous experience in the aviation industry through his tenure at America West Airlines, where he served as a customer service representative for three years.
Flexjet appointed Jason Weiss as its new vice president of operations. In his new role, he is responsible for managing the fractional operator’s flight operations, training, technical operations, operations analysis and fleet management, the owner operations center and procurement. Weiss–who replaces David Gross, who is retiring from Flexjet after 13 years–comes from NetJets, where he was the vice president of crew resource planning.
Fractional share provider Flight Options’ business is growing at a healthy clip, the Cleveland, Ohio-based company announced yesterday. “We’re definitely seeing a significant increase in hours flown and customer utilization,” said Matt Doyle, executive vice president of sales and marketing. “We’re seeing folks are much more comfortable using their hours. On the business side, they’re using their airplanes to meet customers and clients and expand their business. On the personal side more folks are flying.”