Charter and Fractional » Fractional

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

October 25, 2006 - 5:06am

Piaggio Avanti frax operator Avantair has a new owner–Alfred Rapetti–and in the middle of next year will relocate its headquarters from Caldwell, N.J. to Clearwater, Fla. The company originally opened the Florida facility this summer as a southeast maintenance and operations base. Avantair currently operates 21 Avantis and plans to double that number by the end of the year.

October 23, 2006 - 8:03am

At the EBACE gathering in Geneva earlier this year, the joint industry working group on business aircraft operations (IWG-BAO), which includes NBAA, the European Business Aviation Association (EBAA) and the General Aviation Manufacturers Association (GAMA), presented the initial findings of its work on corporate, fractional and commercial operations, with a view toward making a recommendation to the ECAC Task Force on fractional ownership.

October 20, 2006 - 11:55am

The time has come, your boss tells you, to buy another aircraft. So you jump to the task, do your research and find just the aircraft the boss needs. But before she signs her name on the purchase contract, she calls you and asks, “Do you think we need title insurance?”

October 19, 2006 - 12:05pm

Contract talks between NetJets management and pilots broke down once again on September 12, three days shy of a scheduled 30-day marathon bargaining session. The pilots’ union negotiation committee said it walked out of the talks “because the company has continuously failed to respond to the union’s position regarding the pilot group’s bargaining thresholds,” namely salary expectations.

October 19, 2006 - 10:11am

PlaneSense, the Pilatus PC-12 regional fractional ownership program of Manchester, N.H.-based Alpha Flying, celebrated its 10th anniversary last month. The company, thought to have more than 100 shareowners, currently operates 20 PC-12s and has more on order. The company was formed to address the “shorter-distance, regional needs” of its shareowners.

October 19, 2006 - 7:07am

Fractional ownership provider NetJets Europe has launched a dedicated operation for the Scottish market. Through NetJets Scotland the company will offer flights to and from 17 Scottish airports, including the Royal Air Force bases at Lossiemouth, Leuchars (close to the exclusive St. Andrews golf course) and Kinloss.

October 17, 2006 - 10:47am

Cleveland-based fractional provider Flight Options announced three new buyer-incentive programs. Until December 16, buyers of a three-thirty-second share (75 hours of annual usage) in a new Hawker 400XP will get an extra 25 occupied hours per year (a total of 100 hours) with no additional capital outlay.

October 17, 2006 - 6:10am

Four years after their contract became “amendable,” the unionized NetJets pilots may finally have a new work agreement. On October 8, the bargaining committee for pilots at Berkshire Hathaway-owned fractional provider NetJets reached a tentative agreement (TA) with the company.

“With this agreement a better future for the pilots and families can be assured,” noted NetJets master executive council (MEC) president Bill Olsen.

October 16, 2006 - 6:46am

A new European fractional ownership program that will begin operations this month is offering shares in pre-owned Cessna Citation CJ1s. UK-based European Business Jets (EBJ) was launched through a $3.7 million share flotation on the London Stock Exchange’s AIM small companies market in April. It expects to operate a fleet of five CJ1s by year-end and to double that number by the end of next year.

October 12, 2006 - 9:23am

Marquis Jet card owners and guests now have access to medical support from the famed Mayo Clinic of Rochester, Minn., while they are on a NetJets aircraft or at their destination anywhere in the world, 24 hours per day. Marquis Jet sells 25-hour blocks of travel time exclusively on NetJets aircraft.

 
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