CharterAuction.com is claiming that “many [fractional] customers who were sold [shares] five years ago on the basis of a 90-percent aircraft resale value are receiving less than 60 percent.” This is, in many cases, in addition to a 5- to 10-percent remarketing fee charged by the fractional management company.
Aviation International News » April 2003
Since its launch two months ago, CharterAuction.com said its block-charter auction program has offered 50-percent or greater savings over competing fractional-ownership and charter membership card programs.
FlightSafety International and CAE SimuFlite have separately introduced a four-hour course to meet the FAA’s new training requirements for pilots who want to use the recently published Localizer DME Runway 15 approach for Aspen Airport, Colo. The FAA requires pilots to receive two hours of ground instruction and two hours of simulator time.
Indigo chairman and CEO Peter Pappas made it clear last month that actions by New Jersey Gov. James McGreevey to block service by Indigo to Teterboro Airport had no legal basis for justification. “We’re bringing a service into an area where it is very much needed, and he [McGreevey] and others are doing nothing more than using a non-issue as a platform to enhance their positions with their constituents,” said Pappas.
Indigo originally launched its “regular and frequent” business aircraft service between Chicago Midway Airport and Teterboro Airport in New Jersey with a Falcon 20 in February 2000. On March 3 the company relaunched the service with its first 16-passenger Embraer Legacy Shuttle.
Brothers to the Rescue has ceased operations. Since the early 1990s, the Miami-based Cuban-exile group had flown Cessna 337s and other light general aviation airplanes in search-and-rescue patrols off the coast of Cuba as thousands of Cubans fled the Communist island. In recent years, the group has drastically reduced its activities as Cubans sought modes of escape less dangerous than makeshift rafts and small boats.
In response to continued inquiries into DRVSM, NBAA has created two documents to provide more information: an RVSM timeline that explains the history of RVSM since its inception in March 1997, and an issues paper that outlines the association’s answers to the most common questions and concerns about DRVSM.
The FAA has released a supplemental notice of proposed rulemaking (NPRM) regarding implementation on Jan. 20, 2005, of domestic reduced vertical separation minimum (DRVSM) airspace. The agency is adding a proposal to implement RVSM between FL290 and FL410 in Atlantic and Gulf of Mexico high offshore airspace and in the San Juan, Puerto Rico flight information region (FIR).
Sino Swearingen last month started test flying the second conforming version of its SJ30-2 twinjet, a milestone that company president and CEO Carl Chen described as a “tremendous step toward” FAA certification.
All three people aboard a Citation Eagle II were killed when the twinjet crashed while on approach in rain and mist to Friedman Memorial Airport in Hailey, Idaho, on the afternoon of March 15. The Eagle II is a Citation 501 with Williams FJ44 engines in place of the original P&WC JT15Ds. The accident aircraft, a 1978 Citation 501SP registered as N70FJ, was recently modified by Sierra Industries, the former holder of the Eagle II STC.