Online charter broker Virgin Charter stopped “active operations” on Friday according to a company statement.
Business aviation forecaster Brian Foley sees a flat decade for the business jet
market with the prospect for OEM consolidations and big changes for fractional providers. “This is basically the lost business jet decade,” he said.
CharterX Wyvern has endorsed the NBAA’s recently published NBAA Best Practices for Air Charter Brokering. The NBAA’s best-practices protocols include operational guidelines and safety oversight procedures.
Like the rest of the aviation industry, the charter segment has suffered serious setbacks during the past year and is hunkering down and adapting to a new marketplace characterized by smaller companies, lower prices and less flying.
The Meridian Companies at Teterboro Airport come to Orlando epitomizing the old saw that “when times get tough the tough get going.” The Meridian NBAA booth (No. 1890) showcases the four facets of the New Jersey airport business: Meridian Teterboro-FBO Services; Meridian Jet Center, an FAA Part 145 repair station and detailing service; Meridian Air Charter and Meridian Aircraft Management.
Bend, Ore.-based Stratos Aircraft yesterday received the first deposit for its new single-engine Stratos 714 very light jet. Cascade Air Charter, also based in Bend, became the first buyer to put down a fully refundable, escrowed deposit on the $2 million four-seat jet. “The 714 is an impressive aircraft and is like no other on the market today,” said Cascade Air Charter owner Verson Pandian.
Executive charter activity is not recovering in line with the prevailing uptick on international stock markets, according to the latest data from online charter marketplace CharterX. While both the Wall Street-based S&P 500 Index and London’s FTSE 100 have made up for lost ground since March, the number of for-hire flights made has continued to dip or at best remain flat.
The marketing hype surrounding very light jets (VLJs) has “largely subsided,” according to Brian Foley, president of business aviation consulting firm Brian Foley Associates, and the VLJ “has yet to prove that it’s anything more than a subcompact business jet.
European very light jet (VLJ) air-taxi service Blink has opened a second base at Geneva. The operator is also about to take delivery of the seventh of 30 Cessna Citation Mustangs that are on firm order and plans to base two of the twinjets in Geneva. The rest of the fleet is currently based at the London-area Farnborough Airport or nearby Blackbushe Airport.
NBAA last week released best-practices guidelines for charter brokers that outline the regulatory environment in which air-charter brokers work, along with business-practice recommendations to benefit air-charter consumers, operators and brokers alike.