Helicopter leasing company Milestone Aviation Group signaled its intention to offer stock to the public–an initial public offering (IPO)–yesterday in a filing with the U.S. Securities and Exchange Commission. No date for the IPO has been set, nor has any valuation been placed on shares to be offered. Milestone was founded by former NetJets CEO and founder Richard Santulli in 2010 with an initial capitalization of $500 million. The company’s current fleet is valued at $2.2 billion and it has more than 145 helicopters on order worth $3.4 billion.
FlightSafety International is offering online training for the ground school portion of its Gulfstream G550 recurrent pilot training course. The company’s G550 eRecurrent training course is available for pilots who operate their aircraft under FAA or EASA regulations and replaces the two-day, in-person recurrent training course. It includes a 13-hour ground school eLearning module and instructor-lead LiveLearning CRM training. The simulator sessions, systems integration training and written exam portions of the course still must take place at a FlightSafety learning center.
Textron Aviation confirmed to AIN that it will terminate flight operations at its former fractional and charter/management operation, CitationAir, on October 31. The move comes 2.5 years after CitationAir stopped selling fractional shares in new aircraft and ceased renewals for current fractional-share customers in February 2012, saying at that time it would instead focus on its jet card and aircraft management products. The company is now abandoning even that modest plan.
Avantto is one of Brazil’s most active aircraft management and fractional ownership companies. In addition to its more traditional services, it launched a new Combo program this year under which owners can purchase a share that includes flight time in both a fixed-wing aircraft and a helicopter.
NetJets subsidiary NetJets China successfully completed proving runs in China, the fourth phase in the process to receive an air operator certificate (AOC) from the Civil Aviation Administration of China. The proving runs were conducted just over a week ago in two Hawker 800s that will be the first aircraft in the NetJets China fleet.
Revenue at Berkshire Hathaway’s service business, which includes NetJets and FlightSafety International, rose by $507 million, to $4.9 billion, during the first half of the year, while profits climbed by $72 million, to $605 million. NetJets accounted for nearly a third of this revenue increase, thanks to higher flight services revenue attributable to more flight hours, as well as better rates and product mix changes. FlightSafety’s revenue also climbed due to increased simulator training activity.
The Embraer Phenom 300 handed over to NetJets on Friday at Embraer Executive Jets’ Melbourne, Fla. facility marked three major milestones for the light jet program. It not only was the 25th Phenom 300 delivered to the fractional aircraft provider, it was also the 200th Phenom 300 and the 75th U.S.-assembled Phenom.
Fractional aircraft ownership firm Executive AirShare hired industry veteran Pete Pedicino as regional vice president of sales for Dallas and South Texas. In his new role, Pedicino “will drive Executive AirShare’s growth in key Texas markets.” The company now serves customers in Houston, San Antonio and Austin, and has served customers in Dallas and Fort Worth since 2006. Pedicino has spent the past 14 years in the fractional aircraft ownership industry, most recently as senior vice president of sales with NetJets.
Regional fractional provider Executive AirShare’s operating arm, Executive Flight Services, earned International Standard for Business Aircraft Operations (IS-BAO) certification. Executive Flight Services earned IS-BAO Stage One certification following an audit of its safety management system, organization and personnel, standard operating procedures, training programs, flight operations, aircraft equipment and maintenance requirements. Executive AirShare operates 50 aircraft in its fractional and managed fleets from bases in six Central U.S. cities and Buffalo, N.Y.
Satcom Direct has added dedicated classrooms as part of the cabin communications lab where it provides training in conjunction with FlightSafety. Satcom Direct has worked with the FlightSafety learning center in Savannah, Ga., since 2012 to develop and deliver training classes on satcom technology for Gulfstream operators. The training is delivered in partnership with Gulfstream’s Total Technical Training (TTT) program.
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