Britain’s Office of Fair Trading (OFT) has said that it will not continue to investigate a complaint made against NetJets Europe because it has insufficient resources to do so.
Flight Options announced yesterday that it entered into a three-year, $167 million financing agreement with Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) to finance the fractional jet provider’s order for up to 150 Embraer Phenom 300 light jets.
Flexjet added two new benefits for its fractional jet owners: a 90-day satisfaction guarantee and an unlimited carry-forward hours program. The satisfaction guarantee allows owners to exit their contract for any reason within the initial three-month period, regardless of contract.
The current pre-owned aircraft market can be defined as consistent as inventory continues to inch down, month-after-month. Many people regard this consistency to be welcome news, considering where the market was a couple of years ago.
Avantair now offers leasing of fractional shares of Piaggio Avanti turboprops. The new Axis lease program allows buyers to lease a share of a fractional Avanti; this is a true lease, not a block-charter program.
Cleveland-based Flight Options said it saw renewed interest in fractional share and jet card (JetPass) sales during the first quarter, noting that net share sales doubled from a year ago while JetPass sales climbed by 46 percent. Flight Options officials declined to specify the exact number of net fractional shares sold, but did say that first-quarter gross share hour sales grew significantly from 225 hours last year to 1,275 hours this year.
Cleveland-based Flight Options today announced 467-percent and 46-percent year-over-year growth in fractional share and jet card (JetPass) sales, respectively, during the first quarter. In addition, fractional utilization in the quarter climbed by 8 percent from a year ago, while JetPass flight revenue hours rose 35 percent.
Revenues at Berkshire Hathaway’s “other services” segment–which includes fractional jet provider NetJets and flight-training company FlightSafety International–climbed by $770 million (up 12 percent year-over-year), to $7.4 billion, according to the company’s 2010 financial results. Pre-tax profits at the division soared to $984 million, versus a $91 million loss in 2009.
Revenues at Berkshire Hathaway’s “other services” segment–which includes fractional jet provider NetJets and flight-training company FlightSafety International–climbed by $770 million (up 12 percent year-over-year), to $7.4 billion, according to the company’s 2010 financial results, released on Saturday.
Overall business aircraft flight activity climbed 4.4 percent last month year-over-year, bolstered by a double-digit-percent resurgence in Part 91 corporate operations, according to TraqPak data released today by aviation services company Argus. Part 91 flying climbed 10 percent in December compared with the same month in 2009, which followed a year-over-year 12.2-percent increase in November.