Fractional ownership

August 11, 2013 - 1:00pm
Agusta 109

Aircraft fractional ownership is a concept that has been slow to take hold in Latin America, most likely the result of an installed business aircraft customer base too small to support such an effort. But it is growing.

One of the more established fractional ownership programs in Latin America is MexJet, a business unit of long-time Mexican aviation services provider Aerolínas Ejecutivas.

August 8, 2013 - 3:56pm

Yesterday afternoon fractional operator PlaneSense took delivery of the milestone 1,200th PC-12 at its Portsmouth, N.H. headquarters, during a ceremony hosted by PlaneSense founder and CEO George Antoniadis. Pilatus Business Aircraft president and CEO Thomas Bosshard was among the guests.

August 6, 2013 - 2:45pm

Fractional provider Bombardier Flexjet says it experienced 96-percent growth in new fractional and jet card sales during the first six months versus the same period last year. The company said sales of new fractional shares climbed by 112 percent, while new jet card sales gained 68 percent. “The skies continue to brighten for Flexjet,” said Flexjet president Deanna White.

July 29, 2013 - 9:10am

The future of Avantair, the operator of Piaggio Avanti fractional ownership, Axis Lease and Edge Card flight access programs, was hanging in the balance at press time as the Clearwater, Fla.-based company urgently sought restructuring options following its June 26 cessation of operations.

July 18, 2013 - 2:00pm

As prospects dim for Avantair, the Clearwater, Fla.-based Piaggio Avanti turboprop fractional ownership program, concerns about its future are taking a back seat to questions about how owners will recover their aircraft. Among recent developments:

July 16, 2013 - 2:30pm
These four Avantair aircraft, at New York-area Teterboro Airport, were repossessed by Rapid Aircraft Maintenance Services, which is planning to auction the aircraft if Avantair does pay its maintenance bills. (Photo: Kirby J. Harrison)

The eleventh-hour proposal to restructure Avantair, the Clearwater, Fla.-based Piaggio Avanti turboprop fractional ownership program, is on hold amid owner resistance.

June 28, 2013 - 1:11pm
Piaggio Avanti fractional provider Avantair shut down yesterday and furloughed employees as it “seeks alternative financing arrangements that it hopes will enable it to resume operations."

Fractional provider Avantair shut down today and furloughed employees as it “seeks alternative financing arrangements that it hopes will enable it to resume operations as quickly and efficiently as possible,” according to a June 26 8-K SEC filing.

May 21, 2013 - 2:30pm
VistaJet

VistaJet’s bullish expansion plans have long turned the heads of more conventional charter sector rivals suspicious of how well-founded its business plan would prove to be in a sector that has struggled to regain profitability since the ravages of the financial crisis.

April 23, 2013 - 3:15pm

Aircraft lease, equity charter and fractional provider Executive AirShare says it recorded its “most successful” year ever and the third consecutive year of double-digit growth last year. The Kansas City, Mo.-based regional fractional operates the largest fleet of Embraer Phenoms, with more than 140 fractional shareowners and another 36 members in its lease and aircraft management programs. The company has 43 aircraft–King Airs and Phenom 100s and 300s–in its combined fractional and managed fleets and more than 140 employees at six cities in the Central U.S.

April 17, 2013 - 5:24am

Deer Jet launched the first fractional aircraft program in China yesterday here at ABACE 2013. It is now selling shares in a Gulfstream G450 and a G550, the latter of which is on display this week in the show’s static display.

“As the largest aircraft charter company in Asia and the first to do aircraft management in China, it is our responsibility to create a fractional share product here,” said Hu Lei, general manager of asset management for Deer Jet. “We also believe it is the right time to offer this type of program in China.”

 
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