The nation’s third-largest fractional jet program will continue to pursue a “stealth wealth” clientele while offering them customized solutions to their private aircraft travel needs beyond traditional fractional sales, and that may mean bringing more capital into the company, according to Flexjex president Deanna White.
Charter brokering group Air Partner is predicting further “slow but steady recovery” during 2013. However, in a forecast issued yesterday, the UK-based company also said that it expects to see more business failures in the charter market and what it says will be further contraction in fractional ownership.
Saudi Arabia’s NasJet claims it is poised to grow revenues by 20 percent next year, after a healthy 6 percent gain during 2012. The increase, according to CEO Ghassan Hamdan, is due to growing aircraft management and operations support and more local charter agreements and charter business. In the first quarter of 2013, NasJet will open a new FBO at King Khalid International Airport in Riyadh in conjunction with Switzerland’s ExecuJet.
AIN asked NetJets Europe to comment on the market conditions that have led it to seek further cuts among its pilot workforce. The company responded with the following written answers:
Demand for private aviation is clearly proving slow to recover. What is your current projection for demand levels going into 2013 and 2014?
Riding a Brazilian economy that continues to grow, fractional ownership and aircraft management company Avantto is finding a ready market and looks forward to more of the same.
In less than two years, with the backing of Brazilian asset management and private equity firm Rio Bravo, Avantto has signed more than 350 customers and assembled a fleet of 24 jets and 23 helicopters.
According to founder and president Rogèrio Andrade, Avantto’s fractional business model fits the needs of the country’s expanding economy and growing dependence on aviation.
Pratt & Whitney Canada has signed a 15-year on-condition fleet maintenance program (FMP) with NetJets for the PW306D turbofans that will power the Cessna Citation Latitudes that the fractional ownership operator will begin flying in 2016. With the on-condition FMP, there are no hard-time intervals for hot-section inspections or overhauls, offering what P&WC describes as new levels of flexibility to the operator. Instead, P&WC evaluates each engine enrolled in the FMP and makes maintenance decisions based on how the engine is performing.
Fractional ownership giant NetJets Europe (Stand 7051) is diversifying into aircraft management services. In an interview with AIN, sales director Marine Eugene explained that NetJets Aircraft Management has been established as a separate operation and will soon have its own air operator’s certificate (AOC). It will focus on large-cabin and long-range business jets, from the size of the Dassault Falcon 2000 upwards.
NetJets Europe announced this week at EBACE that it is diversifying into aircraft management services. According to NJE sales director Marine Eugene, NetJets Aircraft Management has been established as a separate operation and will soon have its own air operator’s certificate. It will focus on large-cabin and long-range business jets, from the size of the Dassault Falcon 2000 upwards.
Associated Aircraft Group (AAG), a Sikorsky Aircraft subsidiary specializing in S-76 operations on the East Coast, has marked “40,000 hours of safe flying” in 17 years. AAG president Scott Ashton emphasized that his company has implemented a safety management system “that encompasses a comprehensive culture of risk management and safety promotion and policies.”
AAG lays claim to being the only executive helicopter company to own and operate an FAA Part 145 maintenance facility.
The world leader in fractional ownership is coming to China, but fractional shares won’t be on its service menu here–at least for the time being. After years of looking to enter the Chinese private aviation market, here at the ABACE show yesterday NetJets finally confirmed plans for a new joint venture in the People’s Republic of China.