Fractional ownership

November 1, 2012 - 6:00am

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?

October 1, 2012 - 4:30am

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.

June 20, 2012 - 12:15pm

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.

May 15, 2012 - 6:30pm

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.

May 15, 2012 - 1:30pm

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.

March 29, 2012 - 1:20pm

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.

March 26, 2012 - 1:00pm
NetJets China

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.

March 26, 2012 - 11:00am

After years of looking to enter the Chinese private aviation market, NetJets finally confirmed plans for a new joint venture in the People’s Republic of China today at the Asian Business Aviation Conference & Exhibition (Abace) in Shanghai. Though NetJets is known as the company that pioneered the sale of aircraft fractional shares in the U.S. and Europe, its services in China “will begin only with managing and chartering aircraft that are wholly owned by customers” rather than fractional ownership.

March 20, 2012 - 3:50pm

Atlanta-based Ascension Air is now offering three fully equipped 2012 Cirrus SR22Ts to individuals and pilots through its fractional ownership program. The company’s fractional ownership program requires about $10,000 down and a monthly management fee of $2,000. Ascension’s new SR22Ts include 60/40 FlexSeating in the back seat, which includes a third over-the-shoulder seat belt allowing for a fifth passenger and 60/40 fold-down seating.

March 1, 2012 - 2:35pm

As CitationAir transitions from selling fractional shares to focusing on its Jet Card and Jet Management products, the company plans to “begin reducing its aircraft fleet as Jet Share contracts expire,” according to a statement that AIN obtained yesterday from company president and CEO William Schultz. “A corresponding number of pilots will be furloughed as aircraft are removed from the fleet, making way for new managed aircraft,” he added.

 
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