One year after CitationShares introduced its Vector jet card, the fractional provider has curtailed sales to “not exceed the capacity to fulfill” charter and owner flights. “We have reached the capacity we targeted way earlier than expected,” according to CitationShares president and CEO Steve O’Neill. “We expected a renewal rate of about 35 percent, but about 75 percent of cardholders are renewing.
Business aviation continues to be a bright spot in the FAA’s annual aviation forecast, with top executives of two business jet manufacturers and the leading fractional ownership provider presenting generally upbeat assessments at the agency’s Aviation Forecast Conference in Washington, D.C., in late March.
Bookajet International, the UK executive charter operator that rose from the ashes of bankrupt Chauffair, is now hiring pilots, mechanics, sales and support staff as it seeks to expand its business from a new base at Southampton Airport. Last month the company relocated from Farnborough Airport into the former Signature Aircraft Engineering facility at the south coast of England airport.
Those who operate N-registered business aircraft in Europe know how well off we are in the U.S. Aside from a multitude of flight information regions under the jurisdiction of different countries, Eurocontrol charges and airport restrictions, there is simply a different attitude toward business aviation in Europe compared with the U.S.
Profits soared last year at Warren Buffett’s holding company, Berkshire Hathaway, though not all of the company’s divisions did well. In his annual letter to shareholders released last month, the investment mogul summarized the reduced performance of FlightSafety International and NetJets– the two largest companies in their respective fields of simulator training and fractional ownership.
When business aviation is booming, as it is now, nowhere is it more evident than at FBOs, the place at airports where everybody ends up hanging out, working, planning, preparing, departing and arriving. FBOs are also the place where most people are introduced to non-airline aviation.
While 2003 general aviation shipping and billing numbers are hardly cause for celebration, the CEOs of GA manufacturers are generally upbeat and optimistic that a turnaround has been reached. And even though 2003 was a “challenging year,” it still ranks as the fifth best year for billings in GA’s history.
When the ICAO Assembly meets in Montreal late this month, the International Business Aircraft Council (IBAC) will propose standardization of international regulations governing fractional ownership operations. At present, the U.S.
When the economic bottom slipped from under the business aviation industry in 2001, those in the fractional ownership market were unsure where it would leave them. Recession was a new experience for those in the fractional market, which had come into its own in the mid-1990s, after the recession of the late 1980s and early 1990s.
NetJets Europe is recruiting candidates for a new ab initio pilot training program that it hopes could provide its growing fractional ownership fleet with up to 45 new first officers each year. The part-sponsored program will be run by the UK’s Oxford Aviation Training (OAT), with the first 17-month courses due to start in May.