The Latin American Business Aviation Conference & Exhibition in São Paulo last month marked the dawn of fractional jet ownership in Brazil, with two companies launching programs.
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.
As they start to see growing demand, fractional aircraft providers are beginning to recall furloughed pilots to fill cockpit vacancies. Last month, Cleveland-based Flight Options recalled eight furloughed pilots to fill open seats in its Citation X fleet.
As they start to see growing demand, fractional aircraft providers are beginning to recall furloughed pilots to fill cockpit vacancies. Yesterday, Cleveland-based Flight Options announced it is recalling eight furloughed pilots to fill open seats in its Citation X fleet. “We are extremely pleased to be able to announce the recall.
CitationAir has launched Jet Access, a new non-membership program designed to allow private aviation customers use of its Citation XLS and Sovereign fleet without any element of fractional ownership. For a minimum commitment of 50 flight hours a year, the program provides simple pricing, with locked-in rates for 36 months and a flexible fuel component.
Members of the Florida Aviation Trades Association learned recently that the Third District Court (Miami) has issued a ruling that will significantly affect the recourse available to the maintenance industry when faced with a non-paying customer.
Previously, a repair facility could put a lien on the aircraft when it perceived the customer would not pay the bill regardless of who was in possession of the aircraft.
Canadian aircraft management company Air Partners has launched a fractional-share program to capitalize on historically low used aircraft prices. Air Partners is headquartered in Calgary and is a subsidiary of Morgan Air Services, which was founded by WestJet Airlines cofounder Tim Morgan in 1983. In addition to aircraft management, Air Partners offers charter and aircraft maintenance services.
According to the management of Jet Republic, the overriding reason that the company suddenly ceased trading on August 20 was because “the aviation asset finance market has completely dried up, making it much more difficult for potential clients to take out and obtain financing for fractional ownership of jets.”
Fractional aircraft providers have reshaped their marketing efforts to address the difficulty of trying to get customers to buy aircraft shares during a recession. To help stimulate growth, Flexjet has introduced a fly-away lease program, which lets buyers who might not want to make a capital purchase lease a fractional share and exit the lease at any time with 90 days’ notice and with no penalty.
As the recession tightens its grip on the economy, fractional aircraft providers have stepped up their marketing efforts not only to sell more shares but also to encourage shareowners to fly more. “In this tough economy, the pressures on all parts of the aviation business have been extreme,” said Bob Knebel, Flexjet v-p of sales.