Fractional operator Flight Options expanded its 75/25 program to include the Citation X and Embraer Legacy, in addition to the Hawker 400XP and 800XP. With the purchase of a single share, owners get 75 percent of occupied hours in one aircraft and the remaining 25 percent in another aircraft of their choice.
Gulfstream Aerospace president Bryan Moss has announced plans for a $300 million, seven-year expansion of the company’s manufacturing and service facilities in Savannah, Ga. The facility’s square footage will increase approximately 70 percent by 2012, resulting in an increase of about 1,100 jobs, a 25-percent jump from the current employment level of 4,300 people.
NetJets Europe will hire more than 100 pilots this year–the largest intake of aircrew since the fractional ownership program started in 1996. It is looking for applicants with a minimum of 1,500 hours total flying time, 500 hours multi-engine time, a valid European Union passport and a full European air transport pilots license.
Fractional provider NetJets recently awarded a trophy to Raytheon Aircraft’s Little Rock facility for outstanding performance. The facility services and performs scheduled maintenance on NetJets’ domestic fleet of 69 Hawker 400XPs, Hawker 800XPs and Hawker 1000s. NetJets created the award to recognize its partners and suppliers for their role in supporting the NetJets fleet.
If Berkshire Hathaway’s first-quarter results are any indication, its NetJets subsidiary will record a profit this year, compared with the $80 million in losses the fractional aircraft provider recorded last year. The investment company’s flight-services division, composed of NetJets and FlightSafety International, had $919 million in revenues in the first quarter–a $152 million or 20-percent increase over the same period last year.
Twenty years after its birth, the fractional concept is finally a mainstream part of the business aviation industry. It didn’t start out that way, and one need only look at the current chorus of very light jet air-limo naysayers to get an idea of how the business aviation community reacted to fractional aircraft ownership in 1986.
What’s old is new again. We’ve heard it so often, it must be true, and those who believe it will not be surprised to see refurbished Hawker 1000s rolling out of the shops at Duncan Aviation and Elliott Aviation.
Ten years since it first offered fractional ownership outside the U.S., NetJets Europe (NJE) has reported the passing of two milestones in recent months. In March it signed its 1,000th customer and in June took delivery of its 100th aircraft.
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