Bombardier Flexjet launched an 11-city tour to showcase the Learjet 85, which will be the next aircraft type addition to its fractional fleet. Besides being able to view the Learjet 85 cabin mockup, attendees will also be able to test drive Rolls-Royce Phantom and Ghost autos and play a World Championship golf course in a Full Swing Golf simulator.
Bombardier Flexjet has confirmed the first firm orders for three of the airframer’s new Learjet 70s. In May, the fractional provider announced plans to become the launch customer for the new light jet and the Learjet 75, both of which are derivatives of the 40-series Learjets.
Flexjet, Bombardier’s U.S.-based fractional ownership operation, has confirmed the first firm orders for three of the airframer’s new Learjet 70 business aircraft. In May, the operator announced plans to become the launch customer for the new light jet and the Learjet 75, both of which are derivatives of the 40-series Learjets.
Fractional-share provider NetJets has ordered up to 425 Bombardier and Cessna jets worth as much as $9.6 billion, with deliveries to begin in 2015. The purchase is the largest general aviation aircraft order in history and includes a firm order for 75 Bombardier Challenger 300s (plus options on another 125), a firm order for 25 Challenger 605s (plus options on 50 more) and and a firm order for 25 Cessna Citation Latitudes (plus options on an additional 125).
Flexjet will be the first fractional provider to offer access to the new Bombardier Learjet 70 and Learjet 75, derivatives of the 40-series Learjets that were announced earlier this week at EBACE. Though a Flexjet spokeswoman said the number of Learjet 70/75s the frax company has on order is not yet determined, deliveries of the new twinjets are still scheduled to begin next year.
Qatar Airways and fractional jet ownership provider Flexjet are to form an alliance to offer the Middle East airline’s passengers a seamless charter service throughout North America.
Flexjet is offering new and existing customers free fuel when they purchase fractional shares from now until April 30. Customers purchasing a one-sixteenth share in a Learjet will receive a credit of 12 hours of free fuel; a similar share in a Challenger earns a 25-hour fuel credit. According to Flexjet, the credit, which includes fuel component adjustments and federal excise taxes, is based on published rates on the day of contract closing and will be applied to the fuel surcharges per hour flown.
Flight Options, the second-largest fractional jet provider in the U.S., said 2011 was one of its best years and expects the momentum to continue to build this year. In fact, the Cleveland-based company reported a healthy jump in new fractional owners last year versus 2010.
“One of the statistics from 2011 of which we are most proud is that more than one-third of all new owners came from referrals–a strong and appreciated endorsement from our current owners,” noted Flight Options CEO Michael Silvestro.
The demands of four new jet aircraft development programs, coupled with anemic sales of its Learjet business jet brand and regional jets, fueled a cash burn pyre that persuaded analysts to issue a fresh round of stock downgrades for Bombardier in September. In the last quarter, the OEM drew down $1 billion of cash reserves against $211 of net income, double for the same period a year ago. Its market capitalization is $7 billion and the cash burn rate set off caution lights for stock analysts. The news is not cataclysmic; most now rate the company as “market perform,” but from early July through the end of September, Bombardier stock lost 43 percent of its value.
Flexjet, Bombardier’s Texas-based fractional ownership operation, launched a Learjet 85 program. President Fred Reid told AIN that his company will take seven aircraft initially, and eventually “a couple of dozen,” with deliveries beginning in the fourth quarter of 2013. He noted that Flexjet’s Learjet 85 prices will be 5 percent below those of the Cessna Sovereign in fractional service.