Fractional share provider Bombardier Flexjet is celebrating its 15th year in operation. “Over the past 15 years,” said Flexjet president Fred Reid, “the company has progressed immensely.” Last year, he said, “We did lose some money, a small fraction of what our competitors lost.
Boca Aircraft Maintenance (BAM) celebrated its first anniversary in June. The FAA Part 145 repair station is also EASA certified and has Eclipse authorization for work and parts distribution in the southeast.
Bombardier Flexjet and Korean Air formed a marketing alliance dubbed Flexjet Connect. As part of the partnership, Flexjet fractional owners will receive incentives to purchase first-class tickets on Korean Air when traveling between the Americas and East Asia and other benefits, including elite status for one year. Korean Air passengers participating in the program have guaranteed access to more than 5,000 U.S.
European charter operator VistaJet reports that revenues grew by 20 percent last year and that the company has expanded its fleet of Bombardier jets to 26 from 19 and will take delivery of a total of five jets this year. “There was a huge sea-change as of about mid-February,” said VistaJet founder and chairman Thomas Flohr, “after January had been slightly up.
Bombardier Flexjet and Korean Airlines formed a marketing alliance that allows fractional owners from the former company who use the international airline for overseas travel to have access to premium services. Additionally, the newly created Flexjet Connect allows Korean Air passengers to secure private jet travel throughout the U.S. on Flexjet’s all-Bombardier aircraft fleet.
If it is true that an event becomes history when it is no longer referred to in the present tense, then the Great Recession still has some receding to do, despite recent suggestions by industry analysts that we are now in the market trough and the only direction is up.
Data on the U.S. fractional share industry show that last year was extremely challenging for the big four fractional operators–NetJets, Flexjet, Flight Options and CitationAir–and for smaller but healthier Avantair.
Executive charter group VistaJet is joining forces with fractional provider Bombardier Flexjet to provide seamless access to each company’s respective service area. VistaJet’s fleet of Bombardier Learjets, Challengers and Global Expresses operates largely in Europe, the Middle East and Asia.
The sudden collapse in August of fractional ownership startup Jet Republic probably convinced anyone in Europe who still failed to accept that business aviation’s bubble had burst.
Bombardier today reported $4.6 billion in revenues for its fiscal third quarter (ending October 31), which is on par with year-ago earnings. However, third-quarter revenues at Bombardier Aerospace fell from $2.3 billion last year to $2.1 billion this year due to fewer aircraft deliveries, namely a 42-percent drop in business jet shipments. During the quarter, Bombardier delivered 33 business jets versus 57 last year.