Charter and Fractional » Fractional

News and issues concerning the fractional-ownership industry and markets, including company announcements, regulations, new developments and labor issues.

May 17, 2012 - 1:51pm

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.

May 17, 2012 - 1:43pm

Fractional-share provider Avantair’s revenues grew by 9.9 percent, to $40.1 million, in its Fiscal Year 2012 third quarter, compared with the same period last year. Revenue-generating flight hours climbed 6.1 percent, to 11,327. Net loss attributable to shareholders was $1.1 million, down from $1.3 million during the same quarter last year. Non-Gaap adjusted Ebidta grew 81 percent to $1.7 million, up from $940,000.

May 15, 2012 - 1:30pm

NetJets Europe announced this week at EBACE that it is diversifying into aircraft management services. According to NJE sales director Marine Eugene, NetJets Aircraft Management has been established as a separate operation and will soon have its own air operator’s certificate. It will focus on large-cabin and long-range business jets, from the size of the Dassault Falcon 2000 upwards.

May 14, 2012 - 1:30pm

Qatar Airways and fractional jet ownership provider Flexjet announced plans today at EBACE to form an alliance that will offer the Middle East airline’s passengers a seamless charter service throughout North America. The agreement also provides Flexjet fractional ownership customers with access to Qatar Airways flights in North America and to the all-Bombardier fleet operated by the airline’s private aviation arm, Qatar Executive.

April 12, 2012 - 3:42pm

Clearwater, Fla.-based Avantair announced on Tuesday that its entire fleet of fractional Piaggio Avantis will soon feature airborne high-speed Internet. The company is now installing Aircell ATG 5000 communications systems in its twin-turboprop fleet and expects to complete the work this summer. The ATG 5000 covers the continental U.S. above 10,000 feet and portions of Alaska, providing broadband connection via a nationwide network of ground stations.

April 3, 2012 - 3:45pm

The IRS has countersued NetJets for more than $360 million in alleged uncollected excise taxes. In November, NetJets sued the federal government for what it said were wrongfully imposed taxes, interest and penalties totaling more than $642.7 million. NetJets claimed that as a manager of private aircraft, it was not required to pay a “ticket tax” because its services were not taxable transportation.

April 3, 2012 - 3:35pm

NetJets Europe announced today that it is extending its ferry waiver zone, in which fees on positioning flights are not charged, for flights between 21 “business critical” airports in the Middle East and Europe. The extension will add Jordan, Saudi Arabia, Bahrain, Qatar, the UAE and Kuwait to the waiver, which previously included Lebanon and Tel Aviv. The company said it has witnessed “strong growth” in flights to the Middle East in the last few years, with 9.2 percent growth reported last year alone.

March 29, 2012 - 1:20pm

Associated Aircraft Group (AAG), a Sikorsky Aircraft subsidiary specializing in S-76 operations on the East Coast, has marked “40,000 hours of safe flying” in 17 years. AAG president Scott Ashton emphasized that his company has implemented a safety management system “that encompasses a comprehensive culture of risk management and safety promotion and policies.”

AAG lays claim to being the only executive helicopter company to own and operate an FAA Part 145 maintenance facility.

March 27, 2012 - 3:20pm

Today at Abace, Shanghai Hawker Pacific Business Aviation Service Centre at Hongqiao International Airport was confirmed as Dassault’s new Falcon service center in China. The operation should be up and running by the end of June, Dassault said. The contract was signed on the show floor by Frank Youngkin, Dassault Falcon’s senior vice president for customer service; Carey Matthews, general manager of the Shanghai Hawker Pacific Business Aviation Service Centre; and SHPBAS deputy general manager George Lu.

March 26, 2012 - 1:00pm
NetJets China

The world leader in fractional ownership is coming to China, but fractional shares won’t be on its service menu here–at least for the time being. After years of looking to enter the Chinese private aviation market, here at the ABACE show yesterday NetJets finally confirmed plans for a new joint venture in the People’s Republic of China.

 
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