Charter and Fractional » Fractional

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

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.

March 26, 2012 - 11:00am

After years of looking to enter the Chinese private aviation market, NetJets finally confirmed plans for a new joint venture in the People’s Republic of China today at the Asian Business Aviation Conference & Exhibition (Abace) in Shanghai. Though NetJets is known as the company that pioneered the sale of aircraft fractional shares in the U.S. and Europe, its services in China “will begin only with managing and chartering aircraft that are wholly owned by customers” rather than fractional ownership.

March 26, 2012 - 10:58am

Cessna Aircraft and the Aviation Industry Corp. of China (Avic) signed “two strategic agreements to jointly develop general and business aviation in the People’s Republic of China” on Friday. Together these agreements “pave the way for a range of business jets, utility single-engine turboprops and single-engine piston aircraft to be manufactured and certified in China,” Cessna said. “The details of our agreements are still under discussion,” a Cessna spokeswoman told AIN, “but aircraft to be produced in Chengdu and sold in China include the Sovereign and Latitude.”

March 26, 2012 - 6:00am

China Business Aviation Group (CBAG), a Beijing-based business aircraft solutions provider, has signed a contract with Beijing Stem Cell Technologies (BSCT) authorizing CBAG to negotiate the purchase of three aircraft for the medical company. The company plans to purchase a long-range business jet, an ACJ/BBJ-type bizliner and a short-haul transport-category aircraft for regional and domestic use. One aircraft per year will be delivered beginning this year. BSCT currently owns two aircraft, but needs more to support the company’s growth.

March 20, 2012 - 3:58pm

NetJets has attained Level III of the FAA’s safety management system (SMS) pilot program. As such, NetJets is the first fractional operator, as well as the first fixed-wing Part 135 operator and the first combined Part 135/91K operator, to achieve Level III. The FAA SMS pilot program, which has a four-level system of acknowledgement, is intended to help operators develop and implement a comprehensive SMS for their entire organization through safety-centric policies and risk mitigation.

March 20, 2012 - 3:50pm

Atlanta-based Ascension Air is now offering three fully equipped 2012 Cirrus SR22Ts to individuals and pilots through its fractional ownership program. The company’s fractional ownership program requires about $10,000 down and a monthly management fee of $2,000. Ascension’s new SR22Ts include 60/40 FlexSeating in the back seat, which includes a third over-the-shoulder seat belt allowing for a fifth passenger and 60/40 fold-down seating.

March 15, 2012 - 4:10pm

After almost a decade of controversy, four years since the first complaint was filed and several postponements of the actual trial, the Bobigny Criminal Court (a French court near Paris Le Bourget Airport) decided on Tuesday to acquit NetJets Management Ltd and NetJets Transportes Aéreos (two companies trading as NetJets Europe) in a case where they were accused of employment practices contrary to French law. All civil plaintiffs’ claims were rejected.

March 1, 2012 - 2:35pm

As CitationAir transitions from selling fractional shares to focusing on its Jet Card and Jet Management products, the company plans to “begin reducing its aircraft fleet as Jet Share contracts expire,” according to a statement that AIN obtained yesterday from company president and CEO William Schultz. “A corresponding number of pilots will be furloughed as aircraft are removed from the fleet, making way for new managed aircraft,” he added.

 
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