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.
Charter and Fractional » Fractional
News and issues concerning the fractional-ownership industry and markets, including company announcements, regulations, new developments and labor issues.
Last month the Flight Options pilots overwhelmingly voted for union representation under International Brotherhood of Teamsters (IBT) Local 1108. According to the National Mediation Board, which conducted the election, 67 percent of the 795 eligible line pilots at the fractional provider were in favor of the union. Local 1108 also represents the pilots at competing fractional provider NetJets.
Several executive changes at Flight Options have followed in the wake of Raytheon’s full acquisition of the Cleveland-based fractional provider in late December. Chief marketing officer Cameron Gowan is out, and company leader Michael Scheeringa is solidly in.
While its larger competitor NetJets saw profits vanish last year, fractional ownership operator Flexjet is reporting “our best year yet in terms of revenue and profitability.”
When Berkshire Hathaway chairman Warren Buffett speaks, everyone listens. As usual, he spoke aplenty in his latest annual letter to shareholders, which was released early last month.
FractionAir is eliminating its Beech Diamond and Beechjet regional fractional programs to focus on its Hawker fractional jet management program. The Nashville-based company did not say why it took this action, nor did it answer queries seeking comment.
Flight Options recently became the first fractional provider approved by the FAA to participate in the Aviation Safety Action Program (ASAP). The program, already widely in use by the airlines, is meant to enhance aviation safety through crews’ voluntarily reporting of “critical safety information.”
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.
Under the fractional aircraft ownership provider’s recently introduced PennVet VIP program, owners traveling with pets in the U.S. get 24/7 emergency veterinary advice and referrals. A dedicated phone number provides direct access to the Matthew J. Ryan Veterinary Hospital of the University of Pennsylvania.
JetPass Ultimate is a new jet card program from Cleveland-based Flight Options. The fractional operator said a deposit of $100,000 allows customers to select the specific aircraft needed–light, midsize or large–from the company’s fleet. Fuel surcharges are included. Any balance is “fully refundable” and the program allows trips to Cabo San Lucas, Bermuda, Mexico and most of the Caribbean without ferry fees.