Charter and Fractional » Fractional

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

March 26, 2013 - 2:35pm

Bombardier Flexjet appointed Ryan McGinn as sales director for the New York City territory, where he will sell fractional jet ownership, jet cards and charter brokerage services to clients in the area. McGinn comes to Flexjet from a 20-year career at Callaway Golf, where he was the top sales director for the past 10 years. He also has previous experience in the aviation industry through his tenure at America West Airlines, where he served as a customer service representative for three years.

March 7, 2013 - 3:00pm

Flexjet appointed Jason Weiss as its new vice president of operations. In his new role, he is responsible for managing the fractional operator’s flight operations, training, technical operations, operations analysis and fleet management, the owner operations center and procurement. Weiss–who replaces David Gross, who is retiring from Flexjet after 13 years–comes from NetJets, where he was the vice president of crew resource planning.

February 21, 2013 - 3:38pm

Fractional share provider Flight Options’ business is growing at a healthy clip, the Cleveland, Ohio-based company announced yesterday. “We’re definitely seeing a significant increase in hours flown and customer utilization,” said Matt Doyle, executive vice president of sales and marketing. “We’re seeing folks are much more comfortable using their hours. On the business side, they’re using their airplanes to meet customers and clients and expand their business. On the personal side more folks are flying.”

February 19, 2013 - 2:50pm

Pilots at Clearwater, Fla.-based fractional provider Avantair voted for organization under the United Transportation Union (UTU) on Thursday. Among the pilots who participated in the election, 80 percent voted in favor of the union. The pilots are now represented under UTU’s transportation division, which represents only one other pilot group–at regional airline Great Lakes Aviation. “We have assured our pilots that negotiations will be made in good faith,” Avantair said.

January 29, 2013 - 4:15pm

Clearwater, Fla.-based Piaggio Avanti fractional operator Avantair says that its flight and maintenance operations have fully recovered from a three-week voluntary standdown that ended in November. Further, it has closed a second round of funding since the grounding and hired a new COO.

January 21, 2013 - 8:00am

Meridian, the last independent aviation services provider at New Jersey’s Teterboro Airport, announced that it will enhance its West Coast operations with the basing one of its charter aircraft at Hayward Executive Airport in California. The company’s air charter division operates 21 managed aircraft across the country, and next month will reposition a nine-passenger WiFi-equipped Cessna Citation XLS to the San Francisco-area airport.

December 10, 2012 - 10:10am

Doha-based Rizon Jet has become a founding member of The Luxury Network Qatar, which brings together a select group of companies and high-end service providers. The Luxury Network Qatar will be launched officially early next year in Rizon Jet’s VIP terminal at Doha.

December 6, 2012 - 6:00pm

Fractional provider Bombardier Flexjet launched Coastal Connect under its Flexjet 25 jet card program, which is operated by U.S. air carrier Jet Solutions. The new feature provides special rates for customers who fly to and from designated zones between the East and West Coasts on Flexjet Challenger 300s. The Flexjet 25 jet card starts at $100,000, with the cost of each flight deducted from the debit card balance, which can be replenished via an automatic or manual recharge option.

December 4, 2012 - 3:35pm

Fractional aircraft provider Flight Options and Sentient Jet announced an agreement under which Sentient Jet will be a retailer of Flight Options’ JetPass 25-hour jet card. Through the agreement, Sentient Jet will market the Flight Options jets-specific JetPass side-by-side with its open-fleet Sentient Jet 25-hour card. Sentient and Flight Options are sister companies since parent company Directional Aviation bought Sentient in May.

December 4, 2012 - 3:25pm

Piaggio Avanti fractional provider Avantair closed on $2.8 million in new funding yesterday via the issuance of senior secured convertible notes. The notes have a three-year term and an interest rate of 2 percent. In addition, the company restructured its existing aircraft financing arrangements with Midsouth Services, reducing its monthly lease payments by more than $1.8 million during the next 15 months and extending the maturities on two aircraft.

 
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