Charter and Fractional » Fractional

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

August 14, 2012 - 3:35pm

NetJets officially opened its new dedicated passenger terminal at Van Nuys (Calif.) Airport on Thursday. Built on a Maguire Aviation leasehold in partnership with Maguire, the new 10,000-sq-ft facility is located on the east side of the airport, near the center and adjacent to Western Jet Aviation. Stevie’s Catering occupies 1,000 sq ft in the NetJets facility.

August 9, 2012 - 3:05pm

NetJets parent Berkshire Hathaway reported yesterday that its other businesses, which includes NetJets, grew 2012 revenues to $2.152 billion in the second quarter and $4.199 billion in the first six months, up 3 and 4 percent, respectively. Earnings in 2012 reflected increased earnings at NetJets and earnings from the Omaha World-Herald.

August 2, 2012 - 4:50pm

NetJets introduced its Supplemental Lift Assurance program yesterday to address the short-notice needs of aircraft owners that cannot be met with their owned aircraft. The obstacle might be a technical problem, an existing trip commitment or a size or range inadequacy of the owned aircraft for the mission at hand.

July 17, 2012 - 3:00pm

ECA Program of Amsterdam has launched a VIP A319/320 fractional program. Each aircraft will be outfitted for 19 passengers. The company’s fleet will consist of three A319s and four A320s, the latter to be used for regional flights of less than eight hours and the former for intercontinental flights. The service will be operated by a new entity, operating under Dutch AOC and regulations, and the full fleet is expected to be operational by 2015.

July 10, 2012 - 2:42pm

Bombardier Flexjet has confirmed the first firm orders for three of the airframer’s new Learjet 70s. In May, the fractional provider announced plans to become the launch customer for the new light jet and the Learjet 75, both of which are derivatives of the 40-series Learjets.

July 1, 2012 - 2:35am

Fractional-share provider NetJets has ordered up to 425 Bombardier and Cessna jets worth as much as $9.6 billion, with deliveries to begin in 2015. The purchase is the largest general aviation aircraft order in history and includes a firm order for 75 Bombardier Challenger 300s (plus options on another 125), a firm order for 25 Challenger 605s (plus options on 50 more) and and a firm order for 25 Cessna Citation Latitudes (plus options on an additional 125).

June 26, 2012 - 2:20pm

Cessna Aircraft has appointed Bill Schultz, the current president of subsidiary CitationAir, as its new senior vice president of business development for China, effective July 1.

June 19, 2012 - 3:48pm

NetJets signed a 15-year OnPoint solution agreement with GE Aviation for the maintenance, repair and overhaul of its upcoming CF34-powered Bombardier Challenger 605 fleet, which was part of the fractional provider’s $9.6 billion aircraft order announced last week. NetJets placed a firm order for 25 Challenger 605s with options for up to 50 more, in addition to orders for other business jets.

June 7, 2012 - 5:05pm

Cleveland, Ohio-based Flight Options received its sixth consecutive Argus Platinum safety rating. The rating is the result of independent evaluations and a multi-day on-site audit that assesses candidates against industry best practices. Flight Options became the first fractional provider to receive the Platinum rating in 2002, and this year it is one of only two fractional providers to receive the rating. Out of the 2,159 Part 135 operators in the U.S., less than 5 percent currently hold the Argus Platinum rating.

June 5, 2012 - 4:22pm

Bombardier Flexjet is taking its rebranding efforts to the next step with the addition of Christopher Bero as the company’s new director of marketing. He joins Flexjet with more than 15 years of experience in brand marketing and communications. Most recently, Bero was responsible for managing strategic marketing activities and media initiatives at Samsung Mobile Electronics.

 
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