The Latin American Business Aviation Conference & Exhibition in São Paulo last month marked the dawn of fractional jet ownership in Brazil, with two companies launching programs.
Flight Options entered into a three-year, $167 million financing agreement with Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) to finance the fractional jet provider’s order for up to 150 Embraer Phenom 300 light jets. In December 2007, Flight Options placed a firm order for 100 Phenom 300s and options on 50 more.
Britain’s Office of Fair Trading (OFT) has said that it will not continue to investigate a complaint made against NetJets Europe because it has insufficient resources to do so.
Flight Options announced yesterday that it entered into a three-year, $167 million financing agreement with Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) to finance the fractional jet provider’s order for up to 150 Embraer Phenom 300 light jets.
Flexjet added two new benefits for its fractional jet owners: a 90-day satisfaction guarantee and an unlimited carry-forward hours program. The satisfaction guarantee allows owners to exit their contract for any reason within the initial three-month period, regardless of contract.
The current pre-owned aircraft market can be defined as consistent as inventory continues to inch down, month-after-month. Many people regard this consistency to be welcome news, considering where the market was a couple of years ago.
Avantair now offers leasing of fractional shares of Piaggio Avanti turboprops. The new Axis lease program allows buyers to lease a share of a fractional Avanti; this is a true lease, not a block-charter program.
Cleveland-based Flight Options said it saw renewed interest in fractional share and jet card (JetPass) sales during the first quarter, noting that net share sales doubled from a year ago while JetPass sales climbed by 46 percent.
Cleveland-based Flight Options today announced 467-percent and 46-percent year-over-year growth in fractional share and jet card (JetPass) sales, respectively, during the first quarter. In addition, fractional utilization in the quarter climbed by 8 percent from a year ago, while JetPass flight revenue hours rose 35 percent.
Revenues at Berkshire Hathaway’s “other services” segment–which includes fractional jet provider NetJets and flight-training company FlightSafety International–climbed by $770 million (up 12 percent year-over-year), to $7.4 billion, according to the company’s 2010 financial results. Pre-tax profits at the division soared to $984 million, versus a $91 million loss in 2009.