Fractional Jets

January 2, 2012 - 1:55am
CitationAir CEO William Schultz

When CitationAir founder and CEO Steve O’Neill left the company at the beginning of November, the transition in leadership was expected to be nearly seamless, especially since the man who was promoted to succeed him had been with the fractional provider as long as O’Neill himself.

William (Bill) Schultz, previously the company’s executive vice president, was named to the top position in September, two months before O’Neill’s departure.

October 13, 2011 - 2:38pm

Last month, business aircraft flight activity in the U.S. rolled back slightly from a year ago, decreasing 1.3 percent, according to recently released TraqPak data from aviation services company Argus. Part 91 operations remained in positive territory, with a year-over-year increase of 2 percent, but fractional flying led the pack, climbing by 2.7 percent.

August 29, 2011 - 10:10am

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.

July 30, 2011 - 6:55am

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.

July 28, 2011 - 8:30am

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.

July 14, 2011 - 11:50am

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.

June 29, 2011 - 8:35am

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.

May 28, 2011 - 9:00am

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.

April 27, 2011 - 6:20am

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.

April 14, 2011 - 10:00am

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. Flight Options officials declined to specify the exact number of net fractional shares sold, but did say that first-quarter gross share hour sales grew significantly from 225 hours last year to 1,275 hours this year.

 
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