Fractional Jets

August 25, 2009 - 11:03am

Jet Republic, which last year announced a plan to buy up to 110 Bombardier Learjet 60XRs and launch a fractional-share business in Europe, has suspended operations at its Portugal subsidiary. As a consequence, Bombardier “terminated its firm and conditional order purchase agreement with Jet Republic.” The company’s first Learjet 60XR was to have been delivered in October.

August 25, 2009 - 7:08am

Before new fractional company Jet Republic declared insolvency late last month, lawyers for the firm were seeking to lift a legal injunction secured by established provider NetJets Europe that prevented it from hiring NetJets employees. A court in Portugal granted the injunction in July 2008, before Jet Republic was officially launched.

August 25, 2009 - 6:44am

In a major management shake-up at fractional provider NetJets, company founder, chairman and CEO Richard Santulli on August 4 unexpectedly resigned, effective immediately. Credited as the “father of the fractional aircraft industry,” Santulli said he plans to remain with NetJets as a consultant for at least a year.

August 5, 2009 - 10:19am

In a seismic event for the business aviation industry, NetJets founder, chairman and CEO Richard Santulli yesterday resigned his position at the company, effective immediately. Santulli, credited as the “father of the fractional aircraft industry,” said he will remain with NetJets–a Berkshire Hathaway company–as a consultant for at least a year.

July 28, 2009 - 5:50am

Even as other well-established and larger fractional ownership operations are quietly laying off employees and reducing aircraft delivery rates in response to the economic crisis, Avantair is hiring and adding to its fleet of 53 Avanti twin turboprops as quickly as Italian manufacturer Piaggio can deliver them.

May 6, 2009 - 7:03am

New European fractional ownership provider Jet Republic says it is capitalizing on the downturn in both air transport and business aviation. The company, which in September is due to take delivery of the first of up to 110 Bombardier Learjet 60XRs for which it has orders and options, said it is receiving more inquiries than it had anticipated from people who previously owned their own aircraft.

April 30, 2009 - 11:18am

Fractional aircraft providers have reshaped their marketing efforts to address the difficulty of trying to get customers to buy aircraft shares during a recession. To help stimulate growth, Flexjet has introduced a fly-away lease program, which lets buyers who might not want to make a capital purchase lease a fractional share and exit the lease at any time with 90 days’ notice and with no penalty.

March 31, 2009 - 5:45am

Fractional provider NetJets Europe launched the “Summer Card” for Middle Eastern customers who are planning to spend their vacations in Europe this summer. The jet card is valid from May until the end of October and is touted as providing “the flexibility and convenience required by Middle Eastern customers who visit numerous cities around Europe during their annual summer break.” The cards are available in 12.5-hour increments.

February 27, 2009 - 11:04am

Boston-based charter broker Magellan Jets last month launched its Voyager Program, which entitles members to guaranteed hourly rates on various aircraft; a scheduled departure guarantee (or a 10-percent discount on the traveler’s next flight); three aircraft upgrades per year; concierge service; and one-way and round-trip pricing.

January 28, 2009 - 7:39am

To adapt to current economic conditions, Dallas-based fractional provider Bombardier Flexjet last month unveiled two new jet-card products.

 
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