Milestone Aviation Group (Booth No 7010), a helicopter financing company, made a splash at Heli-Expo this year, announcing a $480 million deal with Eurocopter (Booth No. 1917) for 16 EC225s, a contract with Sikorsky Aircraft (Booth No. 6148) for three S-92s (terms not disclosed), and a $125-135 million leasing agreement with major operator Bristow Group for five large helicopters.
CitationAir has stopped selling fractional shares in new aircraft and ceased renewals for current fractional-share customers, the Cessna Aircraft subsidiary confirmed to AIN yesterday. Effective last week, “CitationAir will be streamlining our offerings to deliver those products in our portfolio that have demonstrated the greatest customer demand,” CitationAir president and CEO William Schultz wrote in an email sent to employees.
Fractional share operator AirSprint Private Aviation has quietly but steadily been building its business in Canada for the past 12 years, and since last June it has been expanding into the Southwest U.S. Calgary-based AirSprint’s Canadian fleet consists of eight Cessna Citation XLSs and 13 Pilatus PC-12s. AirSprint has three PC-12s based in the U.S., at its Scottsdale, Ariz., office, and the company is planning to expand the U.S. fleet as word spreads that there is an alternative to jets or twin turboprops in the Southwest U.S.
The U.S. government claims that NetJets owes the Internal Revenue Service (IRS) nearly $643 million in federal excise taxes, assessed penalties and interest. The amount is just $125 million less than the $768 million in pre-tax earnings that NetJets parent Berkshire Hathaway reported in its last financial report for the “other” category of subsidiaries that includes NetJets, FlightSafety International and other businesses.
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.
In last month’s issue of AIN, in Part 1 of the charter/fractional special report, we covered the current state of the charter and fractional share segments, both in the U.S. and worldwide.
Like most of the general aviation industry, the charter and fractional sectors have reported stable activity during the past year, with pockets of growth and decline although the number of charter hours flown so far this year is higher than the number of fractional hours.
Providing you with the best information available on business jet travel is by far our most important goal here at Business Jet Traveler magazine. As we work our way through meeting after meeting, draft after draft and plan after plan, what motivates us is helping you get the most out of private air transport.
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.
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.