It is AIN’s normal approach to report the news without comment.
Sentient, a leading provider of business aircraft transportation through membership block charter, was purchased last month from CSFB Private Equity by TH Lee Putnam Ventures, a New York-based private equity firm. Sentient claims more than 1,400 aircraft available from among its approved charter aircraft providers. Participants in its Private Jet Membership purchase TravelCards valued at $100,000, $250,000 and $500,000, respectively.
Guggenheim Partners and UBS have formed Guggenheim Aero Finance, a corporate jet financing company that will combine worldwide reach with a streamlined approval process to offer aircraft financing solutions to individual and corporate buyers of new and pre-owned corporate jets.
While the fractional market continues to expand, shareholder growth is advancing at a slower rate, according to data from the Union Bank of Switzerland (UBS).
Andre Dosé resigned his post as CEO of Swiss International Airlines last month amid a continuing investigation into the Nov. 21, 2001 crash of a Crossair Avro RJ100 near Basseldorf, Switzerland. Swiss chairman Pieter Bouw has replaced Dosé as CEO.
Asia and the Middle East are widely regarded as the world’s next big markets for business aircraft. After years of unfulfilled expectations, both regions are achieving impressive growth in terms of locally based fleets and overall flying activity.
Unlike physics, economic forecasting is not an exact science, and significant natural disasters have a way of scattering the tea leaves. Nevertheless, it might be worthwhile to see what two experts are saying.
Last month nearly 30 business aircraft operators based at Westchester County Airport (HPN) received “Spirit of Noise Abatement Awards” for achieving 100-percent compliance with the voluntary night-flying restraint and high-range noise event programs in 2004. Operators achieving the lowest average sound level were US Cable, flying a Challenger 601, and JPMorgan Chase, flying a GIV and a Challenger 604.
U.S. fractional providers appear to be poised for growth. NetJets recently said it plans to hire 450 pilots this year, and New York-based analyst UBS Investment Research predicts the company will take delivery of 76 business jets by year-end. Bombardier Flexjet plans to hire 135 pilots this year, and a source close to the company said the operator will take delivery of 20 Learjets and Challengers during the same period.
Nav Canada is reducing user fees–or service charges–by 2 percent beginning next month. Nav Canada’s charter requires that the organization’s revenue essentially balance its operating costs, except under special circumstances.
- Page 11