NetJets Europe (NJE) announced in late August that it has sold its 3,000th “Private Jet Card” since the program was launched in 2002. The company sold half of those cards in the last two years. Prices start at ?131,000 ($182,000) for 25 flight hours in a small-cabin jet such as a Hawker 400XP or a Cessna Citation Bravo. The jet card accounts for 50 percent of NJE’s customers and 23 percent of its traffic, the company said.
Jet Republic late last month launched a major new European fractional ownership, lease and block-charter program and revealed itself as the previously unidentified customer for up to 110 Bombardier Learjet 60XRs. (It has firm orders for 25 of the aircraft.) The deal is valued at up to $1.5 billion. Deliveries will begin in October next year and will run at a rate of about one aircraft per month.
Jet Republic today announced the launch of a major new European fractional ownership, lease and block charter program and revealed itself as the previously unidentified customer for up to 110 Bombardier Learjet 60XRs (25 of which are firm). Deliveries will begin in October next year and will run at a rate of about one aircraft per month.
A substantial majority of fractional aircraft share owners indicated that they are satisfied with their current program. According to the latest Fractional Aircraft Ownership Experience Study, conducted for the fifth year by Aviation Research Group/US of Cincinnati, 92 percent of fractional aircraft customers are satisfied with their current program and program provider.
It became apparent late last year that the management team led by chairman and CEO Kenn Ricci would be unable to raise the investment capital needed to continue fractional provider Flight Options in its then form. John Nahill, Raytheon Co.
What is fractional ownership in Europe? Judging by the way the concept has morphed since it started to appear in the continent during the second half of the 1990s, the answer might well be “whatever sir or madam would like it to be today.”
At first glance, the fractional industry, like the alien menace in a sci-fi thriller, appears to be morphing into a menagerie of hybrids. But in reality these hybrids are essentially sales and marketing programs of existing operations, both fractional and charter.
Three business jet manufacturers on June 20 separately announced fleet orders worth as much as a combined $3.5 billion. Fractional provider NetJets was the biggest shopper, placing a firm order for $1.9 billion worth of Gulfstream G450s and G550s that will “significantly expand” its large-cabin fleet. Under the agreement, NetJets will take delivery of 20 G450s and 20 G550s between 2012 and the end of 2016.
It’s become tradition. No sooner does a manufacturer introduce a new airplane than NetJets follows right behind with an order announcement. This year’s NBAA Convention is no exception. The Woodbridge, N.J.-based fractional jet operator has placed orders and options for 200 of the newest midsize business jets, introduced here by Cessna and Gulfstream, transactions that have a potential value of nearly $2 billion.
Flight Options announced yesterday that it is adding the Cessna Citation X to its current stable of 10 aircraft models, with the first five aircraft becoming available on November 1.