Fractional Ownership News
Fractional jet ownership starts new year in fine fettle
The fractional jet sector has witnessed a spate of positive developments in the first weeks of the new year. Firstly Lebanese fractional ownership and charter company ImperialJet has announced plans to more than quadruple its fleet during the next three years to meet demand in its target regions of Africa, the Middle East, Europe and Russia.
The company, which has fractional ownership aviation bases in Lebanon and Germany, has taken of the second of three Bombardier Challenger 605s. and has an order for five Learjet 85s.
ImperialJet consultant Graeme Deary said: "We have a fleet of nine midsize and large cabin aircraft, including Learjet 60XRs, Challenger 604s and 850s. We hope to add another 850 this year. We plan to double our fleet by the end of 2013 and reach in excess of 40 aircraft within three years.”
ImperialJet aims to acquire existing management and service providers, including fixed-base operators (FBOs), within its target regions, particularly Saudi Arabia. "There is potential for an FBO here. This market is booming. By early next year we hope to have received our Saudi aircraft operators certificate, which will open up this market for us," said Deary
The company has recently opened offices to market its fractional ownership jet programmes in Saudi Arabia and Russia.
"It is a good time to go for it," Deary said. "The economic downturn has hit the business aircraft industry hard but there is still a large untapped market and people are looking for a consistent, high-quality level of service. This is where we fit in."
Meanwhile in the US, Flexjet has revaled that in the year to September 2011 sales of its fractional jet shares rose by 92 per cent, with the company’s market share growing from from 14 per cent to 21 per cent. Flexjet has also successfully sold 33 shares in the new Learjet 85 aircraft that was launched in August 2011, with seven additional contracts in progress.
And in Canada, Jet-Share Canada Inc. has added a Cessna Citation model 560 to its fractional ownership fleet, making the company the largest fractional avaiation provider operating out of Toronto.
www.imperial-jet.com
www.flexjet.com
www.jetshare.ca
16/01/12
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