Q: Isn't that expensive and confusing?
A: It depends on who you've got on your side.
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The maker of the Very Light Jet (VLJ), Eclipse Aviation, has filed for Chapter 11 bankruptcy protection on November 25th. The company has run into many troubles in this difficult economic time, including having to lay off almost a third of their workers. On top of that, the company must deal with a pile of lawsuits from unsatisfied customers.
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Sentient Jet Holdings, a leading private aviation company, has partenered with the Trump Organization, the leading entertainment provider when it comes to real estate, casinos, golf clubs, and hotel resorts.
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Bombardier-owned private jet provider Flexjet, which offers aircraft management and fractional ownership, was founded in 1995 in Richardson, Texas. Today, even with the economy in tatters and the air charter business not doing so well, the company has managed to stay afloat.
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Back in 2007, Jetride Inc. operated 27 aircraft and had 140 employees working for them. Since Monday, however, the company’s operations have ceased, their planes are grounded and their operating certificate has been surrendered to the FAA. The Springdale, Arkansas-based air charter service has financial issues to blame.
Following up last week’s partnership with Radius, Virgin Charter announced their partnership with Signature Travel Network (STN) on Thursday. STN is a leading retail travel cooperative that has been around for about 50 years.
As such, Signature travel advisors will have access to multiple quotes for any given trip from hundreds of operators, as well as a 24/7 toll free number through which they can reach specialists trained by Virgin. Virgin Charter will also be creating the first quality rating system for operators with the help of JD Power and Associates.
Magellan Jets has come onto the fractional jet scene with the launching of their Voyager program today. The program sets new standards in the industry by charging less and offering more. In terms of aircraft safety, their fleet is no older than 7 years, and all aircraft are insured, meet rigorous safety standards (ARG/US and WYVERN, anyone?), and on top of that, the company runs background checks on all their pilots.
In terms of price, the membership costs $250,000 and, as the company’s CEO Joshua Hebert says, they charge 15 to 20 percent less per hour than their competitors. In terms of service, the company quotes prices before flights and sticks to them, no extra charges, and among many other perks, they also offer complimentary in-flight catering, free of charge. Looks like competitors in the industry will have to up their game in the coming days!
As the demand for private air charter plummets, it’s growth can be seen in India and in the U.K. now as well. Air Partner, based in London, has reported growth in sales and profits for this fiscal year, which ended July 31st. According to their CEO, David Savile, there’s a decrease in bookings of private jets for business travel but an increase in bookings by wealthy individuals. In fact, the number of private flights chartered through the company by individuals has doubled in the past year. It was also noted that this type of growth in demand is also being experienced in France, Germany and Italy.
Kansas City-based Executive AirShare, one of the largest regional aircraft ownership companies in the U.S., has just upped their order of Embraer Phenom 300 very light jets. They had already doubled their order back in May of 2008, and already has 43 Phenom 100 light jets ordered, with options for another 12. This puts their Phenom 300 order to four aircraft and four options, and marks a huge expansion of the company’s already grandiose fleet mostly comprised of King Airs.
Of course, the people at the Brazil-based Embraer aren’t complaining; they’ve been working away at a backlog of orders that totalled $18.8 billion at the end of 2007. The company has certainly made a name for itself since it’s founding in 1969.
India’s private aviation industry continues to soar, even though this year is the worst for the aviation business. More and more air charter carriers are applying for Non-Scheduled Operator’s Permits, or NSOPs, which are permits that let carriers engage in non-scheduled operations, however without posting fares or timetables.
According to the Directorate General of Civil Aviation (DGCA), so far 30 companies have acquired NSOPs, 11 of those NSOPs having been issued last year. The reasons for this surge in business for the private aviation industry in that country is a huge increase in the millionaire population (22.6% last year), most of which are entrepreneurs who often make arrangements for last-minute travel to less-travelled destinations. Thus, there is a growth in demand for this service, and the demand comes from people who can afford said service.
I rest my case.
A new private aviation company in Europe has recently ordered 60 LearJet XR aircraft. Jet Republic, headquartered in Lisbon, is making this 1.5 billion pound purchase in the hopes of flying to 1,000 airports throughout Europe while being 100% carbon neutral. The news comes as a challenge to NetJets, notable for creating the first fractional aircraft ownership program.
Jet Republic will have two programmes for members to choose from: the Private Jet Card, which grants members flight time for a certain minimum purchase with no other commitments, and Share Ownership, which consists of purchasing or leasing a share of a Learjet 60 XR depending on how many flight hours you want (minimum of 50 hours per year).
