The first European owned, commercially operated fractional ownership programme is to be launched next month, with the delivery of the first of two used Cessna CitationJet business aircraft.
Initially, Oxford Airport, UK-based Airshare will target the UK domestic market. Airshare managing director Peter Coyle says: "We want to focus on our UK customer base initially, but we plan to expand onto the continent at a later date."
The first six-seat CitationJet is set for May delivery, with the second owned aircraft to be added in June. "Although we recognise that the European market needs to be acquainted with the benefits of using business aircraft, especially fractional ownership, the potential is huge. Our major concern is getting the aircraft quickly enough to keep up with demand," says Coyle.
Airshare has ordered "a number" of new CitationJets, which will enter the programme within 18 months. "We are looking at offering a range of aircraft, from entry level through to super mid-size models. Within five years, we forecast a fleet of 20 aircraft," Coyle adds.
The aircraft will only be offered in one-eighth shares, providing the owner with up to 78h of flight time a year. Customers will be guaranteed an aircraft within 12h. Although financial details of the programme have not been disclosed, Coyle claims that Airshare will "be cheaper" than its Executive Jet-owned NetJets European counterpart.
Source: Flight International
