Kate Sarsfield/LONDON
US operator CommandShare is planning to start its fractional ownership programme early next year, becoming what is believed to be the sole fractional provider of VulcanAir P68s and Socata TBM 700 piston singles in North America.
The Lee High Valley, Pennsylvania-based company is due to take delivery of the first of six P68Cs by the end of this month, while the remaining twin turboprops, including two turbo powered P68TCs, should be handed over by the end of next year.
CommandShare managing director Andrea Angera says: "We were originally planning to start the programme with Commander 115s [piston singles], but demand for the TBM and the P68C/TC has been so strong that we will probably focus on these programmes initially."
Angera is sourcing "at least two" low-hour, pre-owned single engine turboprop TBM 700s to get the programme started.
"Because of VulcanAir's large P68 order book [which includes eight Observers from the Italian air force], its Naples factory is not able to deliver the majority of our aircraft until around next June. Sowe shall lease two aircraft until they arrive."
CommandShare's regional fractional programme will focus initially on the northeast USA, covering North Carolina to Cleveland, Ohio, and the southeast, including Florida and Georgia. Angera adds: "We may also launch a California programme contemporaneously as demand there is increasing.
"Our goal is to offer the scheme nationwide in 2003, when we hope to have a fleet of around 60aircraft." Under the terms of the programme, aircraft are to be sold in one-eighth shares, a P68C share, for example, which will cost $80,000.
Added to this is a $1,100 monthly management fee, which covers all fixed costs, such as hangar, insurance and maintenance. An occupied flight hour charge of $195 is also levied. Each shareholder is entitled to 100h a year, although extra hours can be acquired, and shares are transferable to other CommandShare programmes.
Source: Flight International
