Reports of the death of fractional ownership have been greatly exaggerated, and buying a jet share remains the most cost-effective and flexible way for regular business aviation users to travel.
That is the claim of Graeme Deary, the new executive director for business development at NetJets Middle East, who insists the fractional model remains extremely strong in the region.
"We have had a very strong year and we are expanding," he says. "Despite all you have read [NetJets in the USA has been laying off pilots], it is far from the end of fractionals. There is a far greater opportunity than with charter."
In fact, Deary believes the fractional ownership could work in Asia and particularly in China once regulatory obstacles have been overcome. "NetJets has certainly been looking at China," he says.
As in the Middle East, where NetJets effectively licenses its brand and operating system to Saudi Arabian firm National Air Services, any move would have to be in partnership with a local business.
NetJets Middle East has introduced incentives to entice more owners into its scheme. It has rolled out a 25h card - the equivalent of a 32nd share in an aircraft. Until now, the smallest share it offered was one-sixteenth (or 50h).
It is also offering customers the chance to lease, or lease purchase, shares of NetJets Middle East-owned aircraft over one to five years. "We recognised what has happened in the marketplace, and have responded," says Deary.
Source: Flight Daily News
