Executive Jet (EJI) has lowered the cost of entry to its NetJets Europe fractional ownership programme by introducing 1/16th increments. Previously the smallest available share was one eighth.
NetJets Europe, which has bases in London and Lisbon, will initially offer the shares on its growing Hawker 800XP fleet, in which 10 aircraft are now in service and a further two mid-sized aircraft are set for delivery by the end of the year.
Graeme Deary, sales and marketing director for NetJets Europe says: "This means that potential new owners can now afford their own aircraft for half the previous figure". A 1/16th share in an 800XP costs $798,250 and entitles the customer to 37.5h flying hours a year. Owners are also charged a monthly management fee of €7,560 ($6,665) and a levy of €2,435 per occupied flight hour.
NetJets expects the smaller share, already offered for aircraft in the US programme, to draw in "concept buyers" who may eventually purchase larger shares .Deary says: "We want to remove the barrier to owning a business aircraft and capture their imagination".
The Berkshire Hathaway-owned company also plans to offer 1/16th shares for the Dassault Falcon 2000 later next year, once a critical mass of six aircraft or more has been built. The 2000 fleet now totals three aircraft.
NetJets Europe has so far secured around 100 owners, "half on the Hawker 800XP programme". The fleet totals 17 aircraft with 10 more to be delivered by the end of the year.
EJI plans to announce a large aircraft order for its NetJets programmes at next week's National Business Aviation Association convention in New Orleans, Louisiana. The main candidate for the European programme is the Cessna Citation Bravo light business jet as a replacement for the ageing Citation SII. In the USA, the Citation CJ2 and Raytheon's Premier I are likely contenders.
Source: Flight International
