EXECUTIVE JET International (EJI) has taken delivery of the first of 25 Cessna Citation Ultra business-jets on order for its NetJets fractional-ownership programme. The Montvale, New Jersey-based company will receive 16 Ultras by the end of 1995, and says that it has 85 part owners already signed up.
EJI took delivery of the first of seven Gulfstream IV-SPs on order in late May and will receive four more this year. Four will be company-owned "core" aircraft. EJI has already sold the first shared-ownership aircraft, due for delivery in November, and is selling shares in the second, says senior vice-president Kevin Russell.
A US oil company has bought two-quarter shares in the first aircraft, with a real-estate firm and an entrepreneur new to business aviation taking the rest. Quarter shares in the GIV cost $6.65 million and guarantee 1,000 occupied flight hours over five years.
EJI is already flying the shareholders using its first, core, aircraft, Russell says. The four company-owned GIVs will enable EJI to guarantee owners aircraft availability within 6h. Owners will be able to take a GIV out of the USA, and keep the aircraft with them if they use it for a minimum 3h a day while out of the country, he says.
The company operates 25 Citation S/IIs for 165 owners and 13 Raytheon Aircraft Hawker 1000s for more than 60 customers. EJI will receive its 14th Hawker in August, and is to take delivery of a further three this year.
Source: Flight International
