Executive Aircraft Management has launched a fractional-ownership programme centred on Orlando, Florida, as the proliferation of regional schemes continues in the USA.
Initially, Executive Aircraft is offering one-eighth shares in used Raytheon Beech King Air B200 twin-turboprops, but plans to offer shares in used Cessna Citation V business jets by year-end.
The aircraft will be flown by Air Orlando, a Part 135 charter operator based at Orlando's downtown executive airport. Ray Ambrose, president of Air Orlando Sales, says the first King Air has been acquired and negotiations with customers are under way.
A one-eighth share in a King Air costs $325,000 and guarantees the owner 100h a year at an hourly cost of $770. Initial operations will be limited to the south-east USA, but after selling shares in three King Airs, Executive plans to acquire a Citation, allowing operations further afield. The company hopes to operate six aircraft by the end of next year, Ambrose says.
Source: Flight International
