The fractional ownership market has witnessed unprecedented growth since its introduction 13 years ago, according to data released by US research firm, Aviation Data (AvData).
Since 1986, the fractional fleet and customer base has rocketed by more than 4,500% from seven aircraft and four customers to 329 aircraft and 1,567 customers, says AvData. The fleet has also accumulated more than 776,000 total flight hours and travelled more than 485 million kilometres .
Now VisionAire plans to enter the market following first deliveries of its Vantage single-engine business jet in 2002/3, with its new "partnering programme". It says the scheme "offers the advantages of full aircraft ownership, fractional ownership and chartering without the expense and complication".
Although the programme is only in its conceptual stage and details are sketchy, VisionAire says aircraft will be owned and operated by the company and made available to the customers on a "type of leasing arrangement". It will service an area within a 1,200km (650nm) radius of the strategically located home base. The company says: "The programme still requires considerable additional research, but we are confident that there will be a sizeable market when it is finally launched. One of the major issues we need to research is how many support facilities we could make available domestically an internationally and where they could be located."
Galaxy Aerospace plans to enter the fractional ownership market in the next year, by selling its Galaxy and Astra SPX business jets to an existing programme operator, or by setting up an independent or joint venture partnership.
"It is a market I strongly support, and we are holding discussions with at least one programme provider. In one way or another we will be involved in fractional, either jointly or through one of own making next year," says Brian Barents, the president of Galaxy Aerospace .
Meanwhile, two of the largest fractional providers have revealed sharp rises in fleet size and customer base within the past year and predict a continued upsurge in demand.
Bombardier FlexJet, the second largest programme in the USA and Europe, forecasts a 45% increase in fleet size during this year to 87 aircraft and a 45% increase in customers from 480. FlexJet is to take delivery of the first LearJet 45 by December, and a further 16 next year.
The Global Express and the new Bombardier Continental will be added to the fleet next year and in 2002, respectively, with the first five Continentals going to FlexJet shareholders.
The European FlexJet operation, which began in May, is also to rise from six aircraft this year, to 12 in 2001 and 40 in 2004.
Flight Options, the only programme specialising in used aircraft says it "surpassed all growth predictions for its first year".
"We had hoped to have 12 aircraft by now but instead we have 43 in our fleet," says Flight Options chairman, Kenn Ricci. The Cleveland, Ohio-based company, which recently ordered 25 Fairchild Envoy 7s, forecasts a fleet of around 76 aircraft by the end of next year, including three Gulfstream IVs. Ricci adds: "We are aiming for a 25% share of all new business aircraft coming on to the market and our next step is to expand into Europe."
Source: Flight International
