Kate Sarsfield/LONDON
A fractional ownership venture aimed at the European market is scheduled to start in January, operating two Cessna CitationJets.
The announcement follows hot on the heels of Bombardier's recent decision to expand its US-based FlexJet fractional programme to the Continent "by year end."
Executive Jet, the US pioneer of the fractional ownership concept, already shares a thriving European operation with its partners, Air Luxor and Zimex Aviation, which it is in the throes of rapidly expanding.
The Airshare programme, which is owned and operated by Horsham, Sussex-based Ad Astra (UK) is likely to be based at London Biggin Hill Airport, although a final decision has not been made.
"We are going to see a lot of people coming in to aviation over the next few years - the marketplace in Europe is huge," says Ad Astra's managing director, Peter Coyle.
Like existing fractional ownership providers, Ad Astra is hoping to attract customers whose working schedules demand a secure, efficient and "time sensitive" means of travel.
Ad Astra declines to discuss the financial terms of the programme until a later date, saying only that the scheme will mirror existing fractional projects. One-eighth shares only will be offered, which will furnish the owner with around 65h of flying a year.
All customers will be guaranteed an aircraft within 12h of the request, although the company plans to reduce the waiting time to 10h when more aircraft are added to the programme.
Ad Astra is hoping to take delivery of another CitationJet for the core fleet, and a mid-range aircraft by the end of 1999. "We aim to have a fleet of 15 aircraft within five years," says Coyle. Airshare will initially focus on mainland Europe, but expansion to other regions is under consideration.
Source: Flight International
