Karen Walker
Gulfstream intends to introduce a fractional ownership scheme to the Middle East next year in a venture with Executive Jet and a group of Middle East investors, it was announced at the show yesterday.
The programme, which allows people to purchase fractional shares from a pool of business jets, will begin with a core fleet of two used Gulfstream IVs that will be delivered in mid to late 1998, then be expanded with a fleet of up to 12 new Gulfstream IV-SPs over the next six years.
Gulfstream has also revealed that the investors intend to add another, smaller business jet to the scheme to provide flexibility for customers who may not always need the large, long-range capabilities of GIV.
Although Gulfstream is not identifying the other aircraft type, the choice comes down to either a Cessna or a Raytheon aircraft - both companies already have business jets in Executive Jet's highly successful NetJets fractional ownership scheme that operates in the US and in Europe.
Industry sources at the show say Raytheon is almost cert-ainly the candidate, pointing to its Hawker 800 XP.
The first G1V-SP will be delivered to the programme early in 1999, says Bill Boisture, Gulfstream's presid-ent and chief operating officer
Other industry chiefs have expressed scepticism over whether fractional ownership can take off in the Middle East.
Bombardier, for instance, has said it has no plans to launch a scheme because the distances would make it too expensive to provide a guaranteed 6h maximum response time.
Source: Flight Daily News
