Graham Warwick/ATLANTA
JET AVIATION is backing a new business-jet timeshare scheme, the Corpavia Club, launched by a group of investors from Europe and the Middle East. The scheme will start with two Learjet 31As, on order for delivery in September and October, which will be based with, and operated by, Jet Aviation in Geneva, Switzerland.
The Corpavia Club differs from fractional-ownership programmes in that members do not become part-owners of the aircraft, and pay only for flight hours used. Each aircraft will be shared by six members.
They will pay a one-time entrance fee of $225,000 and an annual membership fee of $225,000. This guarantees up to 150 flight hours a year at a "competitive" hourly rate, with an option for an additional 50h at a slightly higher rate.
Membership guarantees use of one of the two identically equipped seven-passenger Learjet 31As within 6h notice. If an aircraft is not available, or a larger business-jet is required, Jet Aviation will provide a replacement from its charter fleet. The company manages a fleet of 130 aircraft, among them business-jets operated by the Corpavia investors.
Jet Aviation says that the scheme is tailored to Europe, where fractional ownership is problematic. Memberships require less capital investment and offer liquidity and tax advantages, the company says.
The Club plans to add further light, medium and large business-jets and to base aircraft at Jet Aviation locations in Zurich and elsewhere in Europe and the Middle and Far East.
Source: Flight International
