Julian Moxon/GENEVA
BUSINESS-AVIATION service provider Jet Aviation has launched its own version of a corporate-jet shared-ownership scheme, aiming to get around some of the problems which have plagued others attempting to enter the field in Europe.
The Netherlands-registered Corpavia Club provides members with a part share in a Beechjet 400A for an entry fee of $225,000, covering five years, plus an annual membership fee of the same amount, payable quarterly. Each flying hour is charged at $1,650 for the first 150h, increasing to $2,475 thereafter. Jet Aviation has placed orders for an initial two Beech 400As, with options on a further ten.
The membership idea is "similar to joining a golf club", says Jet Aviation vice-president and general manager Theo Staub. "It is a highly exclusive corporate-aviation club. You get access to a brand-new corporate aircraft, with none of the up-front burdens of ownership."
The aircraft are registered privately (the first two in Switzerland), which Staub claims solves the problem of cabotage, which prevents aircraft registered commercially in one country from operating between two or more others (cabotage in Europe ends in April 1997).
Staub says that the scheme best suits operators requiring around 150h of business-aircraft use annually. "There is nothing similar in Europe or the USA," he adds. "We're trying to find a niche between those who use air taxis and those who own their aircraft."
He quotes a total hourly charge of $3,206 for a Corpavia club member using the aircraft for 150h a year, against a typical hourly fee of $3,350 for aircraft charter and $6,615 for ownership. The latter reduces to $3,385 at 400h a year, however, while charter fees come down to around $3,000. Staub puts the US hourly flying rate for US-based NetJets at $3,197, but says: "You can add 30% to that when they begin operating in Europe." Netjets Europe plans to open for business in May 1996.
A maximum of six club members, can sign for each aircraft. Staub says, that the first two Beech 400As, will be based in Geneva.
Source: Flight International
