Karen Walker
Raytheon Travel Air, a fractional ownership company, has added a new twist to its business - a leasing option.
Travel Air, a Raytheon Aircraft company, will offer customers the lease option through Fleet Capital Leasing's corporate aircraft finance division. The five-year lease requires no down payment and monthly payments are fixed. At the end of five years, customers can walk away with no further obligations, in the same way that car leases work.
"Our fractional ownership programme has exceeded expectations, so we look forward to growing our company and providing the best options available to aircraft shareowners," says Travel Air president Gary Hart.
Travel Air's fleet includes Hawker 800XPs, Beechjet 400As and King Air B200s. Premier Is have also been ordered and there are plans for the Hawker Horizon also to be added in a few years.
Customers purchase a fractional share in an aircraft, making business jets affordable to a much wider audience as well as offering shareowners greater flexibility.
A one-eighth share lease for a King Air will cost $7,250 per month, says Travel Air, while the same share lease for a Hawker 800XP will cost $18,750.
Source: Flight Daily News