Raytheon Aircraft says that its Travel Air fractional-ownership programme is growing faster than was expected when the scheme was launched in June. The programme will involve 11 aircraft by the end of 1997, two more than originally projected, and subsidiary Raytheon Travel Air plans to add 16 aircraft in 1998.
The fleet will consist of three King Air B200s, five Beechjet 400As and three Hawker 800XPs by the end of 1998. "We have sold multiple shares in each of the aircraft," says Travel Air president Gary Hart.
The company reports "a high level of interest" in the King Air twin-turboprop, which offers the lowest cost of entry into a fractional-ownership programme.
Raytheon will add King Airs to the programme in January 1998, and plans to base at least three at each of five regional US centres - Atlanta, Chicago, Dallas, New York and Van Nuys - from which they will service customers within a 250km (135nm) radius. The company is also looking at how to service secondary markets, having sold shares to customers in several smaller US cities.
Initially, about 40% of the Travel Fleet will be company-owned "core" aircraft, required to provide the availability guaranteed to share owners. The company intends to drive this proportion to 20% as the fleet expands. Raytheon's five-year goal is to increase the Travel Air fleet to 106 shared-ownership and 22 core aircraft.
Delivery of Raytheon's new Premier I and Hawker Horizon business jets to Travel Air will begin in 2001 and 2003, respectively. The company will begin selling shares in these aircraft in 1998, offering customers shares in the King Air and Hawker 800XP initially, with a guaranteed trade-up to the Premier and Horizon.
Source: Flight International
