Paul Lewis/WASHINGTON DC
North America's pioneering helicopter fractional ownership companies, Associated Aircraft Group (AAG) and HeliFlite Shares, plan to expand operations despite slower than expected development of the new market sector.
Sikorsky-owned AAG expects to add a second helicopter to its scheme by the middle of the year. The company operates one dedicated fractional Sikorsky S-76B in the New York state area, backed by two helicopters used for charters.
Tommy Tomason, head of Sikorsky civil helicopter programmes, says: "What we're doing is demonstrating that [helicopter] fractional ownership works and we believe the New York area is the place for that. We're taking baby steps and so far it's proceeding about as well as could be expected, but it's not as wonderful as we first thought it would be."
AAG launched the scheme by selling quarter shares in the S-76 in return for 290 flight units a year. Its fractional model has since been refined to smaller, one-eighth, shares to ensure better availability. It has also opened talks with fractional business aircraft operators.
Texas-based HeliFlite, meanwhile which started operating on 23 December, has a cross marketing deal with Raytheon Travel Air.
Mark Ozenick, HeliFlite president and chief executive, says: "We make our clients available to the Raytheon programme and vice versa. If they have a Hawker client that needs a helicopter, we're a great option."
HeliFlite is selling a minimum of one-sixteenth shares in its new Bell 430 for $353,000, plus monthly management fees, in return for 62.5h of use a year. It has dry-leased a second Bell twin-turboshaft for back-up and has nine options.
Operations centre on Texas, Louisiana and parts of Oklahoma. "Our next expansion market will be the north-east USA, but if we see an immediate opportunity based on market research we're doing in other regions of the USA, we'll exercise options and put aircraft in there," says Ozenick.
Source: Flight International
