Graham Warwick/WASHINGTON DC
US Corporate aircraft management company Wayfarer Aviation is to launch a fractional ownership programme using secondhand Raytheon Beech King Air twin turboprops.
The Wayfarer StarShares scheme is aimed at customers within 1,100km (600nm) of New York, says president Jim Christiansen. The company has three aircraft - two King Air B200s and a C90B, all less than three years old - and launched share sales on 31 March.
A quarter share in the C90B costs $538,000 and provides 200h occupancy a year at an hourly cost of $635. A similar share in the larger B200 costs $800,000 and provides 200h at $695/h. "This is about 25% below the competition," says Christiansen.
Availability will be guaranteed with 8h notice for flights within a 1,100km radius of New York, with 48h warning required for flights beyond that, up to 1,900km. Two King Airs in Wayfarer's charter management portfolio will be available to back up the StarShares fleet, a percentage of which will be company-owned core aircraft.
The company plans to begin operations in mid-April from Bridgeport, Connecticut, and aims to add five more aircraft next year. "There is an underserved market in the New York area for corporate and personal transportation within a 350-700 mile [565-1,130km] radius," Christiansen says. "We have found a niche, and don't intend to compete nationally."
Raytheon Aircraft offers King Air B200 shares as part of its Travel Air fractional ownership programme. The manufacturer has eight King Air B200s and will have five more by the year end.
Christiansen says Wayfarer plans to operate StarShares under Part 135 regulations, as recommended in fractional ownership guidelines drawn up by the US National Business Aviation Association.
Source: Flight International