A regional fractional-ownership scheme based in the south-east USA has begun operations with a single pre-owned Raytheon Beech King Air B200 twin-turboprop. AeroShares Southeast offers service to airports within a 1,100km (600nm) radius of its base in St Augustine, Florida.

A one-eighth share in a pre-owned King Air costs around $250,000 and provides 75h flying per year at $750/h, plus a $3,950 monthly management fee. Owners sign a five-year agreement. Initially AeroShares is also offering six-month, 1/16th-share agreements "to let customers try it", says Randy Shuette, business development manager. The acquisition cost is refunded if they opt out, he adds.

AeroShares has begun operations after securing its first three share owners, says Shuette. The programme is based around operating three pre-owned B200s, but the number of aircraft and the rate at which they are added will depend on market demand.

Target customers are businesses needing travel between cities in the south-east USA, where commercial airline travel via major hubs is increasingly inconvenient, Shuette says. AeroShares believes it is the first regional fractional to serve the area, although Aero Sport, its management agent, handles Avantair, CitationShares, Flexjet and NetJets aircraft at its St Johns County airport fixed-based operation in St Augustine.

Source: Flight International