The NBAA-BACE show opened with a bang on 14 October when a new fractional aircraft ownership firm burst onto the scene, disclosing itself as behind a 50-strong order for Bombardier Challenger 3500s and Global 6500s.
Bombardier revealed that deal in June but had not named the customer, which is now confirmed to be Fort Lauderdale-based Bond.
The firm is founded by Bill Papariella, who also founded US charter and aircraft management firm Jet Edge. He had taken a break from the business but is now back with a bold new venture. Bond aims to get off the ground in 2027.
Bond came together after a meeting several months ago between Papariella and Bombardier executives, including head of sales Jean-Christophe Gallagher.
“When I see something great I typically will pounce on it,” says Papariella, who describes his firm as “fractional 2.0” provider. “I think we likely pulled off the fastest deal in the history of aviation. This is truly a dream come true.”
Bond will stand out by being the only fractional provider catering exclusively to the most premium business aviation customers, and only operating a fleet entirely composed of super-midsize and large-cabin jets, he adds. Light and midsize jets now account for some three-quarters of fractional flights, Papariella notes, saying he is “extremely bullish” about the large-cabin sector.
“We created Bond to deliver on the promise of what private aviation always was meant to be — personalised, predictable and with exceptional levels of service,” says Papariella. “We are not building for scale. We are building for the select few who expect service perfection every time they fly.”
Bond plans to limit to 10 the number of fractional owners per aircraft, “the lowest in the industry”. It also will limit its jets to use only by fractional owners.
Although Bond is entering a booming sector of the business aviation market – fractional providers have recently ordered hundreds of jets, becoming one of industry’s primary drivers – it faces tough competition, including from industry heavyweights like Flexjet and NetJets.
“In a market where demand for private flying is at record highs and fractional ownership is outpacing every other category of business aviation, Bond introduces a model built for premium private flyers,” it says.
Its 50-strong Bombardier order and services agreement is worth $1.7 billion. Bond holds options for another 70 Bombardier jets, for a total possible value of $4.0 billion.
Bond and Bombardier have struck a “one of its kind” service agreement that will see the operator’s jets maintained by the airframer. The Montreal manufacturer will also have resources at its maintenance centres dedicated to Bond’s aircraft.
In addition, Bond says it has secured $320 million in financing led by investment firm KKR and including other unnamed private founding partners.
