Australian aircraft syndication programme Astra Jetshare claims to be close to ordering Boeing and Gulfstream business jets after securing members throughout the country for its new aircraft syndication scheme.
The initiative is similar to fractional ownership, with aircraft timeshared among a number of users, but it meets the taxation and financial requirements of the Australian market, where traditional fractional ownership has failed to take off.
The programme, launched last June by Australian Jet Management, has been well received by the business community, says Glen Conrad, chief executive. One syndicate group in Queensland is close to completion, which would allow a Gulfstream G200 order to proceed, he says. Three members are signed, with another two close. A minimum of four members, or up to six, is required, he says. The company will secure aircraft once it has guarantees of hours to be purchased.
Elsewhere in the country, two Melbourne-based members are signed for use of a Boeing Business Jet; two in Sydney are interested in a G500, one in Melbourne in a G350 and a further eight around the country are signed up or interested in hours on a G200. Conrad says there are also companies wanting hours in a Beechjet 400A and a Beechcraft King Air B200. Most members are large companies, he adds.
Astra Jetshare is in the final stage of securing Sydney-based finance group Allco as a partner. Allco, which would provide finance for the aircraft, will add significant credibility to the operation, concedes Conrad.
Meanwhile, Australian Jet Management is working with Australian government trade body Austrade on launching a similar scheme in Japan.
Source: Flight International
