European air taxi GlobeAir is hoping to almost double its Cessna Citation Mustang fleet in the next two years and increase its share of the entry-level business aircraft charter market to more than 50%.

The Horsching, Austria-based firm was set up four years ago with two Mustangs. In the next few days, it will take delivery of its eleventh aircraft. Four of the entry-level types have been purchased from new, while the remainder of the fleet was acquired second hand. "We have options with Cessna for more aircraft, but they cannot offer these types for the same price that we can get them on the open market," says GlobeAir chief executive Bernhard Fragner.

The operator has a 30% share of the entry-level charter market, Fragner says, but "adding additional aircraft is fundamental for the success of our long-term strategy". This includes placing an aircraft in Moscow to take advantage of the bustling local charter market there.

Source: Flight Daily News