Cessna owners targeted as NetJets subsidiary bids to plug gap caused by shortage of high-quality aircraft
Executive Jet Management (EJM), a subsidiary of fractional leader NetJets, has introduced a charter guarantee programme for qualified aircraft owners. The scheme is aimed initially at owners of Cessna Citation Xs and Excels, and guarantees charter hours and revenue.
"For the right aircraft, particularly Citation Xs and Excels, we can guarantee a defined number of charter hours a year – 100, 200, 300 or more – resulting in substantial revenue for the owner," says EJM president and chief executive Albert Pod. There is strong demand for the Citations, says EJM, which provides back-up for NetJets as well as on-demand charter.
Unusual in the industry, says EJM, the charter guarantee is based primarily on aircraft type, condition and location, lasts from three months to a year and is renewable. In a bid to attract owners, the company has waived the "thousands of dollars" it usually costs to join EJM's Part 135 operator's certificate.
The programme is a response to the shortage of available high-quality aircraft faced by charter operators as the business aviation market recovers. EJM says 25 of its aircraft management clients each generated more than $1 million in charter revenue last year, five of them earning more than $2 million and one more than $3 million.
* Ft Lauderdale Executive airport, Florida-based Hop-A-Jet Worldwide Charter has acquired a pre-owned Bombardier Challenger 601 and a Learjet 60, taking its fleet to 12 aircraft.
GRAHAM WARWICK/WASHINGTON DC
Source: Flight International