EXECUTIVE JET International (EJI) has ordered an additional nine Gulfstream IV-SP business jets and its first two long-range Gulfstream Vs for its NetJets fractional-ownership programme. The aircraft were included as options in a $500 million deal, signed in January 1995, under which EJI agreed to acquire 22 Gulfstreams over five years.
The Montvale, New Jersey-based company operates nine GIV-SPs, as well as more than 25 Cessna Citation S/IIs, 26 Citation V Ultras and 20 Raytheon Hawker 1000s. In early September, EJI ordered 20 Citation VIIs and 25 Citation Xs from Cessna. The company's two GVs will be delivered in the third quarter of 1998 and the first quarter of 2000.
The company sells fractional shares in business jets, which it operates, and guarantees part owners availability of an aircraft anywhere within the continental USA with 4h notice (6h is required for the GIV-SP).
A one-eighth share in a GIV-SP costs $3.5 million and it entitles the owner to make use of 100 occupied flight hours annually, at $2,480/h, with a monthly management fee set at $14,500.
EJI says that its customers range from private individuals to public companies and include corporations which already operate business aircraft, but which want access to a GIV-SP for supplemental-lift and long-range operations.
Source: Flight International