European fractional ownership start-up Jet Republic has collapsed following a decision by company shareholders yesterday to withdraw funding. Lisbon, Portugal-based Jet Republic was launched in September 2008 on the back of a record order for 110 Bombardier Learjet 60XRs valued at $1.5 billion.
The first mid-size aircraft was scheduled for delivery in October. A formal statement is expected to be issued by the company later today.
© Jet Republic