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Cost – Private jet travel is very expensive, and the fractional model can be the costliest option (when compared to memberships, charters, etc.). The plans are also complex, with multiple layers of cost that make it nearly impossible to calculate a realistic fully loaded bottom-line per-flight cost.
At the time, Flexjet held an approximately one-sixth of the total fractional market, which then amounted to 650 aircraft and 3,500 owners. [1] Flexjet saw its first substantial profit in 2006, with sales of fractional shares up 28 percent and revenue up 30 percent compared to 2005.
The first jet card was created in 1997 by Paul A Svensen, the founder of Sentient Jet, [8] a charter broker located in Quincy, Massachusetts.The jet card was developed in response to the highly popular fractional ownership programs of the time offered by NetJets and Flight Options.
For companies or individuals that require less than the minimum 50 flight hours and the five-year commitment of fractional ownership, they can buy flight hours in 25-hour increments via the NetJets jet card programs. [23] Due to a surge in demand for private aviation during the COVID-19 pandemic, NetJets suspended its card program in August ...
Eclipse offered its Jet Complete program to guarantee a maintenance cost of $209 per flight hour for owners flying 300 to 3,000 hours over three years, while the Jet Complete Business was aimed at operators flying 250 to 1,500 hours annually.
Four years after the original Judicial Watch report in 2014, the cost to operate and maintain Air Force One had fallen to $142,380 per flying hour, which remains the most recent data available ...
Under Silvestro, Flexjet experienced 20 percent growth in new business in 2016 compared to 2015, with 50 percent of the new business coming from customers who earlier had flown with another fractional private jet company. Moreover, business generated through referrals from existing Flexjet Owners grew 23 percent in 2016 versus 2015. [37]
A Flexjet Learjet 40. The Learjet 40 is derived from the Learjet 45, but with a shorter fuselage (by 24.5 inches/60 cm), and is powered by two Honeywell TFE731-20AR engines.
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