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Fractional ownership of aircraft is an arrangement in which multiple owners share the use and costs of purchasing and operating an aircraft. Several management companies provide fractional ownership programs for aircraft, including NetJets , Flexjet , Cirrus Aviation Services , and AirSprint .
Fractional ownership offers an individual or company the option to purchase a share of an aircraft. Shares from as little as 1/16 of an aircraft, which offers approximately 37.5 hours of flight time per year, to 1/2 of an aircraft can be purchased, depending on the needs of the operator.
PlaneSense is a fractional aircraft ownership program managed by PlaneSense, Inc. and based in Portsmouth, New Hampshire, United States.As of the beginning of 2020, they managed a civilian fleet of 44 total program aircraft, made up of 36 Pilatus PC-12 aircraft and five Pilatus PC-24 jets.
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While its price grew from $3.3 million in 2005 to $4.7 million in 2015, it retains 80-85% of its selling price after 10 years given average use, better than comparable turboprop or business jets, and it sells 40% faster. [33] Pilatus also uses a series of overseas distributors to market and sell the PC-12 within designated regions.
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The XF2R-1 in flight. The XF2R Dark Shark was based on Ryan Aeronautical's earlier FR Fireball, but replaced the Fireball's piston engine with a General Electric T31 turboprop engine driving a 4-bladed Hamilton Standard propeller.
[10] However, in March 1965 it was revealed that the Navy's request to fund development of the T78 for fiscal year 1965 had been rejected. [11] In that month, the T78 had run for the first time, one month ahead of schedule. [1] The T78 project was abandoned after about 350 hours of testing, because the Navy lacked a clear operational ...