Flight Options growth continues
Company will continue to build on success by continuing to expand
Flight Options will continue
to build on the successful 2011 performance, a year in which the company posted
its third consecutive year of sales and operating gains, by continuing to
expand its leading fractional aircraft ownership, proprietary membership and
full range of jet card programs in 2012.
Kenn Ricci, chairman Flight Options said “It was a relatively quiet year in the
business aviation marketplace, except at Flight Options. In a year when few
operators took delivery of new business jets, Flight Options was aggressively
investing in its business to deliver competitively priced, flexible access to
aircraft that meets our clients’ business and personal travel needs.”
Ricci continued “We are committed to honoring our obligations to our aircraft
manufacturer partners, and did so even during the recession. The ability to
take delivery of new business jets over the past two years underscores our
financial strength, the soundness of our business model and our ability to meet
our Owners’ expectations for innovation, service and value.”
Embraer Phenom 300, Cessna Citation X and Nextant 400XT aircraft.
“One of the statistics from 2011
of which we are most proud is that over one-third of all new owners came from
referrals…a strong and appreciated endorsement from our current owners,” said
Michael Silvestro, Flight Options chief executive officer.
The company will continue to
take delivery of new aircraft, including more Phenom 300 and Nextant 400XPs.
The new Embraer Phenom 300s are part of a previously placed 100-aircraft order.
In 2011, Flight Options launched a membership program for the Phenom 300 that
combines the flexibility of a jet card with the advantages of fractional
ownership. The membership program is partly financed through a
first-of-its-kind, $167 million credit facility with BNDES.
The new Nextant 400XT aircraft are the first of a 40-aircraft order for the
world’s first completely remanufactured business jet. The 400XT delivers an
aircraft that is faster, more fuel-efficient and more comfortable than the
original at approximately half the cost of competing models.
“We are committed to combining the latest technology and the finest
passenger amenities with the smallest carbon footprint possible,” added
Silvestro. “In 2011, we continued adding the incomparable Embraer Phenom 300 to
our fleet. The first Nextant 400XT entered our fleet in October, providing the
comfort, amenities and mission capability of a mid-size jet while offering
higher cruise speeds and lower fuel consumption than most light jets. Finally,
we made the world’s fastest business jet even faster and greener; Our Cessna
Citation X with winglets has a faster time-to-climb, a seven percent increase
in range and a six percent reduction in fuel consumption…all at 92% of the
speed of sound.”
Ricci believes that the
business aviation industry will see a slight and steady improvement in 2012, he
concluded “The exception, of course, will be Flight Options, where the timing
of our current and projected product lines has perfectly aligned with
marketplace dynamics, giving us momentum to build on our market leadership and
continue outperforming the industry.”