Chicago's Jet Support Services, Inc. (Stand 7624) is talking up a "revolutionary" new program whereby a portion of the payments made for aircraft maintenance are, over time, credited back to the customer. The money can then be applied toward a new aircraft or taken back as cash.

"This is a winning opportunity for all customers," said JSSI president Haskins. "The single largest frustration voiced by existing JSSI customers has been that there has rarely been an engine maintenance program designed with an opportunity to receive money back," he said. "Now there is one."

The program, JSSI Vest, is modeled after 401(K) tax deferred savings plans, whereby companies match employees' retirement savings, with the money becoming available to the employee in formal, pre-set stages via a process called vesting.

After three years of participation in such maintenance programs as JSSI Complete, JSSI Select and Tip-to-Tail, customers are eligible to receive 21% of their cash back if they sell their airplane or terminate the contract, Haskins said.

After 48 months customers may receive a 42% cash back option, "and finally, after the completion of the first full term (60 months) of the JSSI contract, customers may receive up to 65% of any positive balance returned to them in cash.

"Clients re-enrolling aircraft for successive five-year terms will always have the ability to get back 65% of the outstanding positive balance," the company says.

"Of course," says JSSI, "as with traditional 401(K) plans, there are rules to be followed with JSSI Vest. The cash back option applies only to a positive balance after all expenses attributable to the cost of the engine program have been paid.

"For example," the company continues, "if a client invests $100,000 with JSSI and has engine expenses of $80,000, inclusive of all fees and charges, the client will have the ability to take a check for $4,200 (21% of $20,000) after 36 months, $8,400 after 48 months or $13,000 after the full five-year (60 month) term. The remaining funds remain in the JSSI Engine Maintenance Trust."

JSSI says it's the world's only independent hourly cost maintenance program provider, offering clients a "flexible and affordable financial tool for managing the often unpredictable costs of operating and maintaining nearly all types of turbine-powered aircraft, including jets, turboprops and turbine-powered helicopters."