Flight Options has seen numerous changes since last year's NBAA
conclave, among them a recapitalization by Raytheon resulting
in the manufacturer's owning 65% of the fractional operator, and
the exit of Kenn Ricci, who founded the company in late 1998.
Cleveland-based Flight Options (Booth 3701) still promotes itself
as the most economical of the fractional operators, although it's
offering shares in new aircraft from Raytheon in addition to the
older, pre-owned aircraft that were its staple under Ricci.
As part of the deal announced in June, Raytheon is to provide
secured aircraft and retail financing over the next three years.
Flight Options, which now incorporates the Raytheon Travel Air
fractional ownership business, has taken Raytheon Aircraft Services
as its preferred supplier for aircraft maintenance, an alliance
said to represent "a five-year agreement in excess of $400
million." RAS will provide factory-certified maintenance
to the entire Flight Options fleet, as well as infrastructure,
parts, tooling, processes, fuel and systems support.
"This alliance allows us to have access to over 15 maintenance
centers throughout the United States," said John Nahill,
Flight Options' new chairman and CEO.
The company has a new five-year fleet management program with
Pratt & Whitney Canada for JT15D-5 engine maintenance services
for its Beechjets.
Flight Options claims a fleet of more than 200 aircraft, including
the King Air B200, Premier I, Citation V, Citation 650, Hawker 800XP,
Falcon 50, Challenger 601 and Gulfstream IV.
The company's latest offering is the Hawker 400XP, an old airplane
with a new name: it used to be the Beechjet 400A. The first of 32
Flight Options 400XPs is to enter service by the end of this month,
and four more by year-end.
Flight Options says it now has more than 2,300 fractional share owners, having
reached the 2,000 mark one year ago. The firm claims to "typically"
provide cost savings of 35%, "opening private jet travel to
a broader audience."
