Bell 430s Are Ordered for Fractional Sales

HeliFlite Shares, a new Dallas-based firm, has ordered two Bell 430 twin-turbine helicopters for delivery in the first half of February 1999, and has optioned up to eight more for the company's start-up helicopter fractional ownership program. The aircraft will initially serve its owners on a regional basis in Texas and California, say HeliFlite officials, typically within a 250 nmi radius.

According to HeliFlite President Phillip M. Ozenick, each helicopter will be equipped with satcom voice and data transmission systems, multimedia presentation capabilities, leather interior, computer power outlets, in-cabin baggage storage "and other flying boardroom features." Seating will be provided for up seven passengers. Aircraft will be crewed by two FSI-trained pilots, and maintenance will be provided only by Bell authorized service centers.

Ozenick says fractional interests may be acquired either by direct purchase or through an "off-balance-sheet tax lease" with a guaranteed residual value at the end of the five-year ownership term.

Fractional ownership is available in as little as a one-eighth share for a purchase price of $688,000, a monthly management fee of $9,651 and an occupied flight hour cost of $642.27. A one-eighth share allows the owner up to 125 occupied flight hours.

HeliFlite estimates that the total pre-tax cost of a one-eighth share after five years is $1.29 million. Regardless of the share, HeliFlite estimates a pre-tax cost per hour of $13.32 per mile. The after-tax five-year cost estimate is $1,376 per hour or $8.88 per mile.

By Gordon A. Gilbert