This new membership program combines the benefits of fractional ownership with the cost advantages and flexibility of jet cards. Members have access to the new Phenom 300 executive jet by Embraer, without the asset purchase or monthly management fees.
"Flight Options has a long history of delivering value to its clients through innovation, and the new Jet Club Membership program is squarely in this tradition," said Michael Silvestro, Flight Options Chief Executive Officer. "Our program provides greater flexibility with a lower financial outlay, making it the perfect complement to our successful fractional ownership and JetPASS programs."
The new Jet Club Membership program has two levels allowing members to access either 75 or 150 hours of flight time in the Phenom 300 to be used anytime within the 36 month membership period. The program's pricing structure consists of a one-time membership access fee and block purchases of either 25 or 50 hours at a time. Similar to fractional ownership, Jet Club Membership provides Members the opportunity to lock-in the base hourly rate over the term of their contract, subject to an annual adjustment. Membership also guarantees a 12-hour response time with full access to Flight Options' primary and extended service areas.
The Flight Options Phenom 300 has best-in-class fuel economy, cabin comfort, speed and mission capability surpassing that of many mid cabin jets. Flight Options began taking delivery of the Phenom 300 executive jet in May 2010 and currently has seven of the aircraft in service. Flight Options anticipates having 15 Phenom 300s in operation by the end of 2011.
"For 13 years, Flight Options has been a pioneer in private aviation, continually breaking new ground in safety, service and value," said Kenneth Ricci, Chairman of Flight Options. "The Jet Club Membership revolutionizes the traditional private jet program structure, making Flight Options the only private aviation company to offer membership in the Phenom 300."
The fractional aircraft companies have been innovating this year as they really start to grow again coming out of the recession. Several companies launched alternatives to fractional aircraft shares earlier this year.
Read this earlier articles for a look at fractional ownership of the Phenom 300 and the associated costs and options.