Saturday March 13 , 2010

Flight Options

Flight OptionsIn July 1997 Corporate Wings began development of the industry’s first nationwide previously owned aircraft fractional ownership program under the name Flight Options, Inc.  In October 1998, Flight Options was formally launched at the 51st Annual NBAA Convention in Las Vegas, NV.  While fractional ownership of aircraft was a proven concept with new aircraft, primarily supported by the aircraft manufacturers, Flight Options became the first company to offer a complete line of jets at a 35% savings over comparable aircraft offered new by other programs.

Flight Options quickly became the fastest growing fractional program in June 1999 by adding 100 customers in just nine months.  In December 2001, Flight Options combined operations with Raytheon Travel Air, effectively doubling the size of the company and moving the company into the sale of both new and pre-owned aircraft. 

In December 2005, Flight Options became a wholly-owned subsidiary of Raytheon and introduced the Go-Forward Business Plan that rationalized the fleet, which is now one of the youngest fleets, as well as the most effective and efficient fleet in North America.

Flight Options was acquired in November 2007 by H.I.G. Capital, LLC, a leading global private equity firm with more than $4 billion of equity capital under management. 

In March 2009 Directional Capital -- an investment firm led by Flight Options Chairman Kenn Ricci, and Resilience Capital Partners -- a leading private equity firm, and key members of the Flight Options management team made an additional investment in Flight Options. H.I.G. Capital also remains an investor.

Fractional Aircraft Ownership

With fractional ownership, you purchase an undivided interest in a specific aircraft. The size of the aircraft and share will be directly related to the number of hours you anticipate flying as well as the length of your trips. Monthly Management Fees vary by aircraft size and cover fixed costs like insurance and pilots. Occupied Hourly Rates include variable costs such as fuel and maintenance. Flight Options’ Owners benefit from access to negotiated fuel prices based upon our preferred vendor program. Flexibility is the key to the Flight Options fractional program.  When your mission calls for a different cabin type than your fractional purchase, you have the ability to choose a cabin size that suits your needs from the Flight Options fleet*.  A large cabin can carry up to 13 passengers to a trade show, while a light jet is prefect for a ski trip for two.

Flight Options’ common sense approach can save you hundreds of thousands of dollars over the five-year term, as compared to other fractional ownership programs.

JetPASS Jet Card

Introducing the new Flight Options JetPASS Select 25-Hour Jet Card Membership program. At up to 31% less than our competitors, JetPASS Select combines the low hourly rates of charter with the safety and consistency of private jet ownership. Flight Options has taken the mystery out of private jet card programs with a simplified rate structure that offers affordable, efficient and easy access to one of the best fleets in the industry. Do the math. The difference is clear.

www.flightoptions.com