Slate Aviation’s Challenger 850 fleet is being offered for a regional fractional ownership program via a joint venture with Magellan Jets.
Magellan Jets is entering the fractional jet ownership space via a joint venture with Slate Aviation.
The new regional program targets flyers with large groups and a lot of luggage traveling between the Northeast U.S. and Florida.
In addition to friends and family groups, targets include corporate shuttles and board meetings.
It is based on Slate Aviation’s fleet of Bombardier Challenger 850 aircraft.
The large cabin jets seat 19 passengers.
The type features a six-foot high stand-up cabin.
They also have 195 cubic feet of luggage space.
Pricing for this large cabin jet, according to Private Jet Card Comparisons’ exclusive QUICK COMPARE FLIGHT PRICING calculator, is about 11% less than the average hourly rate for super-midsize aircraft that typically guarantee eight seats.
That takes into account base hourly rate, monthly management fees, and guaranteed residual buyback.
The move marks the continued growth of the Boston-based broker, which was founded by three childhood friends in 2008 and has since grown to over $125 million in sales.
In 2023, Magellan Jets expanded beyond on-demand charter flights, jet cards, and membership to add private jet management and sales.
It also opened a private lounge for clients at Hanscom Field in Boston.
President Anthony Tivnan says, “The launch of our fractional ownership program is an exciting milestone, offering clients even greater flexibility and peace of mind, all under the trusted Magellan Jets umbrella.”
Plans call for selling four shares per aircraft.
Slate has 34 of the former CRJ-200 regional jets it is converting into the private jet configuration.
The first is expected to be in service by mid-July, with additional aircraft every six weeks.
In January, Vista Global’s XO announced an agreement in which Slate Aviation has taken over operations of its by-the-seat shuttle flights between the Northeast U.S. and South Florida.
So, how will it work?
Magellan Jets’ Vice President of Product and Innovation, Ryan Foss, says his company handles sales, services, booking, and customer requests.
Contracts and payments, including monthly managment fees, are with Slate Aviation.
Slate is a longstanding preferred operator for Magellan Jets, so this deal extends that relationship, according to Foss.
The new fractional program offers two primary service area zones.
On the northern side, the primary area radiates 200 nautical miles from New York City.
There is a like distance within the Continental U.S. in the southern zone.
The South Zone is centered in Palm Beach, Florida.
In the north zone, this would allow flights at the base hourly rate from Boston, Syracuse, to the north, or Washington Dulles Airport to the south.
The southern area spans from Key West and includes north to Orlando and west to Tampa.
Flights outside the primary service area are offered at fixed hourly rates with a surcharge.
The airplanes have a westbound nonstop range that allows them to fly nonstop from the East Coast to ski resorts, based on loads and weather, making them optimal for north-south routings.
A 1/8th-share entitles owners to 60 flight hours per year.
The term is for 36 months, and Slate Aviation is providing a guaranteed buyback price.
The program has only 10 peak days.
Peak days carry a 25% surcharge.
There are provisions to rollover up to 25% of unused hours, as well as to overfly your share.
The Challengers are all equipped with WiFi.
A flight attendant is included in the base hourly rate.
There isn’t automatic access to Magellan Jets’ various membership and jet card programs. You would need to purchase those programs separately.
However, fractional customers will be able to utilize private terminals operated by Magellan Jets at Hanscom Field and the Slate terminals at Westchester County, Palm Beach, and Fort Lauderdale.
Foss expects a crossover with fractional customers buying jet cards and memberships for supplemental lift.
Slate Aviation Co-CEO Heather Maguire says, “Our joint venture with Magellan Jets perfectly aligns with Slate Aviation’s vision of redefining private travel through innovation, luxury, and unwavering safety standards.”
She adds, “By combining Magellan Jets’ commitment to tailored client experiences with Slate Aviation’s operational capabilities, we are proud to deliver an unparalleled level of service to fractional owners.”
Slate Aviation is the new marketing name of Tri-State Charter, introduced with the XO agreement.
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