The two biggest players in fractional jet ownership have different approaches to the jet card segment
The vast majority of jet cards are marketed by charter brokers, however, two of the most prominent names in the jet card space – NetJets and Flexjet – are in fact fractional aircraft operators with their principal business selling fractional shares and leases in whole aircraft. Fractional ownership entails a commitment of three to 10 years whereas, with jet cards, we have seen programs with commitments starting as few as 10 hours and $25,000.
The jet card and fractional share seller is promoting from within to replace outgoing CEO Keith Plumb
Kansas-based Executive AirShare has named John Owen as its president and chief executive officer after serving as the company’s interim president the past two months. Owen, formerly the chief financial officer, succeeds Keith Plumb, who announced he was stepping down from the company in February.
The company sells Jet Cards, leases and fractional shares on a by-the-day basis. The move reflects the increasingly tight market for pilots.
Executive AirShare announced in a press release an across-the-board increase of salaries for pilots to meet the growing demand for fractional aircraft ownership. The new salaries are between 18% to 30%more for pilots-in-command (PICs) and seconds-in-command (SICs) joining the company. In conjunction with the salary increase, PIC migration to a more favorable 8-On/6-Off scheduling cycle is expected help the company meet its goal of hiring 25 pilots in the next six months.
Executive Air Share sells fractional shares, leases and Jet Cards by the day instead of the hour
Keith Plumb is leaving Executive AirShare, the company he co-founded in 2000 and where he has been serving as president and CEO since 2014 after seven years as president and COO. Plumb is scheduled to leave his current post in the next 30 to 60 days as part of a transition plan and will remain as CEO until that point.