FLEXJET FRACTIONAL OWNERSHIP

Source: Flexjet

May 18, 1999
On Wednesday, May 19, Flexjet, a fractional jet ownership program of Bombardier Aerospace, will display a full-scale, 46-foot-long mock-up of one of Bombardier's newest business jets, the Continental, on Madison Avenue between 50th and 51st Streets. The mock-up of the fuselage with a fully appointed interior will be in New York to give current and potential participants in the Flexjet program an opportunity to view this future addition to Flexjet's growing fleet.

The media is invited to visit the mock-up Wednesday afternoon and learn more about fractional jet ownership and Flexjet. Available for interviews will be the President and COO of Bombardier Aerospace, Mike Graff, and current Flexjet owners, including former NFL quarterback and current business entrepreneur Fran Tarkenton.

A rapidly growing concept, fractional jet ownership is aimed at senior executives and high net-worth individuals. It offers all the advantages of owning a private jet without any of the problems and responsibility of maintenance, repair or hiring a crew. The potential market in the U.S. alone is estimated at 200,000.

The main competitors in the fractional jet ownership industry are Flexjet and NetJets, a company owned by Warren Buffet's Berkshire Hathaway. Flexjet, which has grown an average of 55% per year for the past three years, is making an aggressive bid to replace NetJets as the number one program.

Flexjet is the only company which builds, flies and maintains its own aircraft.

Hardworking, success-driven New York executives will appreciate the many advantages of fractional ownership, which allows them to perform at peak levels. Being able to fly in and out of uncongested, smaller airports, and to schedule use of their aircraft on four hour's notice, gives Flexjet owners maximum flexibility.

Fractional jet ownership through the Flexjet program allows busy executives to use work time more efficiently, which means more personal time to spend with their families. Comfort, convenience, safety and privacy are all important benefits of Flexjet ownership. Flexjet fractional ownership allows corporate flight departments to offer more and provides first-time buyers with affordable, turnkey entry to business jet ownership.

Under the Flexjet program, owners purchase a fraction of a business jet with a yearly flight time entitlement. Owner-members have guaranteed access to a fleet of Learjet and Challenger aircraft, 24 hours a day, any day, on as little as four hours notice, and pay only for occupied hours. The fleet is operated and managed on behalf of Flexjet owners by Business JetSolutions and is never used for charter to the public.

Introduced in May 1995, the Flexjet program now has more than 200 owners.