Fractional providers are refreshing their fleets, taking delivery of new models in the industry’s first major upgrade wave since the 2008 economic downturn. If you’re a shareowner in one of these programs, this may present you with a stark choice: “It’s upgrade to a new airplane or get pushed out,” says Fractional Law attorney Daniel Herr, who notes the wide contractual latitude fractional providers have been exercising as they start transitioning fleets.
Discussing ethical use of business jets with Taylor Guitars cofounders Kurt Listug and Bob Taylor for this issue’s cover story was refreshing. These are guys who really get it. In fact, they get it so profoundly that they have difficulty fathoming how anyone doesn’t intuitively grasp what constitutes appropriate use of a business airplane. Taylor told me that he has had people ask him for “a ride” on his company’s Gulfstream G450, as if it were a speedboat.
After five years of slow growth, preowned-market sales volume headed into negative territory last year. Aviation data service JetNet reports fewer retail transactions were conducted in 2015 than in 2014, the first such decrease since 2009. Last year, 2,458 preowned business jets were sold, says JetNet, versus 2,569 in 2014—a 4.3 percent decline. Only the large-cabin category saw an increase in transactions (5.6 percent, from 770 units to 813).
Tony Robbins needs to perform at his peak when he’s leading seminars for thousands of people, which he does regularly all over the world. To help make this possible, the life and business strategist has been flying privately for over two decades.
One of Philadelphia’s crown jewels is sporting a new gem. Actually, an old one, since what used to be Torresdale-Frankford Country Club dates to a 1921 design by Donald Ross. Today it’s part of the Union League, the prestigious downtown club founded in 1862 whose South Broad Street home offers a classic example of Second Empire architecture. Now the city’s movers and shakers (and millennials) who are among its 3,500 members have a golf course of their own in the city, 13 miles to the northeast.
If you’re a charter customer or fractional owner, your net worth may well exceed that of your flight provider. That would make you the deep pocket with the most to lose in an accident, yet you have no role in selecting the provider’s insurer or drafting its coverage terms. So how can you protect yourself? By performing the most dreaded task in all of aviation—reading the insurance policy—and by keeping these tips in mind:
“If you can’t feed a team with two pizzas, it’s too large. ”