“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
European Business Jets Expands Fleet
Fractional ownership firm European Business Jets (EBJ) plans to expand its fleet through the addition of an aircraft management division. The company, based 70 miles north of London at Cambridge Airport, is also considering adding new airplane types, including very light jets such as Embraer's Phenom 100 and the HondaJet. Earlier this year, EBJ introduced the Experience Card as a block-charter option to allow new customers to experience the use of private aircraft by purchasing five flight hours for $27,730. About half of its 25 clients are currently flying under this plan.