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Ready to take-off.
Fractional Helicopter Ownership in Europe
The concept of fractional ownership has, without doubt, become a phenomenal success within the business jet community but it is yet to progress passed the embryonic stage in the European rotary-wing industry. Selling ‘timeshare’ in a helicopter presents unique challenges and requires
a completely different approach to the peculiar market requirements.
In the USA, Sikorsky Aircraft Corporation has its own company offering fractional helicopter ownership, Associated Aircraft Group (AAG). AAG are able to offer quarter and eighth shares in S-76 series helicopters that are based in the North East corridor with operations centred on the New York metropolitan areas.
AAG has proven that the ‘New York’ model for fractional ownership works; in Europe it has not as yet had the same success. While the concept is exactly the same as with business jets, reaction speed and availability are the key issues. The area of operation is obviously far less spread out; where a high speed jet can be positioned anywhere in a matter of hours, this is not the case with a helicopter. This effectively means that the current range is no more than 300 nautical miles from the helicopters base and explains why helicopter fractional ownership is very much a niche-specific add-on to corporate travel.
Potential fractional users are corporations with in-house flight departments where there may be a need for ‘top up’ capacity but a reluctance to spend up to US$10million to purchase a machine; smaller companies, businessmen and entrepreneurs who require the convenience, speed and security offered by helicopters but not the costs of establishing and running a flight department.
Generally speaking, if you plan to fly more than 150 hours a year, fractional may be economically viable for you versus the option to charter. A fractional service has to offer the latest quality aircraft, highly trained and experienced crews, rapid response and a guarantee of no turn down. Currently if you charter with Air Harrods they match all of the above criteria with the exception of total availability, due to the policy of first come first served. That said, with some compromise and understanding, most timings and requests can be met. On this basis many appreciate the shorter term nature and more limited investment of purchasing charter/flight-time in blocks of 50-hours – the half-way house between charter and fractional ownership.
Fractional makes eminent sense if you have long-term needs and are comfortable committing to a five-year ownership term. An individual or company purchases a share or interest in a helicopter without assuming maintenance or management responsibilities that come with owning your own aircraft. You purchase only as much flight time as you need to meet your travel requirements. Air Harrods provides professionally trained pilots, maintenance, hangar, insurance and scheduling. In short Air Harrods can manage everything concerning the care and operation of your helicopter interest. Owners are billed for all other costs associated with their flights such as landing fees, heliport wait times, special use fees, special catering, ground transportation and taxes in a manner consistent with owning your own aircraft.
One hurdle to face the helicopter is the regulatory authority and their view on what constitutes fractional ownership. Over the past five years the growth of fixed-wing schemes has led to a better and clearer understanding of the rules regarding monetary reward for flying services. If the concept is to gain wider acceptance within Europe this hurdle must be overcome in order to progress the service. Despite the stalled and relatively slow start for helicopter fractional ownership in Europe, AAG have proved that it works in their North East corridor area of America. With the correct customer base and possession of the necessary pool of suitable helicopters the fractional ownership business can expand throughout the UK and Europe. Whether Air Harrods wishes to do it alone remains to be seen, but possibly through key partnerships the concept will also establish itself over this side of 'the pond'.
If you are interested in the fractional ownership of helicopters and would like further information, please contact us. |
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