Press Release

Issued by .

August 8, 2012

As part of its comprehensive five year expansion, plan Learjet specialist Manhattan Jet Management is pleased to announce its new Jet Share Programme, offering businesses and individuals the opportunity to acquire one eighth shares in a Learjet.

This new product offering sees Manhattan Jet Management (MJM) enter the private aviation fractional ownership market as one of only a small handful of European operators capable of doing so.

With five jets currently under management – including two Learjets owned by MJM – the Farnborough-based AOC operator is renowned for its aircraft management and charter services and the new Jet Share Programme is a natural evolution of these. A typical one eighth share on a Learjet 45 aircraft can start from $700,000 (or leased at $7000 per month) allocating one hundred occupied hours per year over the course of a five year agreement, guaranteeing aircraft availability from any suitable European airport within 24 hours' notice. The all-inclusive hourly rate at £4900 per occupied hour offers approximately a fifteen per cent saving in fees when compared to the competition.

Throughout its 18-year history Manhattan Jet Management has built an enviable reputation for exemplary service and safety levels. However, following the recent merger with European Skytime the business is set to carve a new path for expansion over the next five years.

Steve Westlake, Manhattan Jet Management MD, explains: "The need for businesses to fly privately in order to compress business cycles and maximise the efficiency of its executives is still in great demand. However, in recent times those businesses have been forced to address conspicuous consumption issues, so for a business (or individual) flying more than 75 hours per year Jet Shares make much more sense. A fractional ownership model allows shareholders in an aircraft to maintain a flexible approach to the need to fly privately without the commitment or cost of outright ownership."

He adds: "Now is a great time to get involved in fractional ownership – the cost of jets is low and commercial airlines are facing ever increasing problems and delays. We plan to expand the Manhattan Jet Management business model in the next few years, increasing the number of jets under management and extending our fleet's range creating an unparalleled value-for-money proposition in the private aviation sector."