Jetfly, the Luxembourg-based fractional ownership programme, has announced an order for 10 Socata TBM 700s, five to be delivered this year and five next year. The 6/7 seat pressurised single props represent an order worth EUR25 million.

Mr J Lemaigre du Breuil, deputy administrator for Jetfly, told EBAN: “The first TBM we bought was in 1991, so we know this aircraft very well. It’s a very reliable aircraft and ideal for aviation in Europe. When you have to fly between one and two hours it is a perfect aircraft.”

Jetfly’s fractional ownership scheme was established in 1999; before that, the company’s aircraft were in “co-ownership”, with three TBM 700s managed for other companies. “We saw what was happening in America, and since we already had three TBMs in co-ownership, we were able to share these aircraft – if one was in maintenance, for example, we could supply another one. Everyone was friends so it was very easy to organise like that,” said Lemaigre du Breuil.

“It was not fractions but it was very close to fractions. Then we decided to change our organisation and to do it in the fractional way, and to market this concept around Europe,” he said.

Since then, the Santulli brothers’ fractional ownership programme NetJets has begun its European campaign, but Jetfly remains unruffled, according to Lemaigre du Breuil: “We are not in competition with NetJets because we are not in the same size of aircraft, we are not in the jet activity right now, although maybe in the future. The prices are so different between a light or middle sized jet and a turboprop. We have the same concepts but are not on the same market.”

The issue of licensing is a thorny one for fractional ownership in Europe, Lemaigre du Breuil believes: In the US, programmes are invariably licensed as private undertakings, he said: “But when I started discussions in Europe about this idea, the first people I contacted was the French CAA. We tried to discover how they would decide if we were private or commercial; they said, “we don’t know”, and since we were the only aviation company in Europe who wanted to do that they didn’t make much effort to make a new regulation.

“As you can imagine, there was some pressure from other air taxi operators who said that we must be put into the commercial side. I felt we must be in the private transportation side, so we went to England, Germany, Switzerland. When we talked with the Luxembourg CAA, they said, “of course you are a private operation because you are only flying with your co-owners.”.

Jetfly’s basic premise was that European companies interested in fractional ownership do not have the same approach as a US company: ”There is not the same money to spend on business aircraft in Europe as in the US. With the turboprop, prices are much lower,” Lemaigre du Breuil said.

Jetfly is hoping to recruit ATPL pilots: “The TBM 700 is a very easy aircraft to operate,” he asserted, “but we will be operating in areas where there is a lot of traffic. We decided to have very experienced pilots with at least 5,000 hours, and we want them with ATPL because in the future, when we add jets to the programme we will need TRTO pilots.”

The new TBM 700s will be have maintenance provided by EADS Socata. “We are very pleased with EADS. The two TBM aircraft bought in 1991 were subsequently sold; buyers were very impressed with the standard of maintenance. This is very important to a fractional ownership scheme as sometimes the fractional owners do not know anything about aircraft, so they have to be very confident in us. If you are working with the factory then no-one can say anything to you,” Lemaigre du Breuil said.

The general ambience of flying with Jetfly is more functional than vip. The service is sometimes used by top management, but very often middle management, he said, who don’t expect the same executive treatment. “Sometimes there is some catering, which of course we can organise, but generally it is short flights, one hour fifteen minute average,” he said. “Generally they are working on-board, it is really a business tool rather than a fashion tool.”

The scheme has seven customers so far, from Switzerland, Belgium, France and Luxembourg. Clients in Germany, Italy, UK, and the Netherlands are being prospected.

“Companies don’t come to us yet,” admitted Lemaigre du Breuil. “Our co-owners have been very good in putting us in contact with customers.

They are happy with us and so they talk around. We are in negotiations with one of the biggest companies

in Europe.

“We will also talk with some aircraft owners who we know are not using their own aircraft very much: The TBM 700 is quite expensive, and with the fractions they can afford to fly in it. They can also be sure with us that the pilot will be of the best quality,” he added.

Jetfly guarantees availability at 1,500 airports in Europe, 24 hours a day and at 12 hours notice. A 1/8th share in the scheme equates to 62.5 hours a year flying.