Canford Aviation, based in Poole, UK is in the process of setting up a pre-pay programme which puts a variety of aircraft at the client’s disposal. Jet-Credits aims to provide a choice of aircraft as well as simplicity and a transparent price structure, according to Canford’s chief executive Nick Davis.

“Fractional ownership doesn’t always suit everyone, so I developed this scheme as an experienced player in the fractional ownership market. This programme is suited for people who want to fly in both helicopters and jets,” said Davis.

One credit is valued at £3,000, and customers must buy a block of ten for £30,000. There are four aircraft groups: Group A includes Lear 35s and Agusta 109 helicopters, group D comprises Gulfstream Vs and BBJs. Credits are deducted at the rate of one per occupied flight hour for group A aircraft, two for group B, four for group C and five for a group D aircraft. 35 per cent of these credits are refunded, according to Davis, if the mission is a day return, overnight or a multi-stage.

Davis said: “Over the last few months I have been part-running a helicopter charter company, with three Agusta 109s, so I am well versed on what the charter prices are for those. To say that it is £3,000 per hour for a 109, that is a worst case scenario, and includes all the positioning, based on a one-way flight; nearly all helicopter flying is day returns or overnights, so you get 35 per cent off.

“By the time the customer has paid for positioning to go an hour down the road, plus all the landing fees, there are not many quotes that I did for an hour’s flying that came out below £2,500.

“How many fractional ownerships offer S76s, Jetstream 31s, King Airs and Gulfstreams? There’s not one. I have chartered to a lot of clients that one day will want to use a 109 to go to the Grand Prix, and the next

will want a Hawker 800. Some programmes only use manufacturer-sponsored aircraft. You have to fit the right aircraft to the itinerary.”

Davis believes that US-based fractional ownership companies are not making much impact in Europe: “You can’t bring an American programme run by an American company into Europe and expect people to buy it

because 4,000 Americans have. The European culture is well versed in air chartering.

“Some fractional ownership schemes have a monthly invoice, and if you don’t pay within your allotted time, you are not allowed to fly. The European culture won’t accept that.

“With Jet-Credits, there are no hidden costs: People know where they are. You don’t have to worry about positioning fees, you know the price depending on the flight time and the class of aircraft,” he said.

The £30,000 minimum for the annual block of credits is paid into the customer’s lawyer’s account. Davis says there is no danger of customers money being lost, even if the scheme was to founder:

“I’ve taken that out of the equation, I am certainly big enough to carry my own losses, certainly for the first year,” he said.

40,000 brochures are currently being posted to potential clients; no deals need to be made with European charter operators; Davis will simply charter the aircraft required depending on demand, and if an aircraft of the type demanded is not available, a complimentary upgrade will be provided at Jet-Credits’ expense, he said.

“We’re targeting time-conscious companies and individuals,” says Davis. “They don’t want fixed overheads or administrative hassles. By basing the programme on time in the air – rather than quarter or eighth fractions or anything else – we’re opening up business aviation.”

Davis has been chartering and selling corporate aircraft for 15 years. He was until recently head

of aviation sales at the Sunseeker boat company. The aviation arm of the company has recently closed down: “We had a very good customer base, but Sunseeker was essentially a boat manufacturer, and people were coming to buy a boat and leaving with an aeroplane. We decided it was starting to affect the core business,” he explained.