The acquisition of a Citation II aircraft marks the relaunch of one of the casualties of the executive jet business affected by the New York terrorist attacks in 2001.

UK-based charter operator 247 Jet, formerly Fairflight Corporate Jets, has begun operations again following the certification of the aircraft in February 2006.

Prior to 9/11, the company had operated a Citation II aircraft but when business was seriously affected by the event, it had had to sell the aircraft and lay off the crew.

Said managing director Paul Mulligan: "September 11 caused me all sorts of dilemmas. In order to keep the creditors happy I got rid of the aircraft and with it the crew, then waited for the dust to settle.

"I kept the company solvent by immediately selling the plane, thinking it would be six to 12 months. Well it was three years plus, and during that time I sourced PW120 engines and ATR 72s for various commuter airlines. Preowned business jet prices kept falling and the US dollar kept weakening. We purchased another Citation II when these bottomed.

"The company has always remained solvent and we returned to profit at the end of 2005 with #1,047,000 of assets and #940,000 capital allowances.

"We changed base from Luton to Southend because of congestion and costs and opted for a new company name to reflect what we've always been; a '24-hour, seven days a week, rapid response operator.'"

Fortunately, the company managed to retain many of its former clients and brokers, according to Mulligan, and he now feels optimistic about the year ahead.

"2005 was a half decent year for the business jet market, which said to me that a Citation II, properly kitted out, would pay its way. Brokers

were calling me saying they were running out of capacity so I knew things were improving."

"It's an ascending market and right now, I can only see it getting busier and busier," he added.

247 Jets hopes to acquire a second aircraft, a Falcon 50, in two to three months' time, that will enable it to offer transatlantic charter flights in addition to its current operations in Europe and North Africa.

Mulligan was attracted to the Falcon 50 and the Citation because they would pay their way. "Hawkers might be able to as well but the operating costs are higher," he said. "The Falcon 50 has plenty of range, plenty of payload, and there's about a five per cent difference in operating costs," he stated.

The Citation II has been reupholstered, resprayed and had top grade avionics installed, plus heavy duty brakes to increase its takeoff weight. The company hopes to fly the aircraft for 700 to 800 hours per year. There are also plans to custom-build a hangar and develop a maintenance business at Southend Airport, Mulligan said.