Air Share, a new fractional ownership scheme, has been launched in the U.K. by Atlantic Bridge Aviation Limited. ABA owns Lyddair, the scheduled and charter operator based at London Ashford airport.

ABA and Lyddair md Jonathan Gordon says: "Our aim is to offer the keenest priced fractional ownership deals available anywhere in Britain. We have already signed a contract with a Kent business."

Aircraft available include four Piper Chieftain each seating between four and six passengers. The aircraft are flown and managed by Lyddair.

Shares are sold in blocks of 12.5 per cent minimum. Each 12.5 per cent tranche costs between #20,000 and #30,000, depending on the aircraft value, and must be held for five years when it can be sold at current

market value. There is also a guaranteed buyback at 60 per cent of the original investment. The maximum shareholding is 75 per cent.

Each 12.5 per cent entitles the owner to 40 days use of the aircraft, or similar aircraft in the Air Share programme. An annual management fee is payable monthly in advance and is #12,000 for each 12.5 per cent holding.

"Whenever you fly it is always at direct cost plus 15 per cent, meaning your flights are as cheap as possible. Typical direct hourly cost for the Chieftain is #457," says Gordon.

The aircraft are based at Lydd or Le Touquet but can be positioned anywhere in Europe.