AeroShares, a new company based at St. Johns County Airport in St. Augustine, Fla., launched a fractional-ownership program to serve travelers who fly throughout the Southeast. The company intends to use a fleet of three pre-owned King Air B200s to fly to and from destinations within a 700-mile radius of St. Augustine. At press time, AeroShares had started operating one B200 for three shareowners. Under a five-year contract, a one-eighth share in the turboprop twin costs $250,000 and provides 75 flight hours annually at an hourly rate of $750.