Gloves come off in two-way frax fracas | Aviation International News

Charter & Fractional

Gloves come off in two-way frax fracas

With the consummation of the Flight Options/Raytheon Travel Air merger on March 21, the fractional ownership business is “a two-horse race between Flight O

May 15, 2008

With the consummation of the Flight Options/Raytheon Travel Air merger on March 21, the fractional ownership business is “a two-horse race between Flight Options and NetJets, relegating the other providers to boutique markets.” So says Flight Options CEO Kenn Ricci, characteristically confident in the future of the frax operator he founded in 1998.

Ricci launched Flight Options on the premise that pre-owned aircraft could be carved up for fractional ownership at less cost to owners than was the case with new airplanes. The marketplace apparently agreed, as evidenced by the growth of the Flight Options fleet from small beginnings in October 1998 to 750 owners and about 100 airplanes by last fall, shortly before the Cleveland- and Wichita-based providers decided to unite. That merger has put Flight Options’ fleet (at 205 aircraft) on a closer footing with NetJets’ fleet (which Ricci placed at 290 aircraft early last month), and it takes Ricci’s fleet to the point of critical mass that appears to position the company as a stronger competitor.

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