Air Partners adds frax to its charter, management business | Aviation International News

Charter & Fractional

Air Partners adds frax to its charter, management business

Canadian aircraft management company Air Partners has launched a fractional-share program to capitalize on historically low used aircraft prices.

By Matt Thurber • Editor-in-Chief

January 27, 2010

Canadian aircraft management company Air Partners has launched a fractional-share program to capitalize on historically low used aircraft prices. Air Partners is headquartered in Calgary and is a subsidiary of Morgan Air Services, which was founded by WestJet Airlines cofounder Tim Morgan in 1983. In addition to aircraft management, Air Partners offers charter and aircraft maintenance services.

Air Partners operates Cessna Citation Ultras and Excels and Hawker Beechcraft King Air 200s. So far the company has added one of each of those types to its fleet in the last six months and sold a one-sixth share in each type. The dramatic drop in used aircraft prices spurred the move to sell fractional shares, according to managing director Vik Saini. “The private aviation side has been battling a serious storm, and as a result prices have decreased 50 to 55 percent in some cases,” he said. “We’re confident that we were near the bottom, and it’s a great opportunity to buy airplanes that are undervalued or being sold by motivated owners.”

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