Europe’s still-fledgling entry-level charter jet market is showing some positive signs of growth, according to leading operators and analysts. But turning a profit with the aircraft–to date, largely Cessna Citation Mustangs and Embraer Phenom 100s–will not be an easy task according to Michael Ricks, COO of UK-based Oriens Advisors, an aviation consultancy that specializes in the entry-level jet market.
Ricks said that firms already in and entering this market must have financial staying power. “If additional investment is needed it is best to do it sooner when you can evaluate several market alternatives as opposed to having to hustle later when potential investors sense mismanagement or creditors are getting ready to pull the plug,” he told AIN. In his view, there is a potential for turboprop clients to move to the light jets for charter, but developing a true air-taxi model for Europe with light jets is a long way off as there are not enough aircraft in the area to “achieve critical mass.”
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