KANSAS CITY, Mo. and ATLANTA, Oct. 19 /PRNewswire/ -- Executive AirShare, a Kansas City, Mo.-based regional fractional aircraft ownership company, today introduced EMBark32, a first-of-its-kind equity ownership program that bridges the gap between on-demand charter, charter cards and fractional ownership for business aviators.
EMBark32 offers corporate aviation users the opportunity to earn a 1/32nd share interest in a 2009 Embraer Phenom 100 aircraft without committing to the standard five-year fractional aircraft ownership contract. Program participants can enroll in the EMBark32 program by placing an $80,500 deposit to gain access to one of the 2009 Phenom 100 aircraft.
After EMBark32 participants have flown 150 hours, they will have earned a 1/32nd share in that aircraft, and have the opportunity to pay for the remaining 1/32nd share to become a fractional shareowner or apply 50 percent of the fair market value of their 1/32nd interest towards additional flight-hours.
Current and future Executive AirShare fractional shareowners retain the advantages of the industry's most economical, highest service-oriented fractional aircraft ownership program, which ensures that shareowners have access to their aircraft on a "per day" basis, enabling them to fly in their own aircraft with pilots they know on a first-name basis the majority of the time, as well as the option to interchange their Phenom 100 flight hours for flight hours on Executive AirShare's Super King Air 350, King Air C90B, Beechjet 400A or, beginning in Summer 2011, on Phenom 300 aircraft.
"We have designed EMBark32 as an entry-level program to introduce the Executive AirShare brand of service to corporate aviation users who haven't yet made the move into fractional ownership or are looking at alternatives to more expensive national charter and fractional programs," said Executive AirShare President and CEO Robert D. Taylor. "This new program compares favorably to on-demand charter and 'card' programs and will enable us to attract new future shareowners and expand our reach into new markets."
"The EMBark32 program offers access to some of the earlyPhenom 100 aircraft in our fleet without diluting the availability or residual value of our shareowners' aircraft," adds Keith D. Plumb, president and COO, Executive AirShare.
Executive AirShare is currently the world's largest operator of Phenom aircraft and operates a fleet of Phenom 300 and 100, Beechjet 400A, King Air 350 and C90B aircraft. Executive AirShare also offers aircraft management and charter services through its subsidiary, Executive Flight Services. For more information regarding EMBark32, please visit www.embark32.com. For more information about Executive AirShare and its services, please visit www.execairshare.com. For more information about Executive Flight Services, please visit www.execflightservices.net.
SOURCE Executive AirShare