Skip to main content

Inside a Flexjet cabin.

Handout

Flexjet, which caters to flyers sharing in the ownership of a business jet, says sales bounced back strongly in the first quarter, indicating a recovery in demand.

The division of Montreal-based Bombardier Inc. says it posted new business growth of 83 per cent in the first quarter of 2013, compared with the year-earlier period.

Flexjet provides not only share ownership – known as fractional ownership – but whole aircraft ownership and management service, as well as charter brokerage services and jet cards for the purchase of flight time.

Story continues below advertisement

It said in a news release Thursday that new jet card sales increased 48 per cent year-over-year in the first quarter.

Fractional sales grew 108 per cent year-over-year in the quarter, the company said.

Flexjet said that buyers who put off making any decisions on items like private jets during the uncertain economic climate are returning.

"With the economy picking up speed, owners who have been tentative since the downturn have started to gain more confidence and are taking more and more trips," said Flexjet president Deanna White.

"Having the Dow Jones industrial average reach a record-breaking 15,000 points is not only a significant financial milestone, but also very good for our industry."

Flexjet says it's hiring pilots to satisfy increasing demand, a first since the 2008 downturn.

The Easter travel weekend saw Flexjet record flying hours at levels not experienced since the heights of 2007, the company said.

Story continues below advertisement

In the fractional ownership space, Flexjet is second in global market share to NetJets Inc., owned by Warren Buffett's Berkshire Hathaway Inc.

Flexjet – which has about 850 customers – offers a range of aircraft from Bombardier's family of business jets, including the Learjet, the Challenger 300 and Challenger 605.

Bombardier just pulled the wraps off its new 10-seat Challenger 350, with NetJets as its launch partner, at the European Business Aviation Conference and Exhibition in Geneva.

Report an error Editorial code of conduct
Tickers mentioned in this story
Unchecking box will stop auto data updates
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter
To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies