Flexjet, the fractional business jet ownership program of Bombardier Aerospace, saw a strong rebound in aircraft sales and orders in 2004.
The company experienced a 32 percent increase in the sale of shares of Bombardier Learjet and Challenger aircraft in the 12-month period ending December 31, 2004 compared with the same period of the previous year. The month of December was also the strongest in sales Flexjet has seen in more than three years and transactions completed during the fourth quarter of 2004 were up more than 70 percent compared with the same period in 2003.
"The new Bombardier Challenger 300 and Learjet 40 aircraft have given us a significant competitive advantage," said Michael McQuay, President, Bombardier Aircraft Services. "The response to these new aircraft is very positive and has contributed to our significant increase in sales and in orders booked," added Mr. McQuay.
The Bombardier Learjet 40 aircraft entered the Flexjet program in late January 2004. Four aircraft are now fully sold and the backlog continues to grow. "The market appeal, reliability and performance of the Learjet 40 exceeded our expectations", said Mr. McQuay.
The Flexjet Challenger 300 fleet has now grown to 10 aircraft and Flexjet has already booked orders for an additional seven aircraft.
"The introduction of a Secondary Service Area that allows Flexjet owners to fly to and from the Caribbean region without incurring aircraft repositioning fees, has contributed to our recent increase in sales and orders," stated Bob Knebel, Vice President, Sales, Bombardier Flexjet. "We continue to lead the industry in program innovation, flexibility and satisfaction. Our people, along with program enhancements such as Versatility Plus and Anytime Options, have been critical components in owner satisfaction," added Mr. Knebel.
A recent survey found that, on average, Flexjet owners rate their overall level of satisfaction at 90 percent. The professionalism of Flexjet flight crews was highest-rated at 99 percent.
Established in 1995 and based in Dallas, Texas, Bombardier Flexjet offers a turnkey program allowing individuals or companies to purchase a share in a Bombardier business jet at a fraction of the full ownership cost. Flexjet owners select the most appropriate aircraft type for their needs, determine the number of hours per year they fly, and purchase shares of the Bombardier business jets starting at a share size of 1/16th (equal to 50 hours flying per year). Flexjet guarantees 24-hour access to its fleet with as little as six hours notice and can fly into 10 times the number of airports available to commercial flights, for maximum travel flexibility. Owners pay predictable monthly management and usage fees, while Bombardier Flexjet manages aircraft maintenance, flight crews, hangars, fuel and insurance on their behalf. Flexjet is the only fractional provider that fields an exclusive family of Bombardier business jets, including the Learjet 40 XR, Learjet 45 XR, Learjet 60, Challenger 300 and Challenger 604.
A world-leading manufacturer of innovative transportation solutions, from regional aircraft and business jets to rail transportation equipment, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2004 were $15.5 billion US and its shares are traded on the Toronto and Frankfurt stock exchanges (BBD and BBDd.F). News and information are available at www.bombardier.com.
Bombardier, Learjet, Challenger and Flexjet are trademarks of Bombardier Inc. or its subsidiaries.