Eclipse, Safire Owners Guaranteed Cost Coverage

Online air-taxi broker CharterAuction.com has launched a program in which it will guarantee future owners of the Eclipse 500 and Safire S-26 twin-engine entry-level business jets enough charter income to cover interest payments and the DOCs for up to 20 hr of flying monthly. This income is based on at least 40 hr per month of charter income, according to the Quincy, Mass. company. Aircraft will be managed and flown by charter operators that will have an agreement directly with the aircraft owner. Among the first charter operators to join the program are Pacific Jet of Van Nuys, Calif., and Air Castle of Los Angeles. The Eclipse 500 is not scheduled to enter service until early 2004, and the S-26 is more than two years away from entering service.