Seeking to add fleet capacity in light of growing demand for private aircraft flights, charter operator and aircraft management firm Ventura Air Services is offering a new owner lease program for Cessna Citation Excel/XLS and Bombardier Challenger 604/605 owners that will absorb their fixed costs while providing them with financial and tax benefits.
The New York-based company said the program makes it feasible for owners of those types who only need to fly 50 to 100 hours per year to access and enjoy the benefits of aircraft ownership. It will provide a consistent financial return for each hour an owner’s aircraft is used.
Ventura Air claimed that, in many situations, owners enrolled in the program will realize a profit from the revenue that comes from operating leased jets. Insurance costs are also covered and flight crews are provided by Ventura. Also covered are standard maintenance costs, which include scheduled inspections and discrepancies except for significant corrosion, capital improvements, and any engine/APU maintenance not covered by a subscription program. For new buyers of Excel/XLSs or Challenger 604/605s, the program also allows in most cases 100 percent depreciation of the purchase price in the first year.
“It is very clear to us that there are many Cessna Citation and Challenger owners who are sitting on an underperforming asset,” said Ventura CEO Nick Tarascio. “Our approach is simple: we take on the risk and costs. All that is required of owners is to pay the standard expenses they incur for their own flights.”