Story ID: 
Marquis offers European ‘minishares’
By: Charles Alcock
Caption: Marquis, the U.S.-based remarketer of Executive Jet’s NetJets fractional-ownership shares, has opened a European sister company.
Word Count: 294
Marquis, the U.S.-based remarketer of Executive Jet’s NetJets fractional-ownership shares, has opened a European sister company. London-based Marquis Jet Partners is selling 25-flight-hour packages for the four aircraft types in the NetJets Europe fleet, namely the Citation Bravo, Citation Excel, Hawker 800XP and Falcon 2000.The Marquis packages are offered on NetJets’ standard occupied-hour terms or its all-hours program. The all-hours option offers reduced flight hour rates, but with customers paying for all hours flown on their behalf rather than purely for occupied hours. It is aimed at fractional customers who primarily use the aircraft for short round-trips. Due to its import tax status, the hourly fee for the Bravo light is subject to 17.5 percent value added tax. Hours in the other aircraft do not incur this tax.All flight hours are supposed to be used during the 12-month contract term. Customers are required to pay for all 25 flight hours up front when the contract is signed.Marquis guarantees aircraft availability with 12 hr notice from the customer (compared with the 10-hr notice required for the NetJets Europe program). If the client’s specified aircraft type is not available, an alternative of equal or better specification is provided, either from NetJets Europe’s core fleet or from an approved charter provider.Customers can use other aircraft in both the NetJets Europe and North American fleets, according to a sliding scale of interchange rates. Flight bookings are made via Marquis’ own customer-service department in London.Marquis has an exclusive partnership with NetJets, meaning that it does not remarket flight hours in other fractional or shared-use programs. By contrast, European Skytime is looking to offer rival packages through providers such as Bombardier’s Flexjet Europe program. Marquis’ European operation was launched in London last month.