Executive AirShare Senior Director of Sales Paul Woodard talks during a media tour of the newest aircraft in the Executive AirShare fleet - the Embraer Phenom 300 at Atlantic Aviation, 7930 Airport Blvd., Thursday, Feb. 4, 2016, in Houston.
Executive AirShare, a fractional aircraft ownership company, showed off its new Embraer Phenom 300 light jet based at Hobby Airport during a media event Thursday.
Executive AirShare has had a hub at Atlantic Aviation in Hobby Airport since late 2014, and it was flying in and out of the city well before then. But in December, the eight-passenger Phenom 300 became its first plane to be based full-time in Houston.
The company plans to also have a six-passenger Cessna Citation CJ2& and a nine-passenger Beechcraft King Air 350i based out of Houston. These planes were in the hangar Thursday.
"We have so many flights coming in and out of here every day and every week," said Jill Plumb, director of marketing and corporate communications. "It's one of our top destinations of our customer base."
Kansas City, Mo.-based Executive AirShare has eight to 10 Houston customers. In more mature markets, it generally has 20 to 30 customers.
Fractional ownership is similar to a timeshare. Customers buy part of one airplane but can fly on any plane in its fleet. The smallest share someone can purchase is 1/16 of a plane, which gets them 20 days of flying a year. As more of a plane is purchased, customers get more days to fly.
Executive AirShare provides the pilots, maintains and insures the planes, and handles scheduling.
"The benefit in fractional is you don't really have to worry about the airplane," said Paul Woodard, Dallas-based senior director of sales.
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