ORLANDO, Fla., Oct. 7, 2003 (PRIMEZONE) -- Global Jet Shares, the only fractional jet ownership company offering previously-owned Gulfstream jets, will launch today during a press conference at the National Business Aviation Association's (NBAA) Annual Show. The company will redefine the fractional jet ownership industry by offering all of the prestige and performance of a luxury Gulfstream at just a fraction of the price.
"By offering previously-owned Gulfstream jets, we are able to maintain the luxury of the world's most technologically advanced business jet aircraft, but offer it at a much lower price, a concept which is sure to have a profound impact on the fractional jet industry as we know it," said Richard Asper, Chairman of the Board of Directors of Global Jet Shares. "The interest from individuals and corporations looking to maintain luxury but decrease travel and ownership costs associated with large corporate aircraft will open a new and important jet aviation market."
According to the General Aviation Manufacturers Association, purchases of fractional jet shares are on the rise. In 2002, the number of individuals and companies in the U.S. that own a fractional share of an airplane rose 20 percent to 4,098. Meanwhile, the number of planes in fractional programs grew just 11 percent to 776.
Global Jet Shares owners will enjoy all the modern technologies, state-of-the art electronics and on-board amenities equal to those of new Gulfstream aircraft to ensure that their flight experience is completely comfortable, luxurious and efficient. Only the most sophisticated pilot or jet mechanic can distinguish between a new GIV and a Global Jet Shares GIII with all of the aircraft's cabin and technology upgrades.
The large cabin, speed and extraordinary range of the Gulfstream have defined the aircraft's reputation as the jet of choice for discriminating corporate jet users. The features of the Global Jet Shares GIII aircraft include:
-- Capacity for 12 to 14 passengers, in stand-up comfort and luxury
-- Range of 3600 nautical miles with NBAA/IFR reserves for true
transcontinental non-stop convenience
-- Cruising altitude of over 41,000 feet, well above the weather and
airlines
-- Stage III compliant
-- Full-size stand-up lavatory
-- Full galley with oven and microwave oven; wet bar; full catering
services
-- Exceptional cabin attendant service
-- Fine china and crystal; fine bedding and linens
-- Internal luggage access
The technology and electronics on board rival the finest executive office suite and include:
-- Satellite communications for phone, fax and computer hook up -- Airshow 400 passenger display for map location, speed and altitude -- DVD and CD player; Sony PlayStation -- Minimum of 2 monitors; custom sound system
Safety is of the utmost importance to Global Jet Shares, whose commitment extends beyond federal requirements for fractional jet operators. The company conducts all flight operations under the Air Carrier Certificate and ARG/US rating of their affiliate, Pacific Jet, Inc. Unlike many fractional operators who only adhere to CFR Part 91 regulations, Global Jet Shares operates under the stricter requirements of FAA Part 135, in the same fashion as a major U.S. commercial airline. Even the new Subpart K to Part 91, once implemented for some of the fractional providers, will be less safety-conscious than the airline standards GJS demands under 14 CFR Part 135.
Global Jet Shares will sell 1/8 fractional shares of previously owned Gulfstream jets for approximately $1.3 million per share.
About Global Jet Shares
Global Jet Shares is the only company offering fractional ownership of previously-owned Gulfstream jets, the world's most technologically advanced business jet aircraft. The company offers the unmistakable luxury of a Gulfstream jet combined with unparalleled service, at an incredibly low price by utilizing pre-owned aircraft which hold their value and offer immediate and long-term financial and tax benefits.
Based in Van Nuys, CA, Global Jet Shares is led by an executive team that has dedicated their professional and personal lives to the aviation industry and are renowned in their areas of expertise. Global Jet Shares executives have over 25 years of combined operational Gulfstream experience, have led the aviation industry in regulatory issues, and are dedicated to the safety and quality of their aircraft.
To contact Global Jet Shares, please call 877-333-2343 or visit www.globaljetshares.com.