Execujet plans to rapidly expand its management fleet after gaining a U.K. AOC and enhancing its London base. Gerrit Basson, group md, says: "The AOC and the opening of an exclusive passenger lounge at London City at the end of July represent our first two major steps into the U.K. which is a strategically important market for our European operations."

Headquartered in Zurich, Execujet quickly established a managed fleet of two aircraft, including a Falcon 900, immediately after gaining its U.K. AOC in February. "We are ratifying management contracts for further aircraft that will be available for third party charter," says Basson.

John Brutnell, who heads up Execujet's operations from London City's Jet Centre, points out that the lounge, although accessed from the centre, will have its own airside access. In addition to the lounge, Execujet is opening a U.K. sales office in nearby Canary Wharf, executive director group sales Andrew Hoy and executive sales director Troy Forsyth will be based.

The U.K. expansion comes as Execujet launches a Simply Fly programme targeted at what it believes is a growing demand in emerging markets outside the U.K. and the large number of fractional owners that wish to upgrade. Simply Fly, says Execujet ceo Niall Olver, acquires, operates and ultimately disposes of aircraft, providing fixed operating costs for the owner, who, unlike in a fractional programme, own the aircraft itself.

By adding the finance of the aircraft to other aircraft management packages already on offer, and by flying the aircraft to commercial standards on Execujet's own AOCs, the company claims that it has considerably simplified the process of owning an aircraft. Two types of finance will be available. One is an embedded operating lease, which, for most countries, offers off balance sheet financing, with no residual payment at the end of a typical five year contract. The other is an embedded long term finance lease, which has a higher deposit and the option to acquire the aircraft outright at the end of the term. Financing is being offered through Execujet's sister company QED Equity.

Olver told the product launch in London that Simply Fly is being targeted as a premium product, with a cost base calculated on 600 hours per annum usage. Customer can opt to have the aircraft chartered through Execujet's charter division to offset the operating costs and Execujet will also provide up to 100 hours of alternative lift for scheduled maintenance downtime.

The aircraft will be insured, crewed maintained and operated by Execujet, based where the customer wants and the initial fleet will be wide bodied, drawing on Execujet's sales agencies in 37 countries with Bombardier. Two pre-owned Challenger 604s will be acquired to commence operations, which is currently scheduled for September 2008. Global Express, Challenger XRS, 605 and 300 models are set to populate a planned fleet of ten new aircraft

A deposit of around six times the monthly fee will be required, but from that point, the costs are designed to be transparent, the only potential variables being for fuel, 'excessive' catering and additional aircraft costs. Basson says: "Over the past year to 18 months we have seen that regular fractional owners are starting to look to the next level - the ability to call on their own aircraft - but they do not want the responsibility of full jet ownership. We are addressing this gap in the market."