Comlux, which has taken steps to reduce currency risk and improve its competitiveness in Europe, is considering how best to cost-effectively expand its managed aircraft fleet.

Stephen Laven, Zurich-based ceo of the Fly Comlux division, says that the global economic downturn has led to increasing enquiries for aircraft management. But he points out that the company has traditionally managed Airbus and Bombardier aircraft offering owners the quality service and competitive costs made possible by economies of scale.

"Quite a lot of our enquiries, for instance, are from owners of Gulfstreams - the G550 and G450 - and we would like to offer them a service on the same basis as for our current Airbus and Bombardier aircraft clients. It is a question of how to respond to market demand in a way that enables us to continue to offer the cost advantages inherent in managing aircraft of the same type."

Laven says: "The preferred approach would be to synchronise the management of two or more of these different aircraft to start with and then develop the fleet. Comlux has always focused on managing a number of aircraft of similar types in order to dovetail the provision of services such as crew and maintenance."

He confirms: "Many owners are now looking to charter to get back some revenue and Comlux Switzerland has had a number of enquiries as a result. I think it is fair to say that a lot of owners have gone down routes that they previously would not have considered in order to reduce costs. They have looked at selling aircraft but it is obviously a buyers' market and difficult in that respect and that has led them to a managed solution."

Laven adds: "We have just set up our first Bermuda approved aircraft: it is a private registration with the aircraft only available for use by its owner."

The Comlux fleet comprises 15 aircraft - two ACJs, two A318 Elites, three Global Expresses, including two XRSs, two Global 5000s, two Challenger 605s, two Challenger 850s, a Falcon 2000 and a Hawker 850. This includes three aircraft managed fully for private owners - an ACJ, a Global 5000 and a Challenger 605.

But most of the fleet is now operated from Malta although the two XRS and the Falcon 2000 are being joined on the Swiss AOC by a Hawker 850. Laven explains: "Our costs were largely in Swiss francs while most charter income was in euros or US dollars. By basing operations in Malta our costs will be in euros and our revenue will be in euros which reduces the currency risk. Operating from Europe also means that Comlux is enjoying the same level playing field as EU operators."

In revenue terms, the income from Malta has grown while that generated in Switzerland has reduced. "But," Laven adds, "we have retained the experience and personnel in Switzerland such as the sales, administration and flight operations. The pool of expertise available in Switzerland is extremely important to Comlux. From Malta we provide maintenance and flight operations."

Laven admits that 2009 has been a challenging year with aircraft being put out to charter on very competitive terms. "There has been a lot of pressure on the price. A lot of aircraft available providing choice in each sector. I think it is a charterer's dream but Airbus charter has done quite well. It has weathered the economic storm better than other sectors."