The 2011 Owner Satisfaction Study told the same story, adding our teams’ superior service delivery as another big differentiator. This July, we announced enhancements to our program that continue the story, raising the bar with new benefits that let owners enjoy even greater utility and value from the share they own in the PlaneSense fleet.
One of the underlying themes in conversations with owners and prospects has been the desire for flexibility. Not at any price, but with some degree of common sense and utility. We found that intersection of flexibility and utility in our knowledge of historical flight data and our constant pursuit of value. Over the past few months it became real as two different flight time options, on any share size. We found that we could help owners who predominately fly trips like Bedford, MA, to Martha’s Vineyard maximize their kind of usage, while offering the same kind of opportunity to those of you who may have longer flight profiles, like Teterboro, NJ, to Washington/Dulles or Chicago, IL, to Lewisburg, WV. The outcome is a new level of customization. It is a new approach for us and the industry, entirely designed to maximize the value and utility that you receive from your share in the PlaneSense program.
VALUE THROUGH UTILITY
Having exclusively flown the PC-12 in our fleet since the inception of the PlaneSense® program in 1996, recently flying over 20,000 flight hours per year, we know that it is an extremely durable, reliable, high-quality aircraft that can offer share owners greater utility over a longer time period. Pilatus’ experience with the PC-12, with applications ranging from business travel to medevac transports to leisure flying and even scheduled airline service, echoes our experience. We have translated that collective learning, along with feedback from owners who know the PC-12’s performance, into the opportunity for our share owners to now hold their asset for up to 10 years.
Unlike other fractional programs, a PlaneSense share owner has always had, and will continue to have, the right to remarket his or her share at any time. (We, of course, want you to remain in our program as long as possible, but we know this flexibility is important to you.) As a result of additional input from owners that mirrored our own assessment of the PC-12, we have designed a Residual Value Assurance (RVA) that is now available with new shares, providing additional flexibility with predictable exit options at years 5, 7 and 10.
The PlaneSense fractional ownership experience has always been about sensible economics; the benefits of private aviation in a safe, reliable and versatile aircraft; and superior service. We remain committed to these principles. Naturally, we wish that all share owners could immediately benefit from the new PlaneSense program features, however, contractual considerations specific to the aircraft in which you own a share, as well as FAA regulations, define eligibility for switching to the updated program. Our team will reach out to you and the other owners in your plane six to nine months before your contract expires, and possibly even sooner, to help you evaluate your options in context of these new program benefits.
Customized Program Review Six to Nine Months Before Your Contract Expires*
1.Review of flight data (hours, length and number of flights, airports used) and cost data (hourly rate, landing fees, catering fees) from the past 12 months.
2.Comparison of new program features and options to your specific flight profile to determine how you can maximize your value, taking into account cost, flight time and trip availability.
3.Conference call to discuss findings and implementation options.
*Residual Value Assurance only available with new PlaneSense shares.