Fractional Share Sales Jump at Flight Options

Flight Options reports renewed interest in its fractional shares and jet cards during the first quarter, noting that net share sales doubled from a year ago while JetPass card sales climbed 46 percent. Officials for the Cleveland-based company declined to specify the exact number of net fractional shares sold, but did say that first-quarter gross share hour sales grew significantly, from 225 hours last year to 1,275 this year. In addition, fractional utilization in the quarter climbed 8 percent year-over-year, while JetPass flight revenue hours rose 35 percent. The fractional provider, which recalled eight furloughed pilots last month, announced that to help meet growing demand, it will recall up to 24 more pilots in phases, with eight of them reentering service this month. Additionally, the company plans to reopen its Sacramento, Calif. maintenance center to expand its operating capacity on the West Coast.