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Learjet order launches carrier
19 October 2008
A $1.5 billion order for 110 aircraft shows that Jet Republic means business despite the credit crunch.
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Jet Republic
Learjet
Bombardier
Jonathan Breeze
A new private aviation company has launched, with the largest European order of Bombardier business jets – 110 Learjet 60 XRs, worth $1.5 billion.
Based in Portugal, Jet Republic targets wealthy entrepreneurs and executives. European American Investment (Euram) Bank, an independent Austrian private bank and a consortium of the bank's clients are funding the company. Subscription for investment closed in July, when the company claims it was subscribed twice over.
Jet Republic's business plan assumes continued growth in the business jet sector, forecasting annual growth rates of 10%, and predicting Europe's share of the global market increasing from 13% to 25% over the next decade. Regionally, it sees greatest demand for its service in the UK and Ireland (30%), with Russia and eastern Europe (20%) next.
Jet Republic's model is based on...
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