Loading
Nothing shows confidence in the continuing rebound of a market like an $11 million investment in a new private airplane.
That's why executives at Rectrix, a private jet and general aviation facility at the Sarasota Bradenton International Airport, recently bought a new Lear 45XR jet. The purchase now gives the facility an $11 million plane to go with a $22 million Bombardier Challenger 300 it owns. Rectrix also leases spots for 20 planes in its 45,000 square feet of hangar space.
“We really believe the market is starting to make a comeback,” Rectrix President Richard Cawley tells Coffee Talk. “(And) the best time to spend any capital is when things are down.”
The 45XR holds nine passengers, and specializes in business travel. Features include a flat panel TV with real-time air location and strong Wi-Fi that can support Skype video calls.
Rectrix, in addition to its own planes and space for other jets, will also fuel planes, set up charter flights and perform maintenance services for clients. The company is based in Hyannis, Mass., where it has another facility.
Cawley says the Rectrix expansion won't end with one new plane in Sarasota-Bradenton. The company hopes to have at least five more locations within two or three years. It also intends to launch commercial air service at some point in the near future. “We see (business) increasing a lot,” says Cawley, “so we are going to go for it.”
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
