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Fri, Jul 25, 2008

Flight Design Announces Fractional Ownership Program

"CT Partners" Aims to Decrease Flying Costs

Flight Design USA announced Friday the launch of the "CT Partners" program, believed to be the first fractional ownership program for light-sport aircraft (LSA).

"In my Bonanza, I burn 16 gallons an hour at $6.00 a gallon," said CT Partners program developer Robert Mann. "In the CTLS I burn 4.5 gallons an hour and can use high-test auto gas at $4.50 a gallon. That's $96/hour versus $20/hour in the CTLS, a savings of nearly $8,000 a year if you fly only 100 hours."

Mann is starting the fractional ownership arrangement in Danielson, CT using a new fully loaded CTLS. A lifelong pilot, Mann is manager of an investment advisory company and a small hedge fund.

"I have been an entrepreneur all my life and have financed a number of businesses," said Mann. "It is important to me to work hands-on with a new business concept, develop intelligent trade practices and then roll out nationally."

CT Partners is an airshare arrangement where 10 people may own the plane with the right to 50 hours of use per year including 10 overnights per person. Each partner contributes about $15,000.00 to own the airplane with no debt. The CT Partners management company will book the airtime, handle the 100-hour maintenance inspections, annuals and pay the insurance for $350.00 per month.

Mann said he plans to lease the airplane to New England Flight Services, LLC to secure insurance for multiple owners. The FBO will provide flight instruction and make sure each partner is competent in the aircraft. Although rentals can lower costs for the Partners, program owners will have first priority to book the aircraft.

Mann is launching the first fractional ownership program at the Danielson airport (5B3), located close to importer Flight Design USA. After gaining experience, he expects to spread the concept across the country.

The long-range plan is to make CTs available to owners in other partnerships when they are traveling, sharing a network among independent groups.

FMI: www.flightdesignusa.com

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