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This Wednesday, January 18, the Brazilian company Prime You announces that it has just become the first Brazilian company to have a jet with the capacity to perform flights to other continents in the shared ownership system.
This was the result of a US$ 14 million investment; Prime You has incorporated its asset portfolio with an Embraer Legacy 650 and reported that it already has its three commercial shares. The acquisition integrates its expansion of evaluation areas evaluation and plans for internationalizing operations. The company intends to incorporate six new executive jets in the next three years: three Phenom 100 and three Phenom 300. It will be about two per year, potentially increasing these numbers according to demand.
It is also likely that there will be another Legacy 650, which shares can already be reserved. “Our investment in the aviation area amounts to US$ 92 million and represents an important step towards the project of internationalizing operations,” says Marcus Matta, the CEO and founder of Prime You. “The plan is to expand our presence in this area. And we are preparing for it.”
Marcus Matta also makes an observation about the acquisition of the Legacy 650 confirming the pioneering nature of Prime You. “We have become the only company in the luxury goods sharing sector to have, in its portfolio, an aircraft capable of performing transcontinental flights,” he emphasizes. With the arrival of the Legacy 650, it will be possible to meet a significant pent-up demand for several intercontinental trips on exclusive aircraft. “After the peak of the pandemic, since the reopening of international borders for Brazilian tourists, many people have returned to traveling, but prioritizing conditions of greater safety, comfort, and privacy. In this sense, executive aviation meets all these premises,” adds the founder and CEO of Prime You.
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Considered a long-range aircraft, with a flight autonomy of up to 7,200 km, the Legacy 650 allows for travel to other continents at a speed of about 850 km/h. With this jet, it is possible to connect, non-stop, cities like São Paulo and Miami or New York to London. Its capacity is up to 13 passengers, in addition to the pilot and co-pilot.
Aircraft Sharing Model
In Prime You’s operation system, the Legacy 650 is also shared by three partners, each owning about 1/3 of the asset. The shareholder has the right to use the jet, but a minimum of 10 days per month, enjoying their international travel to the fullest. In addition to the share value, the shareholder has a monthly fee to help cover fixed costs, and another for hours flown, to cover fuel, lubricants, and maintenance provision expenses.
Prime You takes care of the management of active partners, such as crew hiring, asset administration, hangaring, among other points. “The incorporation of the Legacy 650 into the asset portfolio translates the innovative DNA of Prime You, the first company in the executive aircraft shared ownership market to be certified according to the new RBAC 91 Subpart K, in July of last year, and the first to be authorized to offer air taxi services,” Matta concludes.
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