BusinessJet Class is a Business-to-Business concern. On the air-charter demand side we have developed an automated distribution system that matches the functionality that airlines offer through their travel agency channels. Aircraft availability, automated and final pricing ? as opposed to quoting estimates - , as well as refunds and exchanges are all handled automatically by the system. Some 2,500 travel agency, corporate travel departments, and luxury travel agents have subscribed to BusinessJet Class and are able to provide full travel services to our passengers. This includes not only the obvious hotel and limousines reservations, but also the ability to book an intercontinental flight on a commercial carrier as a continuation of the private charter trip. The simplicity and safety net surrounding our automated distribution systems has also appealed to some FBOs and charter brokers. BusinessJet Class guarantees availability by securing an aircraft of similar size in the rare cases where the air-charter operator cannot meet the schedule. BusinessJet Class will absorb the price difference when unexpected events affect the value intially quote by the air-charter operator. That is why FBOs and charter brokers found that, from a sales process perspective, we have shielded our distribution channel from the complexities and risks that arise when securing an aircraft and quoting a trip. Indeed, BusinessJet Class has not only automated the distribution process but has also standardized it, making the private jet charter as easy to sell as an airline product. On the aircraft operation side we are probably the only ones providing the full toolset to create an integrated value chain for on-demand air-transportation. BusinessJet Class is offering aircraft and crew scheduling systems, back office cost accounting systems, yield management systems, SSR Systems ? which, for example, helps track special catering requests or passenger meet-and-assist requests ?, and airport check-in systems, all of which tie into our automated distribution system. The key driver behind this effort is to make it possible for the small air-taxi operator to provide world class service levels consistently, flight after flight after flight. The business systems we are providing, offer the basis for the standardization of the operators? internal processes, which in turn will allow them to offer a quality product that matches the consistent quality of fractional ownership programs. What does this mean practically? One of our FBOs, for example, offered the idea to lower fuel prices to benefit operators on our network, other FBOs will surely follow. Similarly, mechanics who will join our network will be able to measure in advance the need for spare parts and qualified labor because they will know our operators? fleet. This will increase their ability to provide faster service to our operators - which in turn will benefit from reduced service interruptions. For many aircraft owners who authorize their aircraft management firms to charter their aircraft under Part 135, this means higher utilization and a reduced total cost of ownership. All things considered, BusinessJet Class is ?systems thinking? in action. Quality and world class service levels cannot be provided in a vacuum. A single trip is the result of a cooperative effort over time between aircraft manufacturers, pilots, mechanics, FBOs, aircraft owners, ATC, FSS, travel providers, airport managers, regulators, and even neighborhoods which drive requirements such as noise abatement and environmental protection. BusinessJet Class sees itself as an integral part of this community and as a result, when we launched BusinessJet Class last September, we decided to adopt a triple bottom line approach to measure our progress. a) Financial bottom line: which measures such items as profits and market share. b) Environmental bottom line: which monitors how we -and our partners within the value chain- affect the environment. To this end we are putting in place a number of programs to provide financial incentives to those of our suppliers who adopt environment friendly policies. c) Social or Corporate citizenship bottom line: which measures how successful we are in promoting ethical best practices within the value chain and how we -and our partners- are able to play a role in developing our communities.
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