BILLINGS -- While flying doctors around Eastern Montana, North Dakota and Wyoming remains the chief charter core of Edwards Jet Center, a mixture of jets and golfers has produced another income stream for the Billings-based aviation corporation.
For two years now, Edwards Jet has reserved one of its two Cessna Citation V jets for Sentient Jet Inc., a Boston-based company that specializes in well-heeled clients who want to lease, not own, jets.
Sentient Jet contracts with about 25 U.S. fixed-based operators, and out of that herd Sentient has selected Edwards Jet as its preferred operator for 2007 for reliability, safety and service.
"I really am pleased because the pilots are Montanans, the flight scheduler, Barb Schuman, a Montanan, and the way people are treated by our crews is phenomenal," said owner Cliff Edwards.
To lease a ride from Sentient Jet, customers put nonrefundable money down in $100,000 increments on a flying "debit card." Customers then are guaranteed a 10-hour response time anywhere in the U.S. with a ride on one of 130 aircraft, from light jets like the Citation V, a medium jet or a heavy jet like the Gulfstream IV or V.
Prices start at $3,750 per hour for a light jet to $7,850 for a heavy jet like a Falcon 50. A nonstop, coast-to-coast flight runs $45,000 each way, according to Sentient's Web site.
The company also manages flight operations for St. Vincent Healthcare's fixed-wing air ambulance, plus physician outreach services for the region.
Meanwhile, last July, Edwards sold Holman Aviation of Kalispell, a company he bought six years ago and renamed Edwards Jet Center.
The buyer was billionaire William P. Foley II, who is the founder and chief executive of Fidelity National Financial Inc. The turnkey deal let the 35 employees keep their jobs, Edwards said.
"He and I completed this deal in 15 minutes on the telephone one Saturday morning," Edwards said, adding that Foley took his suggestion to rename the business Glacier Jet Center.
Billionaire Foley is listed as the fourth highest-paid U.S. executive by Forbes.com with a total compensation package of nearly $180 million last year. Fidelity National is ranked in the middle of the Fortune 500 pack.
Foley owns several top restaurants in Whitefish, MacKenzie River Pizza and is a major shareholder in Big Mountain Ski Resort, which he helped rename Whitefish Mountain Resort.
And earlier this year, Edwards Jet of Billings signed a three-year contract with Sentient.
"These customers have very high expectations. They are used to first class," said Chris Edwards, who is Cliff Edwards' son and a member of the board of directors.
While Cliff Edwards refused to disclose financial terms on the Sentient contract, he said the arrangement has been good business. Golfers are major customers for Sentient and Edwards Jet.
"They are contracted with the PGA tour and have planes waiting at every PGA event," said general manager Robb Bergeson.
Cliff Edwards purchased the former Lynch Flying Service, now Edwards Jet, on April 1, 2001.
Since buying Lynch, the business has sold off most of its 30 prop aircraft and moved to an all turboprop or jet service. It now runs eight jets, including six King Airs and two Citation Vs, which fly 500 miles per hour.
The Citation covers the trip from Billings to New York City in 3½ hours.
Today, Edwards Jet writes paychecks to 70 full-time and 85 part-time employees.
Soon after Cliff Edwards added aviation to his law and ranching resume, terrorists hit the World Trade Towers in New York City, and flying took a serious hit.
"The markets for light jets after 9/11 went into the tank," Edwards said. "But they've come back really strong."
Posted in State-and-regional on Sunday, December 16, 2007 12:00 am
© Copyright 2009, helenair.com, 317 Cruse Ave. Helena, MT | Terms of Service and Privacy Policy