On The Move Systems Corp. (OMVS) Preparing to Dominate Private Jet Air Chartering
Overall, the private jet industry has been very sluggish over the past few years due to a sluggish global economy. Cautious corporate executives, fearing usage of the corporate owned private jet due to backlash from activist hedge fund managers and other large shareholders, has also restrained the growth of this sector. The private jet transportation sector had begun growing since 1986 when a company called NetJets introduced a timesharing type of arrangement called fractional ownership of aircraft. While this type of business grew for a while, partial ownership, creating scheduling chaos and dealing with occasional empty flights, has generated questions…