Thrive Aviation launches fractional ownership fleet with HondaJet and Challenger 3500

Thrive Aviation has revealed the first two aircraft in its fractional-ownership fleet, according to Private Jet Card Comparisons. The fleet comprises a HondaJet HA-420 and a Bombardier Challenger 3500, both featuring custom paint schemes.

Thrive acquired the aircraft in partnership with Arulean Air, which is a wholly owned subsidiary of Honda. The two jets will be displayed at the NBAA-BACE conference. Rickey Oswald, Thrive's chief operating officer, said that "having both the HondaJet and Challenger 3500 on display at NBAA-BACE is an exciting opportunity to showcase what we're building."

Oswald continued: "We look forward to introducing these aircraft to prospective clients and demonstrating the versatility and capabilities of our new fractional fleet."

Thrive plans to add four to six HondaJet HA-420s and two to four Challenger 3500s to its fractional fleet annually. The operator will manage and operate the fractional programme while Arulean Air will acquire aircraft for the fleet.

Thrive's existing FAA Part 135 charter certificate covers a fleet of 25 aircraft. The partnership with Arulean Air began last September, when the subsidiary made a minority investment in Thrive.

Pricing and market implications

The reporting does not disclose what fractional ownership shares cost, what minimum investment amounts apply, or how pricing compares to established fractional operators. It is unclear from available reporting whether Thrive's existing 25-aircraft charter fleet will remain separate from the fractional programme, or whether charter clients might be affected by the expansion of the fractional business.

Neither Thrive nor Arulean Air has said whether existing charter cardholders will have priority access to the new aircraft, or whether the fractional programme will draw from the same pool of aircraft as the charter operation.

The reporting does not say when Thrive expects to take delivery of the additional HondaJets and Challengers, or what the fractional ownership terms will be. No pricing information has been disclosed for participation in the fractional programme.