JetSet Global Fuel Inc.

October 21, 2009 15:54 ET

JetSet Acquires MS760 Paris Jet Type Certificate

Ushers in a New Era of Very Light Jet Aviation

ORLANDO, FLORIDA--(Marketwire - Oct. 21, 2009) -

Editors Note: There is a photo available with this Press Release.

JetSet Aviation Holdings SAS, a subsidiary of JetSet International Ltd., is pleased to announce that it has reached an agreement with SOCATA for the purchase and transfer of the type certificate and associated rights for the world's first Very Light Jet (VLJ), the MS760 Paris Jet. Designed, manufactured and originally certified in France by aviation pioneer Morane-Saulnier (now SOCATA), the MS760 is a four-seat, twin-engine jet that cruises at 400 M.P.H. and has a range of 1,000 miles. The MS760 was awarded FAA Certification on July 3, 1958 and was introduced as the first business jet in North America by Beech Aircraft Corporation.

The type certificate will be licensed to MS760 Corp., which will provide engineering, sales and other related services for the MS760 platform. While the type certificate transfer is not expected until Q1 2010, MS760 Corp. has already acquired the manufacturer's drawings and tooling, spare parts and a fleet of over 30 MS760 aircraft.

"JetSet International Ltd. has long been interested in the MS760 potential in the VLJ and Personal Jet markets and remains committed to investing in the long term development of the MS760 platform," says Edward Furtak, president of JetSet. "In addition to investing in the acquisition of the type certificate from SOCATA, MS760 and its partners have invested in numerous engineering programs oriented toward updating the MS760, including a planned turbofan engine option."

A two-ship air show team, led by Captain Dale "Snort" Snodgrass, USN (Ret), has been announced to showcase the aerobatic and precision flight capabilities of the MS760, which is certified in the U.S. in the "Utility" category. "MS760 customers will be offered significant fuel discounts for their aircraft," says Mark A. Schneider, Esq., president of JetSet Global Fuel Inc. JetSet Global Fuel is the 2010 sponsor of the air show team.

The quality, reliability and performance characteristics of the MS760 have a well established history. "I'm thrilled to be the lead pilot for Team MS760. It's easy when you are given the keys to a machine that truly opens the envelope," says Captain Snodgrass. "The MS760 platform is a solid four-seat, IFR equipped aircraft with remarkable reliability and excellent flight capabilities."

A standard equipped MS760, with flight training and other special 2009 incentives included, will sell for approximately $550,000 US. Avionics upgrades, such as the Chelton, Avidyne and Garmin panels, are also available. Avionics purchase and airframe refurbishment completed in 2009 could qualify for 50 per cent bonus depreciation under the Economic Development Act of 2009.

  • The Very Light Jet (VLJ) is defined as an aircraft that seats four to six passengers, travels almost as fast as current light jets and has a range of 1,000 nautical miles. The VLJ market has recently seen significant press coverage and is expected to grow rapidly over the next five years.
  • The MS760 was designed, manufactured and certified in France by aviation pioneer Morane-Saulnier (now SOCATA).
  • JetSet International Ltd. is a Bermuda-based company founded by Edward Furtak, a Canadian private pilot and entrepreneur who recently purchased the company's first MS760. Mr. Furtak transitioned from a Mooney TLS Bravo into the MS760 and has now accumulated approximately 200 hours in type.
  • JetSet Aviation Holdings SAS is a French-based subsidiary of JetSet International Ltd., a Bermuda-based investment company.
  • JetSet Global Fuel Inc. (JGFI) is a Florida-based, fully integrated, global provider of aviation fuel and related services. JGFI provides services at airports worldwide, offering its customers services for the supply, quality control, logistical support and price risk management of aviation fuel.
  • MS760 Corp. is a Florida-based company in the process of finalizing plans to offer MS760 sales, maintenance and training.

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