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Fast Air Ltd. has secured a new interim location and has announced plans to build a new executive aviation facility, designed with private jet owners in mind, in the vicinity of Vancouver, B.C., at Abbotsford International Airport (CYXX). Unique to the new facility is the offering of ‘fractional ownership,’ which provides a unique investment opportunity for aircraft owners. The planned facility will be approximately 30,000 square-feet and provides a VIP environment for business aviation travellers and can accommodate the latest large-cabin business jets.
The campus-styled project provides distinct facilities for fractional owners, such as an executive lobby, board room, private office space, and private ramp space for aircraft. The $7-8 million development, which will be managed by Fast Air, will provide the Vancouver Lower mainland area the newest business aviation facility in Western Canada. Special design attention will be given to minimal environmental impact, and this will be Canada’s first business aviation complex designed to accommodate both traditional and electrified business aircraft.
“Abbotsford International Airport offers low traffic congestion in the air and on the ground and lower operation costs. This is an exciting project for us as and we believe there is tremendous potential at CYXX for business aviation and executive air charter services. The demand for executive hangars and business aircraft is strong, even in the current environment. This type of facility will provide the level of services that businesses have come to expect. The project fits our areas of expertise as a manager of aircraft and facilities. We are pleased by the initial response from aircraft owners and support from the airport management,” said Dan Rutherford, manager of business development for Fast Air.
The facility is slated to begin construction in 2021, based on the response to the available fractional shares, and has already received considerable interest from flight departments exploring new options.
“This project will provide an exciting new link to Canada’s $12.1 billion business aviation sector and we anticipate accelerated growth as a result,” said Henry Braun, mayor of Abbotsford, which owns and operates the Abbotsford International Airport. “This project reflects the tremendous confidence Fast Air has in our community and the growing regional economy. The project will attract development to our city that builds value, creates jobs, and continues to drive economic growth.”