Fred Reid, once the top pick to head Virgin America, is now president of Bombardier Flexjet and its affiliate, Skyjet U.S. Though he insists fractional jet ownership is "a better business model than any airline," he admits that the economic downturn is hurting the business. "Some people are exiting the private aviation fractional ownership or branded card solution to go to retail charter, which is less reliable and slightly less expensive," he says. "Some are going back to commercial."
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