From the Orlando Business Journal: A new aviation company plans to add more fleet and staff in the next few years after establishing itself in Volusia County’s city of Edgewater.
Father-and-son duo New River Aviation owner Michael Newberry and CEO Chad Newberry make up the leadership team that founded the company at Massey Ranch Airpark in late October. New River, which operates out of a 33,000-square-foot space, does leasing agreements on private jets that allow for partial ownership of the planes.
“I have always loved aviation, yet spent much of my working life in management roles in the corporate world, providing for my family and building my career,” Michael Newberry said in a prepared statement. “Merging that experience with my passion is a lifetime dream come true, and being able to share it with my son is icing on the cake.”
The company’s “dry lease” rate — meaning for the use of an aircraft without a crew — is between $1,000-$1,400 per hour, which varies depending on how many block hours a customer purchases. That model allows for the rental of planes as well as for someone to have access to a plane that may not have the funds to cover costs like maintenance and hangar space.
Currently, the company has seven employees, Chad Newberry told Orlando Business Journal. In the next two years, the company wants to hire another five to 10 employees, including for sales, dispatch and marketing. In the short term, the company plans to hire some captains and pilots.
The company currently has a pair of Cessna Citation 550 series planes…..
Read the rest of the article by Ryan Lynch at the Orlando Business Journal!