Axis Jet provided the information we needed to understand which option would be better for us.
- Alan Hyman
Axis Jet was proud to assist Fremont Bank, one of the oldest locally owned and managed banks in the San Francisco Bay Area, in the acquisition of a King Air 350. As previous owners in a fractional program, this was the first 100% ownership of an airplane for the bank.
"The transition from partial ownership to 100% ownership is a quantum leap in aircraft ownership," said Fremont Vice Chairman Alan Hyman.
"Axis Jet provided the information we needed to understand which option would be better for us. The cost associated with 100% ownership can be complex and mysterious to the first time owner," Hyman said. "They did a great job working with us and explaining how cost are calculated and estimated when you're the sole owner."
Hyman explained that Axis was straight forward in explaining that cost are not predictable and that as 100% owner Fremont would be taking on cost risk not associated with partial ownership. "I think that was important because it set a foundation of credibility between Fremont Bank and Axis," Hyman said.
"On the other hand it also allowed us to see the advantages we would reap by being a 100% owner. Even though we have only owned the plane for a short while I can say that being a 100% owner is the way to go if you can afford it," Hyman stated. "Although partial ownership was working for us 100% ownership gives so much more flexibility and control. It's great."
In shopping for the plane, Axis professionals believe strongly in laying out the pluses and minuses of each potential purchase.
"As it ended up Matt guided us to getting the best value on the market given our budget," Hyman said. "I was happy that he was willing to wait for the right plane to come along and didn't rush the process."
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