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The move comes as the CEO of the fractional aircraft operator said the company is ‘facing financial pressure.’

FLYING’s editor-in-chief counts down the top stories from 2023.

The new CPO business appears to be a continuation of Honda’s efforts to assist aircraft owners affected by the shutdown last month of Jet It.

After the fractional jet company ceased operations, its owners are now responsible for maintaining the airplanes.

Following the implosion of Jet It during the week of May 22, Honda Aircraft Company has stepped in to offer logistical and management support to those Jet It customers left in the lurch as the fractional operator ceased operations.

Jet It fractional owners have options when it comes to navigating the company’s shut down.

Jet It sent a letter to employees saying everyone is terminated, and the company is shutting down.

As the fractional business jet operator shuts down contracts, owners are now tasked with deciding what to do with their aircraft.

According to several sources that reached out to FLYING, Jet It has begun a significant round of furloughs, capping a rough weekend for the company in which it has also voluntarily grounded its fleet and paused operations.

The NTSB is investigating an accident involving a HondaJet that hydroplaned off a runway in South Carolina.