Fractional jet ownership can be an affordable way to own a private jet. Fractional Jet Ownership is sometimes referred to as Fractional Jet Leasing or Jet Time Sharing. The concept is also referred to as fractional ownership because it is not limited to jet aircraft
An individual person or company buys or leases a fractional share in an aircraft, this is similar to buying a timeshare. You buy a set number of days or hours each year that you can use that aircraft. Most fractional jet ownership programs allow you to use a similar jet
if the aircraft you have bought the fractional share in isn’t available at the time you request.You also pay an hourly fee for time spent in the air plus a monthly management fee that covers maintenance and administration.
The number of hours you can use the aircraft depends on the fractional ownership that you buy. Most fractional jet ownership programs allow some room for negotiation. As a rule a 1/4 fractional ownership gives you 200 hours a year, 1/8th would give you 100 hours, and 1/16 th would give you 50 hours.
Look for fractional jet ownership companies that have a fleet of aircraft with a reputation for long life and reasonable maintenance costs. The Falcon 50 and Falcon 900 are two such examples. Also companies that don’t sell less than 1/4 shares bring the cost down by limiting the number of users per jet and a resulting reduction in charter costs as well as a lower incidence of scheduling conflicts with fewer numbers of fractional owners.
The cost of your fractional jet ownership includes aircraft, crews, scheduling and maintenance. Prices vary but a 1/16th ownership of a Citation Ultra may cost approx $80,000.. NetJets have 14 different types of jet in their fleet including a Gulfstream 550 that’s capable of doing Trans Atlantic flights and they guarantee that your chosen or similar jet will be delivered to you with 4 hours notice. .
Fractional jet ownership company Flight Options have a referral program, introduce a fractional owner and earn $10,000 flight time credit. Flight Options have an hourly rate based on the distance flown giving you more air time. Owners can use 80% to 120% of the share hours bought each year and pay only pay management fees on the hours used. You have a choice of the Flexible-Use Option or the Traditional Pricing Option. Flight Options allow you to purchase up to 1/2 fractional ownership giving you 400 hours a year.
A cost effective alternative to fractional jet ownership is Blue Star Jet’s Sky Card service. You don’t pay a monthly management fee and Blue Star have access to over 4,000 jets worldwide. A jet is always available and you don’t have to contend with co-owners, plus There is no contract commitment. You also get a personal concierge to assist with travel, dining and entertainment needs.
Many factors have to be taken into consideration before deciding on weather or not to opt for fractional jet ownership, chartering a private jet or purchasing your own private jet. In some cases buying a jet can work out to be a less expensive option in the long run especially if you spend a lot of time travelling by air. With fractional jet ownership you are paying for the hours spent in the air as well as the initial cost of fractional ownership plus monthly maintenance fees.