Benefits Of Fractional Jet Ownership
Are you tired of the long lines at airports? Fed up with the airport losing your luggage after a long flight? Sick of listening to a screaming child in coach after spending thousands of dollars on a first class ticket?
Then fractional jet ownership may be the ticket you need for a hassle free air travel experience! Fractional jet ownership involves purchasing a portion of a private jet that is shared by you and other owners. The cost is dependent on the type of aircraft you would like as well as the type of contract you want. Some carriers allow fractional jet members to upgrade or downgrade their plane depending on their needs.
The greater percentage of the aircraft you own, the more benefits you receive. Members who own 1/4 of the aircraft or more typically have shorter call-out time (the time needed to arrange an aircraft to pick-up a member) as well as a greater number of up-grades available depending on their flight needs. Fractional jet owners who own less than 1/4 still receive the benefit of private air travel, but have fewer amenities (such as the shorter call-out time).
The amount of time a fractional jet owner can expect to use an aircraft depends entirely on the percentage he or she owns. The average individual or business owns 1/16 to 1/8 of a private jet and can expect to use the jet between 50 to 100 hours annually. Fractional jet owners are usually not charged for the time it takes the plane to reach the owner’s destination or the time it takes to leave the departure point and return back to base.
However, fractional aircraft owners are charged hourly for fuel costs as well as a monthly maintenance fee. Fuel costs varies depending on the oil market but can be anywhere from $350 to $800 an hour. Monthly maintenance fees rely on the type of aircraft contracted and are several thousand dollars a month. Fractional jet ownership is worth it to many businesses and individuals who like the idea of having a flight arranged whenever and whatever time they need. The time fractional aircraft ownership saves offsets the costs in the long run especially when compared to owing a private jet.