Partial Jet Ownership Information
Commercial air travel can leave you feeling drained. That screaming baby in coach, mediocre food, and an in-flight media selection that hasn’t been updated since Bruce Willis starred in Armageddon. Why not enjoy your flight with fractional jet ownership and have a better business meeting because of it? Fractional jet ownership can get you to your destination without investing millions of dollars in conventional private aircrafts.
Fractional jet ownership is just as it sounds: owning a fraction of a private jet that is shared with other parties. Essentially it is jet time-sharing, however, some companies will provide a jet regardless if another owner has previously booked the aircraft. The percentage owned of the aircraft determines the amount of use each fractional jet owner is allotted.
For example, a person who owns 1/8 of the aircraft will have extended use versus a person who only owns 1/16 of the aircraft. If you own a greater fraction of the jet, then you also get more benefits as well such as a shorter call-out time. Some companies guarantee a four-hour call out time to fractional jet members who own 1/4 or more of the aircraft. Other benefits include an up-graded plane if it is needed for a specific event. However, most companies secure fractional jet owners into a specified aircraft.
The cost of fractional jet ownership depends exclusively on the type of aircraft you’re looking at purchasing. Smaller jets do not cost as much as the larger ones, but they hold less people and less luggage. It’s best to assess your current as well as your future business needs when selecting the type of aircraft you may need. Make sure to take into account maintenance costs as well.
Fractional jet owners split the monthly maintenance cost (again depending on the percentage they own), but it can still be several thousands of dollars per month. Fuel costs is another issue that should be taken into consideration. The cost fluctuates with the current world market cost of oil, so fuel cost cannot be guaranteed.
Fractional jet owners are typically not charged for flights to the pick-up points or flights back to base. Owners are charged an “occupied hourly fee,” which includes air-taxi time. Fractional jet ownership is a great idea for those who like the convenience of private travel, but don’t like the idea of spending millions of dollars on a private plane that may spend most of it’s time acculumating dust in an airport hanger.