Private Jet Ownership
Fractional jet ownership involves time-sharing private aircrafts through a specific fractional jet company. This type of program has been going on for over twenty years and is a more affordable way to enjoy private air travel.
Private individuals and business professional that travel frequently throughout the year are the target markets that utilize fractional jet ownership. Most companies will guarantee an aircraft regardless if it has been previously booked by another owner: making this an attractive reason to engage in aircraft fractional ownership.
The costs vary with the type of private jet needed. Expect to pay several hundred thousand dollars to become a fractional jet owner (compared to a few million dollars needed to own a private jet wholly). Maintenance costs are several thousands of dollars a month depending on the type of aircraft as well as the percentage owned. These costs are split among all owners of the aircraft.
The amount of time each owner gets to use the aircraft depends on the fraction he or she owns. Those who own more can use the jet more often as well as receive shorter call-out times. A few companies allow these members to up-grade to another aircraft if they need it for a specific occasion. The average fractional jet owner buys between 1/16 and 1/8 of the aircraft, allowing 50 to 100 hours of flight time respectively. Owners are charged an hourly fee for the time the plane is occupied.
Owners are not charged for “dead leg” time, that is, the time it takes the plane to reach the destination as well as time it takes to return to the company fleet. Fuel costs is included the time the plane is occupied by the fractional jet owner and can range from $350-$1000 an hour depending on the aircraft.
Fractional jet owners are allowed to sell back their share of the aircraft depending on the terms of their contract. Almost always the value is lost as the plane depreciates in worth just like an automobile. <br>Fractional jet ownership is great because it allows companies to have more control over their air journey and save money while traveling.