Behold The Power Of Fractional Jet Ownership
If you’ve ever owned a portion of real estate, or even a share, then you’ll understand the concept behind fractional jet ownership. This means that you’re paying for partial ownership of a plane, and therefore are entitled to a part of time that you specify in any aircraft. You can own anywhere from 50-400 hours every single year, depending on how much you pay. There is a major difference between renting a home fractionally and renting a jet fractionally however.
Imagine “your” plane flying all over the world to pick you up. It wouldn’t be very economical, would it? Airline companies wouldn’t make any money if they left your jet empty, waiting in the tarmac, which means it would cost you more in the end. This is why companies that have these types of programs typically bring you the closest airline, and at the end of your program’s specific terms, (typically five years) you sell your shares back to the airline, depending on the market price at any time.
Variety of Planes Available
If you’re thinking about renting a portion of an aircraft, there are a wide variety to choose from; light jets, heavy jets, and even some turboprops and helicopters- depending on which variety you desire.e Typically speaking, the most important aspects to decide in these programs are which jets are right for you, what your needs are, and how far you need to go. In the simplest terms possible, the larger the plane you purchase, the farther you can go, so your prices will undoubtedly be higher.
Understanding Fractional Shares
Typically speaking, the operating time that you purchase is based on a standard of 800 hours per year, which means that the aircraft will be in the air for approximately 800 hours in that specific year. You can buy anywhere from 1/16th of a share- which is about 50 flying hours each year.
Various other varieties of fractional shares are:
- 1/8 = 100 hours of flight time
- 1/4= 200 hours of flight time
- 1/2= 400 hours of flight time
Obviously the most important thing to think about is whether the program is right for you. Imagine how much you fly per year. If you need to fly privately about 50 hours every year, then it would make sense in the most basic program. Generally speaking, you have to consider various types of aircraft, so if you don’t like groups, long or short trips, you might not want to purchase a share. If you have a fractional share, sometimes you can spend your time on smaller planes- it just depends what the fleet has.
When you purchase these shares, you’re settling into a 5 year contract, which means that if your travel plans might change, you might want to think about higher hour contracts. Sometimes, there are shorter terms available, but you have to consider additional costs.
Documentation, Rental Agreements As Well as Alternatives to Consider
-Binder and Deposits
-Dry Lease Exchange Agreements
-Aircraft Leasing Options
-“Jet Cards” even Fractional Cards
-Aircraft Chartering Options
-Various other Charter Cards
-Air Taxi Services