Fractional jet ownership is a popular option for people who want access to private air travel on demand. Like on-demand ground transportation, fractional ownership can be more cost effective for you if you prefer to fly private. Cost is one advantage, but fractional jet owners also enjoy flexibility of schedule, high quality travel service, and greater security and privacy.
Fractional ownership works by letting people and/or businesses share the costs of buying, leasing, operating, and maintaining a private jet. In some cases, you might be buying into a fleet of jets. You can agree to buy, for example, one eighth or one quarter of a plane. Depending on the agreement, you then pay an ongoing fee to cover operational and maintenance costs, along with an hourly cost to cover each hour you fly.
One of the most significant advantages of fractional ownership is cost effectiveness. For a small aircraft costing $600,000, you could put down just $40,000 for a one-eight stake and pay an ongoing monthly fee in addition to any hourly rates for flight time incurred. This means you can have access to a private jet at a fraction of the cost of full ownership.
The cost effectiveness of fractional ownership makes sense for anyone or any business not using private jet travel services on an everyday basis. It’s a more efficient way to own a private jet because you’re not buying a jet only to use it 15% or 20% of the time.
While you have the flexibility of access at any time, you pay a flat ongoing fee plus an hourly rate rather than for full ownership. You’re paying for what you use, and the private plane is being used more efficiently, as opposed to sitting unused in a hangar much of the time.
Having your own private jet or fleet of jets on call enables you to travel when you want. This might be important because of business needs or personal preference. Whether you’re travelling for personal or business reasons, you can dictate everything from schedule and destination to your travel companions and stopovers.
And because the shared ownership company has full responsibility for managing flights, legal compliance, and maintaining the craft, you’re saved from the hassle of extra administration time and effort.
Buying the latest model aircraft might be out of reach if you were buying by yourself, but with a fractional ownership arrangement, you might be able to afford a brand new aircraft with the design and fittings you’re looking for. Since the cost is shared among all the fractional owners, you’re paying less for a newer or brand new plane.
Private jet travel could save you from having to pass through standard commercial terminals with other passengers. In addition, you can travel with a crew you know and with passengers you choose to travel with. Because you’re not sharing the plane with anyone else, you’ll enjoy more privacy and possibly better security.
If you’ve travelled on a commercial airline before, you might have experienced lost luggage, poor service, delayed flights, and other quality issues. As a fractional owner of a private jet, you have control over the service standards. This means you’ll likely enjoy better consistency and reliability for your business and personal travel requirements.
Fractional ownership of a private jet enables you to travel flexibly. Whether you’re a business or individual, you can determine your own itinerary, make the stopovers you need to make, and travel when and where you like without adhering to an airline’s flight program of times and destinations. You can scale up or down the hours you need to travel from week to week, and travel at short notice without having to book days or even weeks ahead for peak travel periods. You might be able to book your flights just hours in advance.
Private jet travel can afford businesses and individual significant time savings. Because you’re not passing through commercial passenger terminals, you might be able to enter and leave airports quickly. Additionally, you might be able to choose your preferred airports for travel and save time by selecting an airport closer to you.
If you’re travelling with clients, having access to your own private jet can allow you to make a strong impression. The prestige associated with private jet travel can boost your business reputation, ensuring clients have a positive association with your organisation.
If you’ve always wanted to own a private jet, consider a fractional ownership arrangement. Along with cost efficiencies, you’ll enjoy convenience, flexibility, and time savings. A private jet can also enhance your business reputation and allow you to enjoy higher service standards as you travel.