It’s a question that many ponder as they consistently take to the skies for business travel. Fractional ownership offers a high-value alternative to the ownership of an aircraft.
With fractional ownership you can enjoy all the advantages of whole aircraft ownership, but without the management responsibilities. However, there are other details that need considering. Jet cards and private charters are other options when choosing to fly via private jet. Is fractional ownership right for you? Here’s a look at the history of it and a few characteristics shared by those who prefer it.
Three Decades of Jet Sharing
The business of “jet sharing” started in the 1980s. It came about as more businessmen demanded business aircraft and agreed to share the cost. Jet sharing evolved into the official name of fractional ownership.
Fractional ownership is designed for the traveler who flies more than 50 hours per year. You can start with a share sizes start at 50 annual flight hours. Then, it can be increased in 25-hour increments. The type of aircraft is totally up to you. Various contracts offer minimum commitment starting at two years. A fractional plane’s time share is typically based on 800 hours a year. The smallest fraction is typically 1/16th equivalent to 50 flying hours per year. The initial costs range depending on the type of aircraft requested for the fractional ownership agreement.
Here are a few fractional ownership facts to consider if you are asking yourself this question: “Is fractional ownership for me?”
Fractional ownership may be for you, if you:
- Use Private Aircraft Often
Owning an airplane or simply part of it makes financial sense when comparted to charter or jet cards. You won’t need to concern yourself with empty leg fees or positioning fees for one-way flights.
- Want Consistent Service and Access
A high level of customer service is part of the package when signing onto a fractional program. As an owner, you have to have access to the aircraft when you need it. We guarantee contractually that your aircraft type will be available within 10 hours of your request. If your aircraft is ever unavailable, you’ll be upgraded at no cost.
- Prefer One Type of Aircraft
Sometimes, a client will consistently prefer a mid-size aircraft or any particular type of jet. When the preference is just for one type or model, fractional programs make the most sense. Interchange options are still available on a per-flight basis.
- Want Ownership without the Headaches
Fractional ownership means administrative and operational responsibilities are left to the program managers. The fixed costs associated with fractional ownership also means you can accurately budget for maintenance, technical problems, crewing and training with other owners.
Those are the upsides to fractional ownership of an aircraft to consider. Also, be sure to check out our blog post that takes a look at the downside, and why fractional jet ownership may not be for you.
Whatever path you choose, ensuring the right private jet service is a wise investment in time. As commercial airline travel gets more complicated, that time can be priceless.