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Fractional jet ownership provides the benefits of flying private, while also saving on costs like annual maintenance fees and aircraft owner association memberships. But what does private jet fractional ownership entail? And what are the costs?
When it comes to owning private jets, there is no one-size-fits-all. The right choice for you will depend on your budget, personal flying habits, and perks that matter most to you. For private jet access–but less investment–fractional ownership of a private jet can be a great option.
What does fractional jet ownership mean?
Fractional jet ownership is a way to own a share of an aircraft, rather than assuming all the costs yourself. You often purchase fractional jet ownership from jet chartering companies as “shares” which then equals how often you can use the jet. The more shares you purchase, the more you “own” the jet, and the more frequently you can use it.
Owners of fractional shares can schedule specific flights for their travel needs, or they can use them when available on the open market with the chartering company they purchase from.
Fractional owners pay periodic maintenance fees that cover fuel costs, maintenance, and crew salaries.
Fractional jet ownership costs
The cost of fractional jet ownership depends on a number of factors, including aircraft type, hours flown and the number of people in your party. The frequency with which the aircraft is used, how many legs are flown in one trip, and the length of time you’re traveling all affect how much it’ll cost to fly privately.
Fractional jet owners pay an annual fixed fee based on their aircraft agreement. This covers things like maintenance costs, insurance coverage, and other expenses associated with owning a private plane. If you plan on making several trips per year—or even multiple trips in one month—you’ll be able to save money by purchasing additional hours for each leg (as opposed to paying for each leg separately).
Fractional jet ownership may have a high initial cost, but can be a good option for frequent flyers who want to enjoy the benefits of private travel without having to pay for it outright.
Fractional jets can also make great investments, and some fractional owners participate in programs that allow them to sell their shares when they don’t need them, which can provide extra income.
Why would someone have private jet fractional ownership?
If you fly frequently, fractional jet ownership can be a good option for you. You’ll have access to private jets when you need them and won’t have to worry about the cost of chartering a plane every time–or all the costs of owning a private jet.
If you don’t want to own a jet, private jet fractional ownership is a great alternative that allows access to an aircraft. It’s much like putting your money in an investment account: the costs are covered by others and there’s no risk involved if something goes wrong with the plane.
Finally, for those who want more than just basic transportation but prefer not to go all-in on their aviation goals, fractional jet ownership is an ideal opportunity for those who want luxury travel but still want flexibility when it comes time for their next trip.
What is fractional jet ownership vs. private jet chartering?
Fractional jet ownership is a way to share the costs of owning and operating an aircraft. It’s similar to apartment living: you own a part of your home, but you don’t have to worry about maintenance or repairs.
In return for sharing the costs, you can fly as often as you want because there are always other people taking care of the plane while it’s not in use by yourself. You also gain access to more destinations than chartering would allow because
Private jet chartering is different from fractional jet ownership because it allows an individual to rent a jet on a “as-needed” basis–not part ownership. When you charter an aircraft, you pay for its use from a company or individual by the hour, rather than buying into it like you would with fractional jets.
So while both offer access to private jets, factors like pricing and time will be very different between the two.
Fractional Jet Ownership & Charter Companies
There are many great fractional jet ownership and chartering companies to work with when you start flying private!
Flexjet is the world’s largest private jet charter company and one of the most trusted brands in the business. Flexjet has a fleet of over 100 jets, which means you’ll be able to find exactly what you’re looking for when it comes to aircraft type, size, layout and location.
Flexjet is owned by Bombardier Aerospace and offers many services including fractional ownership, charter flights, and customized programs for corporations or individuals that want to lease or own their own private jet.
FlexJet has the following aircraft among its fleet:
- Phenom 300
- Legacy 450
- Challenger 350
- Praetor 500
- Gulfstreams G650, G450, G750
- Fractional jet ownership
- Jet card
- Gulfstream G650 Access Programs
Netjets is a private jet company that offers fractional jet ownership. It’s owned by Berkshire Hathaway, who also own Geico, Dairy Queen, and Fruit of the Loom. Netjets was founded in 1964 and operates the largest private jet fleet in the world. They offer service across North America and Europe to over 500 airports worldwide.
Netjets fleet consists of Bombardiers, Cessnas and Embraers to its customers based on their needs. The company has its headquarters at Chicago O’Hare International Airport as well as offices in New York City and London Heathrow Airport.
The Netjets fleet consists of the following jets:
- Bombardier Global 7500
- Bombardier Global 6000
- Bombardier Global 5500
- Bombardier Challenger 650
- Bombardier Challenger 350
- Cessna Citation Longitude
- Cessna Citation XLS
- Cessna Citation Sovereign
- Cessna Citation Latitude
- Embraer Phenom 300/E
- Netjets Share
- Netjets Lease
- Corporate Angel Lease
- Netjets Card
Also read: Flexjets vs. Netjets Review
Wheels Up is a private jet charter company based in Chicago, Illinois. Their fleet consists of over 100 aircraft and they offer a variety of private jet charter options to their clients. Wheels Up also offers fractional ownership as a way to make owning a private jet more affordable for any individual or group.
During the fractional ownership process, you will own your share of an aircraft and pay an annual fee to Wheelsup while they provide all insurance coverage and pilot services.
Wheels Up have the following jets in their fleet:
- King Air 350i
- Citation Excel/XLS
- Citation X
- Flight sharing
- Charter flights
- Shuttle flights
- Wheels Down events
Conclusion: Get Support Flying Private
Fractional jet ownership is a great way to get a feel of what it’s like to own and fly privately. It’s a great opportunity to decide what you are looking for in a private jet as well as help save money…which you might want to use to purchase your own private jet some day.
Once you’ve decided on what you want and need from your aircraft, Southern Air Custom Interiors can help you take your ideas and turn them into reality from aircraft seating, flooring and carpet to even custom cabinetry.