A lot of people dream about owning and traveling by private jet. Getting to the point of owning one looks like a complicated and expensive path to take. What if we tell you that it’s possible to share a private jet and get that luxury, comfort, and flexibility while traveling, that you have always dreamed about? In this beginner’s guide, we will explain to you how fractional ownership works, and it may help you decide if this is the right option for you.
What Is Fractional Ownership?
Fractional ownership is a concept where a certain number of people or companies own a private jet jointly. They buy only a certain percentage of the aircraft and use the aircraft according to their investment. This concept is very popular among business professionals and individuals who have a high net worth. They usually agree to this option when they do not want the costs and responsibilities that are associated with full jet ownership, but are the ones who travel frequently.
How Does It Work?
After you invest your share in fractional ownership, you will get a contract to sign, which specifies how many hours exactly you will be able to use the private jet. Depending on how much you invested, you can get from 50 to 400 flights. This refers to a period of one year. Fractional ownership programs usually offer a five-year contract and after that, you can choose if you want to renew your contract or sell your share. There is a site for Spanish speaking readers that offers a lot of different programs for fractional ownership and where you can choose the best option. The jet operator is the one who is in charge of management. Owners do not have to worry about staffing, storage, maintenance, or flight planning. It’s all on the jet operator. The costs that are involved for you are initial share purchase, operating costs, as well as covers for hangar storage, operational management, and maintenance. You are also able to choose between a smaller jet or a larger one, according to your needs in a moment.
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Advantages of Fractional Ownership
- You can choose different types of aircraft based on your travel needs.
- This option significantly reduces expenses and is a way cheaper option than having full ownership.
- Jets are quickly ready to use, within a few hours after booking.
- Professional management, where you do not have to worry about logistics.
What Is the Difference?
You will find a lot of people comparing fractional ownership with leasing or charter flights because, usually, most of them do not know the difference. The difference is that fractional ownership is an ideal option for frequent travelers who want equity in a jet, while charter flights are best for occasional travelers who do not want long-term commitments.
Private jet leasing is an option for those who do not want to purchase but want access to an exclusive jet for an extended period.
If you are a person who looks for a personalized flying experience that combines luxury and convenience while trying to lower your costs, this might be the best solution for you! It allows you to enjoy all the benefits of private aviation with a small amount of responsibility!
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