Having access to a private jet used to be something often reserved for a small and select number of people. Thanks to the creation of fractional jet ownership schemes, it is not just high net-worth individuals that have this travel option available to them.
If you are a business executive, or a frequent traveler, the attraction of private jet travel is clear to see. It offers unmatched efficiency and convenience, plus a touch of luxury. However, owning an entire jet comes with significant financial and operational responsibilities.
This is why finding the best fractional jet program available is such a smart move. Fractional ownership allows you to purchase a share of a private jet, granting access to private aviation without the full burden of outright ownership.
Although the attraction of this type of scheme is obvious, you need to weigh up the various pros and cons of fractional jet ownership to decide if it’s the right choice for you.
A Look at the Pros of Fractional Jet Ownership
One of the primary benefits of fractional jet ownership is the cost savings you can achieve in comparison to full ownership.
It goes without saying that owning a private jet outright can be an expensive endeavor, with costs that don’t just include the purchase price. There is also maintenance, insurance, crew salaries, and hangar fees to be paid as part of the full ownership experience.
Fractional ownership significantly reduces these expenses by allowing multiple owners to share the costs. Instead of paying tens of millions for a jet, you can become a fractional owner by investing in a percentage of an aircraft. This is typically an arrangement where you acquire somewhere up to half ownership rights, depending on your usage needs.
Spreading the cost across multiple owners makes private aviation far more accessible.
Enjoy Guaranteed Access to a Fleet of Jets
Arguably, one of the biggest advantages of fractional ownership is having guaranteed access to a private jet when needed. Unlike charter services, which may have availability issues, or full ownership, which ties you to a single aircraft, fractional ownership gives you the flexibility to have the use of a fleet of jets based on your schedule and requirements.
Depending on the fractional ownership scheme you subscribe to, you could have access to a suitable aircraft with minimal notice.
Benefit From Professional Management and Maintenance
Fractional jet ownership programs are operated and managed by established aviation companies with all the experience needed to handle all aspects of aircraft management, including maintenance, crew staffing, regulatory compliance, and logistics.
This means you would not have to worry about aircraft upkeep, which is a significant advantage over full ownership. This approach allows you to focus on enjoying your flights rather than dealing with operational complexities.
Predictable Costs and Simplified Billing
Most fractional jet ownership programs offer transparent pricing structures. You can budget with a degree of certainty when you have fixed monthly management fees and hourly flight rates.
It is also relevant to highlight the fact that fractional ownership eliminates the prospect of hidden fees often associated with on-demand charter services. This makes the financial aspect of private jet travel much more stress-free and manageable.
The Option to Customize your Experience
When you look at all the advantages it is clear to see that fractional jet ownership offers a more personalized and consistent experience compared to charters.
You have the ability to select preferred aircraft models, customize your flight preferences, and even potentially have dedicated crews. All of these options lead to a high level of service, comfort, and familiarity each time you travel, enhancing the overall private aviation experience.
What are Some of the Downsides of Fractional Jet Ownership?
Although fractional ownership is more affordable than full jet ownership, it still requires a substantial financial commitment. Purchasing a share in a jet usually requires a substantial investment, depending on the aircraft model and ownership percentage.
On top of that, you will be required to pay monthly management fees and hourly flight costs. If you travel infrequently you may find that chartering or using jet card programs offers better cost efficiency.
You should also take into account that although fractional programs guarantee access to jets, availability is subject to scheduling and peak travel periods. You could experience delays or limitations when booking flights on short notice, especially during holidays or high-demand seasons.
While flexibility is superior to commercial travel, it is not as seamless as owning a jet outright, where the aircraft is always at your disposal.
You also need to take depreciation and exit fees into account. In the same way as full jet ownership, fractional shares depreciate over time. When you decide to exit a fractional ownership program, selling the share may not be as straightforward as anticipated.
You need to be aware that there are often exit fees or contractual obligations that owners must fulfill before terminating their agreement.
Another potential downside to keep in mind is that fractional ownership means sharing an aircraft with other owners, which may lead to usage limitations. Each owner is allocated a certain number of flight hours per year based on their share size. If you exceed your allotted hours, additional fees may apply.
Is Fractional Jet Ownership Right for You?
The decision to invest in fractional jet ownership depends on due consideration of all of the points highlighted, as well as budget and personal preferences.
The bottom line is that if you fly between 50 and 400 hours annually and value guaranteed jet access, professional management, and cost-sharing benefits, fractional ownership can be an excellent alternative to full ownership. Not only that, but if you are a business executive who requires consistent, on-demand travel without the burden of full ownership, fractional ownership offers a perfect middle ground.
All things considered, fractional jet ownership can be seen as an attractive option if you need frequent access to private aviation without the hassle of full ownership. With benefits like lower costs, professional management, and fleet access, it can provide a seamless travel experience that can be good value for money.