We learned at a very early age that isn’t nice to share- private jets are just a bigger toy to share! Fractional ownership allows each individual owner to have the benefit of having their own private jet, yet at a fraction of the upfront price and ongoing maintenance bills.
There are businesses you can give your time, of which will find other possible share holders in a private jet you have interest in. Once a good amount of shareholders are arranged, you can start determining what type of sharing model should be implemented. The two most popular are the calendar model and the time model. Under the calendar model, you get certain dates out of the year to use the plane. Under the time model, you get a set amount of hours at any time.
Fractional ownership demands that you sign a contract for a set amount of time, which acts as your lease. It’s average to sign on for five years. After the period is up, you can sell your share of the plane to another or back to the company that arranged the fractional ownership. Fees may apply, but otherwise you should get fair market value.
Depending on what company you do business with, you may have access to one jet or a variety of jets. If your fractional agreement was centered around a single jet, you will have a loss in flexibility. Sometimes you need a different type of jet to fly to a distant area or land in a specific runway. If possible, get access to a contract that allows multiple jets.
In some cases you might not be saving money by picking a fractional ownership model. It would be cheaper than buying the jet, but compared to other options it may not be the most spendthrift. Ask a jet chartering service if they have other forms of ownership, such as one-time usage rates or discount rates for repeat business. If so, compare all plans to see which is best.
Overall, paying more money for having a private jet is a great idea. You get to bypass long airport delays, have access to greater security, and you are able to enjoy five-star service while on the trip. The only obvious drawback would be the cost and flexibility of schedules. If these two aspects aren’t a huge factor, obtaining fractional ownership is a great method of getting a private jet.
Closing Comments
Private jets are the symbol of luxury. Knowing you have a private jet at your command is an amazing feeling, as you know you can go virtually anywhere at almost any time of the day or night. Start calling around to see who has a good deal for the budget you had in mind.
Learn more on Jet Charter Airports in the District of Columbia and Jet Charter Airports.
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