Did you know that private jets are available for purchase in a timeshare-like arrangement? It’s called fractional ownership. Fractional ownership of a private jet is now affordable even for small businesses and the upper middle class. The most well-known providers are NetJets, Flexjet, CitationShares, Flight Options, and Airsprint. NetJets is generally considered to be the leader of the pack.
A five-year ownership agreement is required for fractional ownership in most private jets. A one-sixteenth fractional share (about fifty hours of flying time per annum) runs from US$400,000 and up.
If you like to travel, fractional shares can save you money in many ways, believe it or not. In addition it can save you a lot of time, since flight times are shorter and there’s no need to wait in line. To add to the convenience, private jets can land at many, many more airports than commercial flights, meaning that wherever you land is probably going to be not only closer to your final destination (reducing your ground transportation time) but less crowded as well. And since private jets don’t have to follow rigid commercial schedules, you can arrange your trip more efficiently to eliminate unnecessary overnight stays and thus save money on hotel bills.
Nevertheless, there are hidden costs. Fractional ownership requires the payment of steep monthly fees along with fuel charges, among other things. Accordingly, don’t expect fractional ownership to directly save you money. But think about this – the comfort, convenience, and efficiency of a private jet will provide you with a host of indirect economic benefits – since you can avoid delaying or canceling meetings, and you can arrive in at the top of your game in terms of physical and mental condition, you will be more effective in business endeavors such as negotiation, etc.
Don’t forget that fractional jet ownership is also a considerable investment, since an interest in a private jet can be bought and sold.
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