Private jet charters have their need among those between celebrities and average folk. This would include medium business owners, for example. The problem is that they are much too expensive for normal means of buying, unless of course fractional ownership is investigated.
Private jet ownership done on a fractional level will mean that you are able to use the jet according to either a certain schedule, or via a certain amount of hours per period. If you are only flying about 50 hours each year, this is the better option as you aren’t paying for the overhead that comes with paying for the jet and all the maintenance required to keep it running smoothly.
Even if you need out of the ownership, there is usually a clause that states you are able to do so. A minimum commitment is required, but after this period, you are free to liquidate your share in the private jet charter. Whether you or the company handles it is the question of course. If the company handles it, doesn’t settle for anything less than fair market value if you are able to.
A managed private jet charter service will also setup a way to get a jet charter when the jet you paid for is tied up. When dividing the ownership between as many as ten people or more, you will likely have to find an alternate solution for emergencies. Ask your private jet charter service what they can offer for emergency flights.
Find out about all fees before signing the papers. This can’t be stressed enough, as there will still be periodic fees for the maintenance of the jet. The massive amount of money it takes to finance these operations will be considerably less since you only own a fraction of the jet, but be aware that there are still fees. Keep some room in your budget to pay them upfront after finding out the estimated costs.
Some private jet charters are edgy on what you can do with the jet. While some will allow you to take one for a joy ride on a moment’s notice, others require a fair warning unless it’s an emergency. Check with several companies and see which has the right lifestyle for what you plan on using your jet for. Also find a service that has clients, but not just any client! Make sure they have many happy clients as well.
Closing Comments
Finding a private jet charter that does fractional ownership isn’t always easy, since it’s a niche of an already targeted industry. Private jet companies will be glad to do the consulting for you if they don’t already have services set in stone, so long as you ask nicely.
Learn more on Lineage aircraft and Dornier aircraft.
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