Buying Your Own Private Airplane With A Fractional Ownership
Published by Fred at October 27th, 2009The money required to buy a private jet, and keep it maintained, is massive. Only the wealthiest of individuals will be able to do so. For those who aren’t as wealthy, but do need a private jet, there is an option in fractional ownership. Essentially, you share the jet and cut the costs.
Your best bet in finding a fractional ownership opportunity is to find a jet chartering service that specializes in creating such relationships among clients. These businesses will already be skilled in formulating the rules and guidelines, will have contracts to sign, and are generally a professional way to go about obtaining jet ownership. Every business is different, so it would be a good idea to investigate a few of these types of businesses before signing a contract with any of your choices.
Similar to having a lease for an apartment, you will have a lease with the business arranging the fractional ownership. This is to keep all shareholders together so the price doesn’t fluctuate if someone drops out. The lease is generally moderately long, several years or more in length. It’s possible to sell your stake in the deal, but you will be subject to fees.
The contract you sign may allow you to have access to a single jet, or even the entire inventory of jets that a jet charter has. If you are going to be limited to a single jet, this is less fortunate since there could be instances where you may need a different make or model. Overall, access to a single jet isn’t superior than the alternative, but you still have your own jet to fly.
Know that if you are looking for a fractional agreement to save money, you might be paying more for such a service than other methods. Jet charter services today have dropped in cost, and are in direct competition with the timeshare model discussed. You are still liable for fuel charges, hourly and monthly rates, and so on if you choose a fractional model.
Private jet charters are a great alternative to the common commercial airliner. For some celebrities, it isn’t even a question as to whether or not to obtain a private jet, but a question of how and under what circumstances. Commercial airliners can be dangerous, have poor conditions, and getting through security can be tough. A private jet is the best option for those who can afford the price.
Final Thoughts
It doesn’t take long to get yourself and friends or family on a jet to your next vacation or business meeting. Start looking at the jet charters in your area and inquire about prices. In the end, you should be able to get a good deal even on an extremely modest budget.
Learn more about One Way Jet Charter Flights and Connecticut Jet Charter Airports.