We can’t all afford the lavish private jet with a mini bar and water bed in it. The good news is that you might be surprised if you may or not, thanks to the fractional ownership style of private jet purchases. It’s less money upfront, and a fully functional jet is still at one’s fingertips.
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.
Perhaps traveling via jet isn’t a long term solution for you: that’s fine too! There are plans in action that allow buyers to liquidate their share in a jet in order to get their invested money back into capital. Liquidating your stake in the jet will mean you will get a fair market value at the present time period- so you may actually get less than you have put into the operation.
Companies that can guarantee availability are the best to side with. Essentially, the company will find a different jet for you if the one you have ownership in is taken. Companies that do this will find either a jet that is on par with the one you have ownership in, or a better one. It’s like buying a coach ticket and flying first class- anything is possible!
Fees are still in need of being paid, just like they would if you owned the jet yourself. This would include staffing fees, fuel, and maintenance fees. The upside here is that you are splitting the costs with others. The downside is that you still have to outline a portion of your budget to the act of paying these fees. Consult the private jet charter about any and all fees before signing- you want to know what you are getting into.
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.
Final Thoughts
From here you should be looking at companies that can cater to your needs. Fractional ownership is still a relatively new idea, so not every private jet company will have this option. Just keep looking and don’t be afraid to go with a company outside your region.
Learn more about air charter purchasing guide and Lineage aircraft.