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How much does it cost for fractional jet ownership?
Initial capital fee, or acquisition cost, which varies based on the type of plane and the size of share you buy. A share in a light jet would start at about $350,000 for 1/16th in an older plane, expect to spend at least $650,000 for a share in a new jet.
How does NetJets fractional ownership work?
With NetJets fractional jet ownership, you purchase a portion, or Share, of a specific aircraft. And that Share equals a specific number of hours you can fly in that aircraft type—with the ability to upgrade or downgrade to any other jet in our fleet.
How long are most fractional aviation contracts?
Fractional aircraft agreement terms are typically five years in duration, sometimes giving the fractional owner a renewal option. Fractional aircraft management agreements can be found for a shorter term than five years, but they must be “multi-year” agreements to satisfy requirements of the FAA.
How does fractional ownership airplane work?
Fractional Aircraft is a common term for fractional ownership of aircraft where multiple owners share the costs of purchasing, leasing and operating the aircraft. With fractional jets, customers (referred to as “owners”) buy a “share” of an aircraft, rather than an entire aircraft.
How does fractional aircraft ownership work?
Fractional ownership involves purchasing a share—typically a multiple of 1/16th—that will afford an allotment of occupied hours of fractional aircraft use per year plus a nominal amount of taxi time. You will also be required to sign a multi-year aircraft management agreement.
What is the title of the required management person required for a fractional ownership aircraft program?
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What are the benefits of fractional plane ownership?
Fractional owners also do not have to pay a “deadhead cost” — that is, any costs incurred from positioning the aircraft to their departure point. As an added benefit, some fractional plane ownership programs offer owners the option to upgrade or downgrade the size of the aircraft depending on their trip requirements.
What does it mean to own a fractional jet?
With fractional aircraft ownership, you purchase a share of a specific aircraft type to be utilized for a defined number of annual allotted flight hours. Is fractional jet ownership the same thing as a timeshare?
Is fractional ownership a good option for private fliers?
Still, fractional ownership remains a preferred solution for many private fliers and offers a wide variety of options from turboprops and light jets to ultra-long-range aircraft from Bombardier and Gulfstream. In the fractional model, the fractional company sells shares in multiple aircraft to various buyers.
Typical Fractional Aircraft Share Sizes and Flight Hours Annual Flight Hours Share of Aircraft Purchased or Leased 50 hours 1/16 100 hours 1/8 200 hours 1/4 400 hours 1/2