Wouldn't it be nice to have access to a private jet for either business or personal travel? While this would be an exceptional way to travel and would also save a lot of money on commercial flights, purchasing a private jet can also be expensive. However, the alternative to sole ownership is fractional jet ownership, and it could alleviate your problems.
This simply means that you would be purchasing or leasing an interest in an aircraft that would also be owned or leased by other individuals. Each of the individuals involved purchase or lease the rights to use the jet for a specific amount of hours per year, depending on the negotiated deal.
Concomitantly, another option for a fractional jet ownership is buying or leasing 1/16th of the interest in the aircraft. Here, the buyer or lessee can use the private jet for about fifty hours per year. Some also opt for 1/4th interest that includes 200 hours.
Once a deal is closed, the buyer or lessee is then authorized to use the aircraft and the crew. However, each deal differs from one another, depending on the people using the aircraft, the value of time, and the amount saved in hotels and airline tickets.
Aircraft experts use certain guidelines for buyers/lessees to consider. For travelers who fly more than 400 hours a year, operating your own craft is suitable. But for those who fly from 101 hours to 399 hours a year, the fractional jet leasing option can be just right. Before buying or leasing shares of luxury private jets, it is very important to understand the advantages and benefits of doing so.
There are a lot of reasons why people opt to consider fractional jet ownership, the most popular of which are the cost and the convenience. Careful studies have shown that business jets are generally a lot more cost effective compared to commercial flights.
The studies concluded that using a business aircraft saves about four hours of travel time or eight hours of productive time every trip. Additionally, a business aircraft helps to save on hotel bills, as well as overnight time away from home.
Having a fractional jet ownership in an aircraft can be a practical way of traveling, whether you are a frequent business flyer or if you are constantly jet setting around the globe. The cost of traveling on a commercial airline can add up throughout the year and the cost of being the sole owner of a jet aircraft can also be extremely expensive. If you are looking to own a jet for either personal or business purposes, then choosing jet travel through partial ownership may just be the most economical and beneficial answer.