We learned at a very early age that isn't nice to share- private jets are just a bigger toy to share! Fractional ownership allows each individual owner to have the benefit of having their own private jet, yet at a fraction of the upfront price and ongoing maintenance bills.
The easiest way to share ownership of a private jet is to go to a company that specializes in the opportunity. You will find the business model to be much like a timeshare for a real estate property. A business that does these type of deals will also offer easy options in relinquishing your share in the contract, should you need to do so. When using a business to do the work, you can also work a deal into the contract where you can have access to more than one private jet in the hangar.
You obtain a lease once you decide to go through with a fractional ownership plan for a private jet. The lease can be determined by the parties involved, but is often done through the provider. It is average to have a lease of five years or so. After the period is up, shareholders are allowed to sell off their share in the private jet or continue with another contract.
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.
Overall, paying more money for having a private jet is a great idea. You get to bypass long airport delays, have access to greater security, and you are able to enjoy five-star service while on the trip. The only obvious drawback would be the cost and flexibility of schedules. If these two aspects aren't a huge factor, obtaining fractional ownership is a great method of getting a private jet.
Final Thoughts
You can have your own private jet up and running with little paperwork. So long as you are sure you have the funds, and are doing business with a reputable private jet consulting service, the process should be streamlines, fast, and even enjoyable.
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