Jet Ownership Benefits
Thinking of private jet ownership? If so, consider your options before you the invest millions of dollars required to own one of these private aircrafts.
There are two popular types of jet ownership available to you if your in the market for a private jet: fractional and complete. With fractional jet ownership, you’re essentially sharing the cost and maintenance of a private jet with other owners. How much you pay as well as how much you can use the aircraft depends on how much of it you purchase. Individuals who own a greater percentage of the aircraft can expect to use it much more than a person who owns a lot less. The average percentage owned by each individual is 1/8 to 1/16 of the aircraft, however, this can be more if you’re willing to invest the funds. With 1/8 jet ownership you can expect to use the aircraft 100 hours annually (or 50 hours if you buy 1/16).
Expect to pay maintenance fees with fractional jet ownership that can be several thousand dollars a month as well as an “occupied fee” whenever you use the aircraft. This covers fuel and other costs associated with the flight. Fuel costs varies depending on the world market.
Fractional jet ownership typically locks an owner into a particular type of aircraft. Owners cannot up-grade (unless the contract provides they can) to a different aircraft and cannot book the aircraft when another owner has previously booked it. However, many large companies that provide fractional jet ownership will provide another private jet even if it has been previously booked (either by using another airplane from their fleet or chartering one from another company).
When you purchase a private aircraft wholly, you have the jet at your beck in call 24/7. All maintenance costs, fuel costs, etc. will be paid by you and you alone, but you don’t have to worry about the aircraft being booked by another owner and can expect a larger tax benefit. Complete jet ownership tells your clients and customers that you have taken the necessary responsibilities to maintain it. Not to mention the classy aura you’ll receive being associated with complete jet ownership.
Whichever option you choose, you can be sure you’ll save thousands of dollars in time alone with jet ownership.