Private Jet Ownership Help
Long lines at airports, lost luggage, and flight delays are some of the common reasons why business professionals choose to invest their money in private jet ownership. By owning a business jet, these individuals save much more than convenience and the time wasted at commercial airports.
When researching jet ownership note there are a few options to consider. Each option really depends on how much you expect to actually use the aircraft.
One option is fractional jet ownership (or fractional aircraft ownership), wherein a group of investors purchase an aircraft and split the usage between them. There are usually companies that moderate the process and ensure every owner is getting the proper amount of usage of the aircraft.
The percentage of the aircraft the person owns is entirely up to how much money they want to invest. Those who own more of the jet generally get more use as well as shorter call-out times. Most fractional jet ownership providers only charge an “occupied fee” and do not charge for the flight to the destination or the flight back to base after the owner has reached their destination. The owner is responsible for any fuel costs associated with their particular flight as well as the monthly maintenance cost paid by all owners.
If you choose to complete jet ownership without any shareholders, then you can expect to assume all costs yourself. All maintenance and fuel costs are associated with your checking account.
If you’re someone who frequently travels, especially to airports that are unable to accommodate commercial airports, then complete jet ownership may pay for itself. Having a plane at your disposal allows you to travel anytime and pretty much anywhere.
With both fractional jet ownership and complete jet ownership, you are eligible for certain government tax breaks. The type of private jet you choose will depend on the expense you pay.
Light jets typically cost $4 million dollars or more and can accommodate 7-8 passengers and 2 crewmembers. There’s another class of jets termed “very light jets,” which can hold 4-5 passengers and 1-2 crewmembers. These jets are about half the price of a typical private jet at around $1.5 million. These jets travel shorter distances and some do not have a lavatory on board (the argument being the average trip length is only 90 minutes).
Owning a private jet is serious decision to make. Consider your needs or the direction company is heading before you reach a conclusion and decide which type of jet ownership is perfect for you.