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Flying by private jet offers a level of luxury and convenience that a commercial flight simply can’t provide. But what if you’re not willing to leap into such a large investment?
Fractional ownership of a private aircraft is a cost-effective solution that allows multiple owners to share the expenses and responsibilities of aircraft ownership. In other words, you’ll only pay a portion for ownership based on how often you want to fly.
While less expensive than full ownership, fractional jet ownership can still carry a significant price tag. All but the smallest ownership shares generally involve a cost in the six figures. Fractional ownership also means contributing to maintenance, crew, fuel costs, hangar fees, and other expenses.
For some flyers, using charter flights can provide a more cost-effective approach to private jet travel. This pay-as-you-go model can break down the significant upfront costs and avoid the ongoing required expenses of fractional jet ownership.
In this blog, we’ll explore the costs involved in buying a fraction of a private aircraft and what you can expect from this type of ownership experience.
What is Fractional Aircraft Ownership?
Before we jump into fractional jet costs, let’s take a closer look at what exactly it means to share ownership of a private jet.
Fractional aircraft ownership is a form of shared ownership where multiple individuals purchase a fraction of an aircraft. Each owner has exclusive use of the aircraft for a specified number of flight hours per year, with the remaining time made available for other owners to use. This arrangement provides access to private air travel at a lower cost than full ownership and eliminates the hassle of selling the aircraft when the owner no longer needs it.
The Benefits of Fractional Ownership
Fractional aircraft ownership offers a unique approach to private jet travel. Here are some of the reasons you might consider fractional ownership over complete ownership:
- Cost efficiency: By sharing the fractional plane ownership costs with another party, you can enjoy private jet travel without the economic burden.
- Flexibility: Fractional aircraft ownership means choosing the size of your share, allowing you to create a tailored ownership plan that works for you. Some fractional ownership programs also offer access to a fleet of different aircraft types. This means you have the flexibility to change planes based on your wants and needs.
- Convenience: With fractional ownership, you have the convenience to fly by private jet when you need to (based on the size of the share).
- Reduced responsibilities: Fractional ownership eliminates the need for owners to manage the day-to-day responsibilities of aircraft ownership, such as maintenance, flight scheduling, and crew management.
- Access to a variety of aircraft: Fractional ownership programs often provide access to a fleet of aircraft, allowing owners to choose the best aircraft for their specific travel needs: light jets, midsize jets, and large jets.
What is the Cost of Fractional Jet Ownership?
Private jet fractional ownership costs depend on several factors. The type of aircraft, the size of the fraction being purchased, the program structure, and the terms of the ownership arrangement all play a role in determining costs. On average, a one-sixteenth fraction of a mid-size private jet can cost anywhere from $100,000 to $400,000, while a one-eighth fraction can cost upwards of $800,000.
It’s important to keep in mind that these costs represent only a portion of the total costs associated with aircraft ownership. Other fractional ownership jet costs include maintenance, fuel, crew expenses, and hangar fees. Fractional ownership arrangements typically include these additional costs in a monthly fee, making budgeting for aircraft ownership easier.
What is the Best Fractional Jet Ownership Program?
Determining the “best” fractional jet ownership program depends on a variety of factors such as the type of aircraft, the frequency of use, budget, and personal preferences. These will all determine the experience you have, as well as influence the fractional private jet ownership cost. Some of the most popular fractional jet ownership programs include:
- NetJets: NetJets is the largest and most established fractional jet ownership program. In fact, in 2021, its fleet flew nearly 500,000 hours. NetJets offers a wide range of aircraft types and customized ownership options.
- Flexjet: Flexjet offers a variety of fractional ownership programs, including light, mid-size, and large cabin aircraft, as well as a leasing program for those who need more flexible arrangements.
- PlaneSense: a private jet ownership and management company that offers fractional ownership, jet card, and on-demand charter programs.
- Nicholas Air: Nicholas Air offers jet card membership and fractional ownership programs, as well as on-demand charter services, with access to a modern fleet of aircraft.
- AirShare: AirShare is a private aviation company that provides fractional ownership and on-demand charter services for customers throughout the United States.
Ultimately, the best fractional jet ownership program for you will depend on your specific needs, the aircraft type, your budget, and travel patterns. It’s recommended to carefully consider your priorities and to compare the different programs and aircraft offerings to find the best fit for you.
How Much Does NetJets Cost for 25 Hours?
The cost of a 25-hour program with NetJets, the largest private aviation company offering fractional ownership, can vary depending on the type of aircraft and the terms of the ownership agreement. On average, the cost of a 25-hour program with NetJets can range from $250,000 to $500,000 or more.
It’s important to note that this cost represents only a portion of the total cost of aircraft ownership, which also includes additional fees for maintenance, fuel, crew expenses, and other costs. NetJets offers a variety of aircraft ownership programs and it’s recommended to contact them directly for an accurate quote based on your specific needs and budget.
What is the FlexJet Fractional Ownership Cost?
The cost of FlexJet fractional ownership varies depending on several factors, including the type of aircraft, the duration of the ownership program, and the terms of the agreement. Flexjet offers fractional ownership programs for light, mid-size, and large cabin aircraft, and the cost of a program can range from a few hundred thousand dollars to several million dollars or more.
In addition to the upfront cost of the fractional ownership program, there are also ongoing expenses, such as maintenance, fuel, crew expenses, and other costs, which can add to the total cost of ownership. Flexjet offers several different fractional ownership programs; those with an interest in FlexJet should contact them directly for an accurate quote based on your specific needs and budget.
Is Fractional Jet Ownership Worth It?
Whether fractional jet ownership is worth it depends on a variety of factors, such as the frequency and type of travel, budget, and personal preferences.
For those who fly privately frequently by private jet, fractional jet ownership can provide several benefits, such as greater flexibility and control over travel arrangements, access to a wider range of aircraft types, and a more cost-effective alternative to full aircraft ownership.
Additionally, fractional jet ownership can provide significant time-saving benefits, as it eliminates the need to go through the hassle of commercial air travel.
However, fractional jet ownership also has some drawbacks, such as the upfront cost, which can be substantial, and the ongoing expenses, which can add up over time. Additionally, fractional jet ownership may not be a good fit for those who only travel occasionally or those who prefer the convenience and comfort of commercial air travel.
