Private jets are extremely expensive, even by the standards of the rich. You don’t have to own your own jet to use one, however. You can take part in what is called fractional ownership. In this ownership situation, you and a group of others will share the plane at a discounted cost.

There are businesses you can give your time, of which will find other possible share holders in a private jet you have interest in. Once a good amount of shareholders are arranged, you can start determining what type of sharing model should be implemented. The two most popular are the calendar model and the time model. Under the calendar model, you get certain dates out of the year to use the plane. Under the time model, you get a set amount of hours at any time.

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.

A business will either offer you a contract that offers you access to a variety of jets, or a single jet to be shared amongst others. If you are given access to the entire inventory of the jet charter, you will have better options in flying to discrete locations, picking a fuel efficient jet, or picking a jet with a wider range of travel. A single jet contract is more constricting.

In some cases you might not be saving money by picking a fractional ownership model. It would be cheaper than buying the jet, but compared to other options it may not be the most spendthrift. Ask a jet chartering service if they have other forms of ownership, such as one-time usage rates or discount rates for repeat business. If so, compare all plans to see which is best.

Your private jet, when purchased whole or fractionally, will be a great asset to you. Jet charters that run such services keep them in tip top shape, hire only the best personnel, and sometimes offer free catering. With the joint ownership you may not be able to have the jet when you need it in every situation, but for most of the plans you make you should be just fine in using your own jet.

Closing Comments

Private jets are the symbol of luxury. Knowing you have a private jet at your command is an amazing feeling, as you know you can go virtually anywhere at almost any time of the day or night. Start calling around to see who has a good deal for the budget you had in mind.

Learn more about Jet Charter Airports and Connecticut Jet Charter Airports.