The fractional ownership of an aircraft occurs when several owners share the private jet timeshare cost. This includes purchasing, leasing, and operating the vessel. Essentially, the owners purchase a share of the aircraft instead of having to fully pay for it on their own. Oftentimes the owners will have a certain amount of guaranteed hours of use available to them per year for their paid share.
Additional Ownership Costs
Although an owner may own a portion of the aircraft, there are a few other factors added into the private jet timeshare cost. This can include things like:
- Monthly maintenance fees
- Hourly operating fees
- Cleaning fees
- Remarketing fees (if the share is sold back after contract completion)
- Catering costs
Fractional Ownership Perks
There are a number of reasons why a person may consider becoming a fractional owner of an aircraft. Some of the perks can include:
- Access to an entire fleet of planes and jets
- The ability to sell the share back once the contract is over
- Ability to book a flight with only a few hours’ notice
However, some argue that hiring a private jet charter can be more cost efficient than partial ownership of an aircraft. Which is a better option depends largely on the needs of the client.