Fractional Ownership vs buying a Private Jet

Private jet

There is no denying the comfort and the accessibility provided by a private jet. Air travel is something that most of us dread, however, something that is often essential. When you factor in the time at the check-in desk, the time spent waiting around at customs and immigration control, plus waiting for your bags and waiting for delays; it’s a nightmare that can sap hours from your working day or your holiday. Private jets can reduce that wasted time, making everything quicker, easier, and considerably more comfortable.

What are the Benefits of a Private Jet?

On average, private jets can land at ten times as many airports as commercial airliners. As a result, there’s no need to land at an airport that is miles away from your destination—no one wants to have to worry about taxis, trains, or car rentals after spending hours cramped into a tight, uncomfortable seat. With private jets, you don’t even need to worry about cramped seats because you have the entire plane to yourself. You can sit, lie down, and even go for a walk if you want to. It’s your plane so you can do whatever you want.

Furthermore, if you have a private jet, you can reduce the time spent on security and immigration, with the average wait being just 5 minutes. You have more privacy and more safety. Simply put, a private jet turns a situation that none of usare happy with into one that we all enjoy.

If you have the money and you fly over 250 hours a year, then a private jet is
something you need to consider.

If money is little tight and you’re wondering whether it’s worth stretching your budget that far just for the sake of comfort, speed, and accessibility, then there might be a better way: fractional ownership. It is not for everyone, however, if you travel about 25 hours a year, fractional ownership is feasible, and there are almost as many positives to fractional ownership as there are to owning a private jet outright.

What is Fractional Ownership?

As the name suggests, fractional ownership essentially allows you to purchase a share in a private jet. Fractional ownership first came onto the market in 1986 when it was announced by NetJets, who remain the dominant players in this industry. It allows you to pay a smaller fee while still getting many of the benefits. You can change your flight at the last minute, you can request specific catering preferences, and you can even apply for a different plane. Because while you may be purchasing 1/4, 1/8, or 1/16 of a private jet, you’re not actually buying a single jet and are just acquiring the benefits that come with it.

Bombardier Jet
Bombardier Jet

Honda’s advanced light jet, HondaJet, features several innovations that help it achieve far better fuel efficiency, larger cabin and luggage space and higher cruise speed than conventional aircraft in its class. The result of 20 years of aviation research, critical HondaJet innovations include a patented over-the-wing engine mount configuration, a natural-laminar flow (NLF) wing and fuselage nose, and an advanced all-composite fuselage structure.

Flexjet, another global player, will offer access to a private jet with just 10 hours notice. You can also avoid those long lines at security and can be in the air just a few minutes after you arrive at the airport. It’s all the privacy, speed, and accessibility that comes with owning a private jet, but you don’t own a private jet, and therein lies the problem.

If you can’t bear the wait or the restrictions imposed on commercial airlines and you’re happy to pay the extra fee, then it’s worth it.

With fractional ownership, you’re paying for a service, as opposed to any part of a private plane. The amount that you own will dictate how many hours you can spend in the air. Flexjet shares begin at 50 hours per year and increase from there, with the price you pay depending on the type of aircraft and service you want, as well as the amount of air miles you purchase.

Fractional Ownership vs. Your Own Private Jet

Fractional ownership is essentially a way of paying a lot of extra money to take a step beyond first-class. If you can’t bear the wait or the restrictions imposed on commercial airlines and you’re happy to pay the extra fee, then it’s worth it. You don’t own the jet or any part of it, but during those few hours that you spend in the air, it can feel like you do. You can benefit from quicker and easier air travel, and you can also enjoy all of the other benefits afforded to private jet owners, from catering to flying with pets.

If you have the extra money to pay for a private jet, there really is no comparison. With a private jet, you get complete control. You have the final say on everything and it’s your plane from the first flight to the last. No one will board it without your say so, and you can hire everyone from the pilot to the onboard staff.

Private Jet selection

In the very light Private Jet class, the HondaJet will outperform all other aircraft. It will get four people from New York to Miami in under 3 hours. Cost $4.5 million. The fuel cost per seat per nautical mile is a mere 20 cents.

The Bombardier Challenger 350 is the market leader in the Super Midsize Private Jet class. It takes ten passengers from London to New York in about 6.5 hours. Cost $25.9 million.

Bombardier Challenger Global 6000
Bombardier Challenger Global 6000

In the large private jet class, the Bombardier Global 6000 will allow for up to 13 passengers to travel with you. It was designed to enable you to conduct a business meeting and to get a good night’s sleep before you land. It can fly you from London to Aspen non-stop. A new Bombardier Global 6000 has a list price of $60 million.

Moreover, if you take away the initial cost of the jet, it’s also much cheaper to fly with your own jet. You’re saving a lot of money for every hour you spend in the air because you’re not paying for the privilege of renting a private plane. And because you own this aircraft, it will always be yours to sell, allowing you to recoup some of your investment.

Interior Bombardier Jet
Interior Bombardier Jet

If you fly many hundreds of hours a year, a private jet could pay for itself within a decade, while a fractional ownership scheme will forever eat into your bank balance. Money is usually no object in the luxury world of private jets, but in this case, it makes all the difference. In fact, it’s the only defining factor in the question of whether to opt for a fractional ownership scheme or your own private jet.

Photo Credit: Bombardier, HondaJet

Originally posted 2017-05-05 09:11:52.

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