Fractional aircraft ownership is a unique and flexible way for a person to fly on a regular basis. The owner has the option of borrowing some of the time of another year. Some providers allow carrying forward unused hours from the previous year, but this is not always possible. As a result, fractional ownership offers more flexibility than full ownership. An owner can match the aircraft to his or her needs and even take multiple trips at once.
One of the main benefits of fractional aircraft ownership is the convenience of owning an airplane without the hassles. A fractional aircraft is much more affordable than whole aircraft ownership. It does not require a high level of maintenance and is suitable for frequent travelers. Sporty’s management team has a lot of experience and can provide services like pilot services, scheduling, maintenance, and special requests during travel. This fee covers many indirect costs.
PlaneSense sells shares of its aircraft in fractions of 1/16 and provides 50 hours of flight time per year. The share size is adjustable and can be increased if required. The monthly management fee covers all maintenance and expert pilot training. The airline also offers hangar space for the aircraft. The benefits of fractional aircraft ownership are not only low maintenance costs, but also access to the plane. They can enjoy all the benefits of owning a full plane without the hassles.
Although fractional aircraft ownership companies is an excellent option for many, it has some drawbacks. Unlike full-fledged aircraft ownership, fractional planes require a five-year commitment. While there are shorter agreements, most allow you to cancel after three years. As far as costs go, they fall into four categories: light jet share, fractional aircraft ownership, jet cards, and new airplane shares. The price of a light-jet share starts at $350,000.
Owners of fractional aircraft do not necessarily need to have a license to fly. Rather, they can take advantage of training programs provided by the fractional-aircraft-ownership operator. Typically, owners will be able to upgrade their share to a larger plane at any time. However, they should ensure that their plan is financially sound and offers the maximum flexibility. A company that has a financial soundness guarantee and a sustained excellence in its operating program will be the ideal provider for fractional aircraft ownership.
In addition to these advantages, fractional aircraft ownership also provides several disadvantages. First, it does not offer tax benefits. Second, it has too many jet cards. This may affect the company’s sustainability. As a result, a fractional provider can’t sell too many jet cards. Instead, it must sell incremental hours. If a person can’t meet these requirements, he or she may be unable to fly for at least 50 hours per year.