A Look at Fractional Jet Ownership
We've all experienced it - the commercial flight. After a mad dash to make it to the airport on time, including the hours allotted for getting through security, where you'll have to take off your shoes, empty your pockets, and prove that your laptop is not a bomb, you sit and wait for a couple hours before they decide to start boarding, and give you the privilege of sitting in the cramped seat that you paid a couple hundred dollars for.
The mega-rich have always had the option of private aircraft available to them. If you're Donald Trump, you can think nothing of equipping yourself with a Boeing 727 that costs probably close to $50 Million (not including the costs of pilots, flight attendants, support staff, insurance, fuel, maintenance, etc.). For others, however, the idea of a private jet has been outside the realm of possibility. An exciting concept in private aviation, however, is allowing private jet travel to make more sense for those who have seriously considered it as a possibility.
Fractional jet ownership is a fairly new concept. It is based on the idea that an individual can purchase a fraction of a plane, and pay management and operation fees to a company that will be responsible for safety, pilot training, hiring of crew, and all those other things that you don't want (or wouldn't know how) to deal with. Fractional ownership can substantially cut the costs of owning your own aircraft.
Fractional jet ownership is provided by a number of companies, including Cessna's CitationShares, Bombardier's Flexjet, and NetJets, the company that started the trend. As consumer interest in fractional jet ownership has increased, so has the competition between these companies. CitationShares and Flexjet are owned by aircraft manufacturers, their respective fleets composed mainly (if not entirely) of the planes they make. NetJets, on the other hand features a broader spectrum of aircraft, and is the industry leader. As such, that's who we'll be focusing on today.
It is true that the fractionals substantially cut the costs related to owning an aircraft. That's not to say that private jet ownership is for everyone, however. The primary target of the fractionals consists of those who have considered owning (or sharing) a jet, but found the arrangements too complicated or expensive to justify, as well as those who are used to first class air travel, but want to make a step up. The fractionals are also an attractive deal for mid-sized companies who need the convenience of a private aircraft without the premium price. According to NetJets's website, purchasing a 1/8 share in a Raytheon Hawker 400XP would set you back $793,750 plus a $10,582 monthly maintenance fee, and an hourly charge of $1,501. That 1/8 share works out to about 100 occupied hours per year. Yeah, it's expensive, but when you consider the price of seven first class tickets from New York to Miami, it suddenly becomes more reasonable. In fact, as a little experiment, I attempted to get the price on such a flight on very short notice. NetJets claims that your plane will be waiting on the tarmac within 6-12 hours notice. With a commercial carrier, I was unable to find a next-day flight, I was unable to find first class seating, and on one airline, I was informed that a return flight wouldn't be available until a week after the date I requested. If short notice flights are commonplace in your life, NetJets offers the solution.
Let's say, however, that you aren't interested in a small aircraft like the 400XP. What if you want something that can fly from New York to London non-stop? Well, just step into one of NetJets's large cabin aircraft. If you are lucky enough to afford these multi-million dollar jets, you will enjoy the highest degree of luxury. The Gulfstream 550, for example, is the latest and greatest in Gulfstream's line of long-haul private aircraft. Aboard, you will find a satellite telephone, video monitors, a DVD entertainment system, data ports, a fax machine, and whatever else you need to run your operations (or enjoy some well-deserved down time) at 30,000 ft. Naturally, the Gulfstream 550 also offers a full service galley, as well as a flight attendant for you and 13 others.
The final frontier in fractional ownership is the Boeing Business Jet (BBJ). If you've ever flown on Boeing's popular line of 737 airliners, you know how big the BBJ is. That's because the BBJ is actually a gutted 737, which is then outfitted with the latest in in-flight luxury. In fact, the BBJ is even available with a boardroom, bedrooms, and a shower. Yeah..... a shower. Nothing says success like the ability to roll out of bed, take a shower, eat a nice breakfast - all while you cut through the air at 528 mph. If the $50,000,000.00 price tag (full price) is a little disturbing, owning a fraction with NetJets can take a large chunk out of it.
Fractional shares start at 1/16 of a share, which can be as low as $369,875 in a Hawker 400XP. That's 50 hours of flying time. For those who don't want the commitment (or the cost) of buying a fraction, NetJets has implemented a lower-cost solution that they call the Marquis Jet Card. The Marquis Jet Card starts at $109,900 for 25 hours in a Cessna Citation V. With the Marquis Jet Card, required notice jumps up to 10 hours, which is still much better than anything the airlines can offer. The card offers the convenience of chartering an aircraft, with the peace of mind that you get from NetJets's safety standards. Other fractional carriers also have prepaid jet cards, so this is a [somewhat] affordable solution for those who don't want to deal with the monthly or upfront costs of ownership.
If you decide that fractional ownership is for you, be warned, you should thoroughly investigate the pilot training, safety procedures, aircraft, and management services that each company offers before making a decision. The big three, NetJets, CitationShares, and Flexjet, offer excellence in each, but some newer fractional start-ups may not be up to snuff. Remember that your security and safety is paramount, and if you feel that it's inadequate with a particular company, take your business elsewhere. If you're serious about making a fractional jet purchase, and live nearby to their operations, don't hesitate to ask for a tour of their aircraft and facilities, they should be more than happy to accommodate you. Many fractional operators hold regular events around the country in which prospective buyers can take a look around the aircraft and the service that they offer.
Fractional jet ownership offers the best of luxury, security, and functionality without the premium total ownership requires. If you've been considering buying or chartering private aircraft, fractional ownership just may be for you.
Jonas Elmerraji is the founder and editor of growFolio, the world's first free online investment and business magazine. Issues are available online at http://www.growfolio.com
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
NMU Aviation Maintenance program emphasizes importance of inspecting aircraft carriers - UpperMichigansSource.com
KSLA Salutes: Ageless Aviation Dream Foundation - KSLA News 12 Shreveport, Louisiana News Weather & Sports - KSLA-TV
New Airbus A-380 Beats Out 747
The A-380 has beat out the Boeing 747 as a target by International Terrorists. The A-380 will become the largest passenger jet in the world holding the largest number of passengers.
Several Facts to Obtaining Cheap Airfares
AirfaresNeed a vacation but dont want to stay around town? Want to go somewhere exotic, somewhere different? Want to fly but worried about the airfare? Sourcing the cheapest airfare available has been made easier with competition growing between travel agencies as people realize that a vacation need not be all that expensive. Airfare can be a hindrance to the best of vacation plans but it need not be.
Airbus to Build $600 Million Aircraft Manufacturing Plant in US
Airbus has announced that it will build a $600 million aircraft manufacturing plant in Mobile Alabama. This is significant news and will open doors to US based commercial airlines to buy more Airbus Aircraft in the future.
Airline Security; Stewardesses The Last Line Of Defense!
Introduction:It might come as a chock to many people, including the Stewardesses, but the fact remains that in today's Airline Industry, the Stewardess is the last line of defense!In the 11th of September terrorist attacks, on the WTC and Pentagon, the first victims were the Stewardesses. Savagely attacked by the terrorist on their way to the cockpit's and tortured to pressure pilots, to comply with the terrorists demands.
Aviation Lawyer: Whether Passenger, Pilot or Owner, You May Need an Aviation Lawyer
If you or a family member has been the victim of an airplane accident, you should find an Aviation Lawyer (Attorney) to help you. It is important to contact an Aviation Lawyer because of the highly specialized nature of Aviation Law.
Common Cockpit Concepts and Convenient Configurations
One of the big pushes in aviation and military is to have common cockpit designs, which are ergonomically correct. The Common Cockpit Initiative (CCI) would mean all aircraft have basically the same cockpit; all the instruments would be in the same place, the seats in the same place, in fact nearly everything would be the same.
Flying With Your Dog
A pet owner must research the many requirements before taking a dog on an airplane. Different airlines have slightly different regulations, but most airlines follow the same basic set of rules in regards to flying with a dog.
Sex in a Cessna, Part I
If you have never had sex in a Cessna or other small aircraft then you probably might wish to read this article. It is fun, exhilarating and can get a little tricky if you do not do it correctly.
Preventing Rapid Decompression In Commercial Airliners
In Flight Airline Rapid Decompression Breached Window (Airline Safety)Here is a concept worthy of mention about the issues concerning Airline International Terrorists and Guns in the Cockpit and of course Federal Air Marshals. If a gun goes off in a smaller airliner, 737 or 767 then a bullet could penetrate a window and breach the pressurization system.
Bathroom seat with a view; That's right! The all-new A-380 is trying to make air-travel fun again, with a bathroom with a view. But Airbus is not the only commercial aircraft company, which has their shit together.
Laser Beam Guidance for Oshkosh Air Show
The Federal Aviation Administration is devising a method of alerting pilots who enter a restricted airspace to leave immediately. To do this is will use a laser beam pointed at the aircraft in a certain color.
Downed Pilots Hibernating From the Enemy
When we watch Oliver North's "War Stories" or the "Wings Discovery Channel" we often see the problematic issues with downed pilots trying to evade the enemy. They have limited if any food supply and lots of people looking for them.
Starting an Aircraft Washing Business
So you love airplanes and you want to start an aircraft washing service? I cannot blame you, as I did the same thing. After cleaning Thousands of aircraft over the years, I have paid for my flight school, first aircraft and then started an aircraft washing franchise as a module of another franchising company I had founded.
5 Tips for Stress Free Long Haul Flights
The world is becoming smaller by the day. Flying long haul to distant locations for business or pleasure is becoming increasingly more popular.
FAA Intervention in Privatized Space Flight is Ridiculous
Burt Rutan and his team of designers, engineers and test pilots at Scaled Composites did something no private group had ever done. They proved that private space flight is feasible and safe.
Fuselage Mounted Laser Vortex Enhancer Directed to Airfoils
DARPA has developed a small laser cannon, just like Star Wars to use as a weapon in a fighter plane for air to air combat, destroying enemy missiles or perhaps using a combination later on of Argon or CO2 (depending on altitude) for close air support. Recently it was announced that they would put this new airborne laser system onto fighter jets.
AWACS Automated Flight Following System for Nuke Bunker Buster Accuracy
The Aerial Fire Fighting Industry uses a system called AFF Automated Flight Following System. It works from a satellite.
General Aviation Manufacturing is in the Tank; Hang On It is Going to Get Worse
Change is a constant, Outsourcing Jobs, Capital flows, Emerging Markets are a given and this includes the Aviation Manufacturing Sector as we watch the current Migration pick up speed.It appears that the technological advantage that we have here in the United States is no longer going to sustain us without further advances.
Cleaning Air Cargo Containers
If you own a pressure washing business, janitorial service or truck washing business you owe it to yourself to look into the cleaning of air cargo containers. The cleaning of air-cargo containers is a necessity and it is a consistent business.
Flying VS Driving
When fuel costs are so high, people favor flying to driving. If the distance to be traveled is over 500 miles it often makes sense to fly.
|home | site map|