The private aviation industry is booming. Turbo-charged by the Covid-19 pandemic, demand for personal jet flights continues to grow unabated with travelers drawn to the added safety and convenience it offers. Last 12 months, there have been 5.3m private jet flights across the globe and orders for brand new private jets are forecast to achieve a brand new high of $34.6bn in 2023.
Nevertheless, buying a personal jet outright is just one in all the ways to get on board. In reality, only a few of the worldwide fleet of personal jets (reported to be as high as 23,133 in 2022), are privately owned. The bulk are owned by operators or by multiple person, a system generally known as fractional private jet ownership.
But what’s fractional private jet ownership? We break it down on this quick guide.
What’s Fractional Private Jet Ownership?
Fractional ownership provides just about all the identical tax benefits as full aircraft ownership, minus the burdens of hiring a crew and arranging maintenance and storage, amongst other things. Firms sell shares of their aircraft, then handle the operational and maintenance demands.
Shares come as small as 1/sixteenth of a jet for 50 hours of flying, and as large as a complete plane offering 800 hours of flight time a 12 months. Many fractionals even allow sharing the usage of aircraft larger or smaller than the one through which you own a share, adding to fractional ownership’s flexibility and appeal.
While fractional ownership offers essentially the most tax advantages attributable to the ownership being shared, all methods of flying privately have certain tax advantages when used for business. For private use, tax advantages may be limited to depreciation of the aircraft as a private asset.
NetJets
You wish flexibility for private trips with the family, but in addition a jet with more business appeal for company trips that come along. If experience and variety are necessary elements in your aircraft selection, NetJets needs to be in your radar because the leader amongst fractional programs.
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NetJets tops the sector because the world’s largest operator of personal jets, flying a various global fleet in nearly every size starting from the sunshine Cessna Citation XLS to heavy jets, just like the recent Bombardier Global 8000, and the corporate continues to speculate in a wide range of planes for each mission. It’s also got a firm eye on net zero and recently committed to buying 150 zero-emission eVTOLs from Lilium.
Thirty-two years after the launch of its shared-ownership program, NetJets serves greater than 7,000 owners annually using greater than 750 aircraft on 300,000 flights between 3,200 airports in 150 countries. And at among the world’s largest events, owners have access to exclusive NetJets parties, including the PGA Tour, The Masters, Snow Polo World Cup, Auction Napa Valley, Cayman Cookout, Art Basel and the Super Bowl.
Flexjet
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Flexjet entered the fractional jet-ownership market in 1995 as a division of Bombardier Aerospace and weathered the Great Recession of 2008. Now under the umbrella of Directional Aviation, Flexjet serves greater than 2,200 owners worldwide. Today, Flexjet markets three programs, but its flagship program is fractional ownership.
Offering traditional shares, in 2015 it launched the Red Label program, which dedicates a selected flight crew to every enrolled aircraft, making it feel more like outright ownership. And Flexjet continues to grow. Since 2015, it has taken delivery of 95 jets, from light Embraer aircraft to super-midsize Bombardier aircraft. In 2023, it launched a dedicated helicopter division in Europe, the primary private jet operator to accomplish that.
PlaneSense
Regardless of your destination, be it a dude ranch or a country-club airport in an urban area, PlaneSense’s aircrafts get you as close as possible at a share cost that’s among the many lowest in its field. It also flies one in all the youngest fleets on the market, operating two Pilatus aircraft models — 36 of the PC-12 propjet singles and five PC-24 jet twins (more to be delivered in 2020). It’s these two Pilatus models that give PlaneSense its operational fringe of superior runway performance. Each models excel on short and unimproved runways, which opens up access to 1000’s of airfields that larger planes can’t access. The PC-24 delivers on jet speed, however the PC-12 is the short-runway champ.
Whatever the aircraft, count on comfort and privacy: Despite the smaller aircraft sizes, this fleet still delivers with all of the modern-day amenities you’d expect from a personal aircraft, including refreshment centers, a personal lavatory, generous leg and headroom, and flat floors for passengers and their furry companions.