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Owning a private jet is a commitment. Foremost, it is a commitment of a vast sum of money that most just simply don’t have. That isn’t to say that the private jet is forever elusive, as schemes such as the fractional ownership plan have allowed low budgets to obtain private jets too.
Buying in a fraction of a jet is a lot like buying a stock. You will essentially own a share of the jet, and have a say in who uses it, why, and when. If you can find a company that manages the relationship between you and other investors, all the better the relationships will be. You can expect to get the jet plane according to a set schedule, or according to a certain amount of hours as set by the company.
Perhaps traveling via jet isn’t a long term solution for you: that’s fine too! There are plans in action that allow buyers to liquidate their share in a jet in order to get their invested money back into capital. Liquidating your stake in the jet will mean you will get a fair market value at the present time period- so you may actually get less than you have put into the operation.
Find a private jet ownership model that guarantees availability. These managed services will ship out a different private jet should another stakeholder be using the one in question. Guaranteed availability is necessary for business owners who need to get in the air at a moment’s notice in order to secure their next business deal.
Find out about all fees before signing the papers. This can’t be stressed enough, as there will still be periodic fees for the maintenance of the jet. The massive amount of money it takes to finance these operations will be considerably less since you only own a fraction of the jet, but be aware that there are still fees. Keep some room in your budget to pay them upfront after finding out the estimated costs.
Press the charter company for every detail possible in regards to what you can or can’t do. While it will all be outlined in your contract, odds are that the company won’t go over everything with you unless you specifically ask. It might also help to find a lawyer, or find a previous client that has signed a contract- perhaps a friend or family member. Ask them how they felt about the contract and service.
In Conclusion
Private jet ownership schemes are the perfect solution to a problem where budgets are concerned. Private jets are much too expensive for the average Joe to rent one out, but thanks to modern ownership methods, almost anyone can get a piece of the pie.
Learn more on air charter purchasing guide and Lineage aircraft.
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