The thrill of owning a private jet is undeniable – setting your preferred travel schedule, bypassing the chaos of packed commercial planes and basking in an unparalleled luxury experience. Still, the financial commitment can be a deterrent, especially if you don’t fly frequently enough to justify the cost. Fractional private jet ownership combines convenience and flexibility with a smaller price tag.
Fractional Jet Ownership Has Increased
The COVID-19 pandemic sent the travel industry into a tailspin. Private jets saw a surge in demand as people worldwide canceled plans to travel on crowded commercial airlines. Travelers love the safety and tranquility of private aviation – no more sharing cabin space with coughing strangers or crying children.
While the appeal of owning a jet outright remains, fractional ownership has emerged as a tempting plan for those who demand the benefits without all the worries and responsibilities.
The Fractional Ownership Advantage
At its core, fractional ownership presents a simple proposition – owning a share of a private jet. But the magic lies in the extensive benefits it brings.
- Tax benefits: Enjoy nearly all the tax advantages full aircraft ownership provides.
- Operational ease: Forget the intricacies of hiring pilots, managing maintenance, sourcing fuel or finding hangar space. Fractional ownership eliminates these concerns, letting you relax.
- Flexible options: Companies offer shares as minute as 1/16th of a jet (equating to 50 flight hours) to as extensive as full ownership, which can yield up to 800 flight hours annually. Add the ability to switch jet sizes based on your needs, and you have a highly adaptable solution.
Navigating Fractional Contracts
While the allure of fractional ownership is considerable, it’s essential to approach any contract with a discerning eye. Here are a few considerations to remember.
- Purpose and usage: Define your jet usage parameters – annual hours, passenger count and travel type (short-haul or international).
- Service standards: Inquire about the provider’s service quality and luxury benchmarks.
- Travel terms: Scrutinize policies related to peak date travel, response times and fees associated with empty legs.
- Future costs: Read the fine print of any cost-escalation clauses. It’s vital to ensure transparency regarding potential future hikes in salaries and maintenance.
- Exit strategy: Understand your exit options if your situation changes before your contract term concludes.
Take to the Sky With Ingram Aviation Insurance
Fractional private jet ownership seamlessly merges the luxury of private aviation with the pragmatism of shared costs and responsibilities. It’s time to explore the fractional route if you desire an exclusive travel experience without the burdens associated with full ownership. With careful consideration and the right partnership, the sky isn’t the limit – it’s only the beginning.
At Ingram Aviation Insurance, we provide unmatched solutions for the aviation community, tailoring services to our clients’ specific needs. Aviation insurance is our sole specialty, and we are here to help with anything you might need. Contact us for industry-leading expertise, quick turnaround times and nationwide service.