Introduction Studies show that personal jets in the United States using gas turbine engines for propulsion make use of a connection of over five thousand airports. On the contrary, commercial planes only reach minimal destinations approximated to be slightly above five hundred airports in the US (Holloway, 2008). Also, in the global fraternity, eight thousand private aircraft are registered to operate. In terms of global market share for the private jets, the United States leads followed by Europe with fifty and twenty percents respectively. Asian Pacific makes up twelve percent while Africa and the Middle East make up six percent. Moreover, Latin and South America composition of personal jets account for twelve percent of the world’s private jet market. In the US, the Super Bowl forms the largest occasion for personal aircraft travel. Airbus A380 is the world’s most expensive jet approximated to cost over $500 million. Factors to consider when owning, operating and maintaining private aircraft There are many factors to consider regarding private ownership of the aircraft. To begin with, in owning the aircraft, the owner should spend time in analyzing the personal needs before rushing in making decisions. In other words, flight loading, trip expanse, as well as conditions of air travel are important aspects that determine how best the jet suits the owner’s needs (Williams, 2011). Also, the owner should consider doing pricing with the aviation trade association and fixed base operators to find the latest prices and bluebook values for aircraft. Further, the owner should consider the engine hours, aircraft’s installed equipment such as avionics, air conditioning, deicing gear as well as inner designs. Damage history of the aircraft and the conditions of sale contract are also an important consideration in owning a jet. In the operation of the aircraft, the operator must ensure the aircraft has airworthiness certificate that is a condition for safe operation and grants the authorization for the operation of an aircraft in flight. For instance, the primary category of special airworthiness certificate authorizes the operation of aircraft for pleasure and private use. In the maintenance of a personal jet, the owner must ensure that the aircraft is in an airworthy condition. The owner has to ensure compliance with the concerns relating to airworthiness directives (ADs) are met (Williams, 2011). The ADs include the total time of engine and propeller service, the status of life-limited parts of the engines, rotor, and airframe as well as the present inspection condition. Modifications that have occurred in the aircraft should also be considered. Types of aircraft ownership Several options regarding the ownership of aircraft exist. First, through full ownership, an individual owns a hundred percent stake of a plane. In this type of ownership, the owner of the aircraft is liable for the security, safety as well as the comfort and cost aspects of the journey. Secondly, joint ownership option enables the prospect of individuals or entities the legality of sharing costs that validates the utilization of the jet at economical rates (Speciale, 2003). Another ownership option is the fractional ownership where an entity purchases stake in the possessi