Fractional ownership accounts for 17 percent of business aircraft delivery today, compared to 9 percent in 1995. While approximately 3,500 owners have chosen this option over personal ownership or chartered airlines, industry analysts predict that number could reach 200,000 in the United States alone in the near future. Fractional jet ownership, a viable alternative to full ownership, offers all the advantages of owning a private jet but at a fraction of the cost and without having to worry about the details of operating one. Leaders in the jet time-sharing business are Flexjet, Executive Jet, Flight Options and Travel Air. These companies, along with others, sell cooperative ownership shares in specific aircraft to businesses and individuals at up to one-tenth the cost of buying and maintaining private jets.
Additional time is also available, if needed.
Owners buy shares in a specific class of aircraft and then pay monthly maintenance charges and a rate per occupied hour of the aircraft. Its 110-jet fleet makes Flexjet the largest operator of Bombardier business aviation aircraft. The Bombardier connection means Flexjet can offer a fleet of new aircraft for fractional ownership. The age of Flexjet's aircraft averages two and a half years. What's more, jets are retired after five years, saving on maintenance costs and assuring reliability.