Joining the jet set

Even those that enjoy the actual flying experience would not argue that the initial jostling and queuing, arriving hours early for check-in, enhanced security leading to increased delays, generally crowded planes with cramped accommodation and other associated drudgery is not exactly fun. Even as a small percentage of the approximately 2 billion air passengers that travel every year, there are an awful lot of people out there looking for something more out of their flying experience. It is fair to say that the vast majority would rather be flying privately, but is this only an option available to the super-rich? Not if you’re travelling fractional.

Private jet travel is becoming more popular for the cash-rich, time-poor consumer in today’s world and the signs are that it is set to continue. With flexible schedules and destinations to suit you, a super-slick airport process, extra security and the potential for entertaining friends and clients but, ultimately, to just travel and arrive in impeccable style, nothing can match your own private jet.

There are a wide range of different options available, ranging from fractional ownership programmes, fractional card and membership programmes, charter card programmes and on-demand charter.

Firstly, there is actual fractional ownership, where one buys a share of a plane; as a part owner, you have access to ‘your’ plane at short notice. Just like with other fractional models, your annual use of the aircraft corresponds to your share size. At the end of your contract, which typically lasts around five years, you sell your share back to the management company, which is valued based on the current market price of your plane, less a remarketing fee. In addition to your share, you pay a monthly maintenance fee for the upkeep of your plane and crew, and a separate hourly fee for your flight time.

The fractional card and membership programme is an asset-sharing rather than a fractional model, so there is no actual ownership involved. Instead, you simply prepay, much as you would with a pay-as-you-go phone card (although £10 of airtime in this case doesn’t get you very far!). When you’ve used your allotment, you simply purchase another card.

One key distinction in card programmes is the source of the planes and crew. Fractional cards provide you with access to the same aircraft and crew that fractional owners receive. Charter cards draw from the wider array of charter operators. The structure of the programme itself is based on either hour/plane or debit models. In the latter, you prepay and each trip is deducted from your card balance, and in the former, you pay based on the accumulated flying hours (i.e. excluding preparation of the craft), which are debited from your account in a similar fashion to prepay.

So which format is best for you? Well, the keyword there is you. Where do you want to fly, how short a notice period do you require for your needs, do you have a provider preference and even the apparently small details such as how much baggage you regularly need to carry, for example, if you regularly carry skis or golf clubs, as certain smaller craft are immediately ruled out, are down to you. Also, there is obviously some financial risk involved in owning your own personal share of a plane, so you need to weigh that up. As with any fractional decision, there is also the release of financial concern—cards require a smaller initial investment than ownership, as this can run into millions of pounds. To make the decision process slightly easier, many companies offer the full range of options.

Although referred to as private jet travel, you will not always be travelling by an actual jet. Particularly when travelling within Europe, a jet is not the most efficient way of getting around. Many companies offer a range of turboprop aircraft giving jet-like efficiency at a lower price point and with a lower environmental impact.

 

Articles

Any:
An Introduction to Fractionals

Art:
Fractional art donations prove charity starts at home

Handbags:
25 questions to ask about fractional handbag clubs

Boats & Yachts:
25 questions to ask a fractional boat operator
Fractional Boats in New Zealand
Pushing the (fractional) boat out
Boats & yachts- what's on offer?
Fractionalize This

Classic Cars:
25 questions to ask a fractional car club
Why opt for a 'fractional' classic car?
Classic Car Club Feature
Getting the most out of your fractional ownership experience
Why Not Rent?
You've Always Loved Cars?
Fractional Life hits Le Mans

Destination Clubs:
Lifestyle Asset Group: the best of both worlds
Relationship Selling to Todays Affluent Fractional Clientele
Mixed Use: Avoiding a mix up
Focus on the Registry Collection
DCs- Variety is the spice of (fractional) life
Fractional Property Glossary
Aspirational vs. Inspirational Media
Member Strategies For Lean Times
Brand Maintenance During An Implosion
What Goes Up Must Come Down...
Savings through Foreign Exchange
Fractional Finance Solutions
Destination Clubs- an alternative?
Fractional Ownership Heads to Europe
Private Residence Club Perspective Part 1
Quintess
Ultimate Resort
Calistoga Ranch
The Weybridge Collection
The Villas at The Grand del Mar
The Solstice Collection
Vacation Visions: Exceptional Exterior and Interior Designs of Residence and Destination Clubs 
Why the Boomers will change second home ownership in the US
Middle East Leisure Real Estate Market Booming
Bear Mountain Resort - A View from Paradise
New Association For Fractional Ownership
The New Vacation: A Time to Retune Re-Connect

Consultancy:
Profit Opportunities in Luxury Fractionals - A Summary

Exchange:
The Golden Rules of Fractionals

Racehorses:
A Horse by The Name of Fractional Life
Running Down a Dream

Corporate Hospitality:
So Long to the Suite Life

Aircraft & Jets:
25 questions to ask a fractional jet operator
Top tips for fractional jet travel
Jet Republic pilot applications reach new heights
Focus on Fractional Jet Europe
A closer look at fractional aviation
CoGoJets introduces jetpooling
Joining the jet set
Fly for a fraction of the cost
Flying without Wings
Can't afford that jet? Rent it
How Private Aviation Works

Legal Services:
Fractional ownership: is it timeshare in disguise?

Private Clubs:
A tale of two cities - Private residence clubs in San Francisco and London
The Italian Job: interview with Byrne Murphy of Palazzo Tornabuoni
Mixed Use: Avoiding a mix up
PRCs with added benefits
Northstars 'stay and play ' option
Private Residence Club Perspective
Fractional Property Glossary
What are the ingredients for the ideal Private Residence Club?
Savings through Foreign Exchange
Fractional Finance Solutions

Real estate:
Fractional Life in Ireland: For peat's sake!
Fractional Summit USA 2010- Speaker biographies
25 questions to ask about fractional property ownership
Fractional Summit Speaker Biographies
Fractional Property - The New Normal
Gay Community Embraces Fractional Property
Fractional Real Estate Investment Or Lifestyle Purchase?
Fractional Sales: Square Pegs In Round Holes?
Fractional Real Estate Commissions
Urban Fractionals
European Mixed-Use Resort Development in 2009
Mixed Use: Avoiding a mix up
Property- the legal issues
Fractional Holiday Getaways
Fractionals-Recession beaters?
State of fractionals
Fractional Property Glossary
Savings through Foreign Exchange
Fractional Finance Solutions
Fractional Property- the legal issues
Fractional Property Regulation
Fractional Ownership? We'll have a piece
Keep The Door Open
Why Fractional Property?
The Benefits of Fractional Ownership in Private Residence Clubs
Middle East Leisure Real Estate Market Booming
New Association For Fractional Ownership
Saving Homes, Homeowners and Banks Through Fractional Ownership?

Lifestyle:
Savings through Foreign Exchange
Convergence in the Fractional marketplace
The stock market for songwriters

Supercars:
25+ questions to ask a fractional car club
Live The High Life In A Fractional Supercar
Why Individuals Should Join A Supercar Club
Why opt for a 'fractional' supercar?
Focus on Marque II
Eco-road-warriors- How will the supercar club line-up of the future change?
Fresh metal- What's new on the supercar front?
So Why Not Buy?
You've Always Loved Cars?
Supercars- The cars of 2006/7
Let's Take The Lamborghini
Fractional Life hits Le Mans
Ascari Racing Festival Weekend
Fractional Supercars at the MPH Show
GROUP20 The SuperCar Club announce their 2007 Road Show in aid of Children In Need
New supercar club with green credentials

Luxury Motorhomes:
Denver RV show ready to roll

Wine & Spirits:
Wine