Fractional Jets

Fractional Jets is a common term for fractional ownership of aircraft. The first such program was launched in 1986 by NetJets. Other providers include business jet operators CitationShares, Flexjet, Flight Options, and Executive AirShare. Fractional aviation is also available in non-jet aircraft, such as Avantair's fleet of Piaggio P180 Avanti aircraft, PlaneSense's Pilatus PC-12 fleet, or combined fleet of jets and turboprops such as AirSprint's Cessna Citation Excels and turboprop Pilatus PC-12s or Autumn Air's use of Cessna Citation Is, IIs & Vs and Beechcraft King Air 90s & 200s.

With fractional jets, customers (referred to as "owners") buy a “share” of a plane, rather than an entire plane. The price is pro-rated from the market price of a full aircraft. Owners then have guaranteed access (50–400 hours annually or a certain number of days of the year, depending on share size) to that plane with as little as four hours’ notice. Fractional owners pay a monthly maintenance fee and an “occupied” hourly operating fee. Usually the latter is charged only when an owner or guest is on board, not when the plane is flying to a pick up point, or returning to base after completing a mission.

Owners have access to the full fleet of planes and may upgrade or downgrade for specific flights. At the end of the contract the owner can sell their share to the market whether that be the company or another owner waiting for a position, some companies charge a re-marketing fee to have this done.