collaborative post | If you are into luxuries, you may have heard of fractional jet ownership. You might also have heard of chartering a private jet. Either option is a way to get around if flying commercial doesn’t appeal to you.
Fractional jet ownership is a special treat you can purchase for yourself if you can afford it, but you can say the same thing about chartering a private jet. You may not know the difference between these two options.
In this article, we’ll discuss both of these purchases and how they differ. By the time we’ve finished, you should have some idea of which one is the better choice for you the next time you want to treat yourself.
What Does Fractional Jet Ownership Entail?
If you have never heard of the concept before, fractional jet ownership means that you, along with others, are all going in on the purchase of a private jet. The concept is similar to several buyers going in on the joint purchase of something else, such as a timeshare or a boat.
Indeed, the timeshare comparison is probably the most apt when it comes to describing fractional jet ownership. That is because you, along with all the others who bought into the jet, wil take turns using it.
Usually, you can buy into fractional jet ownership starting around the $100K level. The cost only goes up from there. If you put in more money, then you will probably own the jet with fewer other people, so you will get to use it more often.
Often, you will get together with the other owners to work out who gets to use it at what times. You may have a set schedule each year, or you might be able to trade off times when you use it with some of the other owners if you particularly want it on a certain day or at a particular time.
What About Chartering a Jet?
Chartering a jet means you have no ownership in it. Instead, you contact a private jet company and tell them you want to hire a plane for a certain day and time.
Some private jet companies don’t always have planes available if they run a fairly small fleet. However, you can usually find a company that has a jet available if you look around a little.
You also need to think about what airfields there are nearby that the jet can use. Many commercial airports do not allow private jets to use them, so you must take off and land at a private airfield either owned and operated by a single private jet company or several of them.
Why is Fractional Jet Ownership Superior?
If you don’t want to fly commercial, and you have enough money to buy into the ownership group of a jet on a fractional basis, then you may find that you enjoy it very much. You don’t have the unmitigated luxury of being able to fly anywhere in your private jet at any time like you could if you were the sole owner. However, you can still probably reap the benefits of ownership at least a couple of times per year.
If you buy into a jet, you also have the satisfaction that comes with ownership. You may not own the jet outright, but you can still brag to your friends that you partially own it. You might also have a set time of the year when you can use the jet, so you can plan a vacation every year around that time if you like. You may look forward to it for months in advance.
What Are Some Advantages of Chartering a Jet Instead?
If you charter a jet, probably the biggest advantage over fractional jet ownership is that you can call up the company and arrange to travel in the plane at any time you like, assuming you can afford it. You don’t have to wait till your predetermined time of the year or the month to use it. You also don’t have to contact one of the other owners to try and bargain with them if it’s their time to use the jet but you particularly want to go somewhere in it.
Which is the Right Choice for You?
If you’re trying to decide whether you should buy into a fractional jet ownership group or whether it makes more sense to just hire a private jet when you need one, you ought to think about the circumstances when you’re most likely to want to take a trip. If you’re the sort of individual who likes to have a circumscribed routine when you do things, then fractional jet ownership might seem worth it to you.
If you know you have that vacation coming up at the same time every year, that might be something you circle on the calendar and wait eagerly for till it arrives. On the other hand, if you’re the sort of person who would prefer to do things spontaneously, then you may feel more comfortable waiting till you want to take a trip, even if it’s sudden.
You won’t need to contact anyone and try to trade dates with them. You just tell the private jet company where you want to go and then meet the plane and pilot there.
Keep in mind that if you don’t have the money to hire a private jet or to buy into the ownership of one, then neither of these options will be possible. Flying in a private jet is something that not everyone will be able to experience in their life. Either fractional jet ownership or chartering one for a spontaneous trip is a luxury rather than a necessity.
Still, if either of these appeal and you have the money for them, there’s no harm in looking into them. You can’t take your money with you, as the saying goes, and the joy you’ll doubtless experience with either of these options may feel like it’s worth the financial outlay.
