How to Buy Fractional Ownership of a Jet Plane

Instructions

Step1 Contact a fractional program provider. Fractional ownership in an aircraft employs similar provisions to time-share companies. You buy stakes in an aircraft and the vessel is available to you for a portion of the overall time. There are several companies that offer the service, but they do so with differing rules and policies. It is important to customize an ownership plan with a company that works for you and your needs.
Step2 Decide what your flight requirements are. Before you can choose an aircraft or a company, you must first decide upon the type of flying you will be doing, when and where, and how many passengers you anticipate on an average flight.
Step3 Choose an aircraft. The size of an aircraft determines not only its passenger capacity but also its speed and travel distance between refuels. Light jets are the smallest, with the fewest amenities, a typical 4-8 person capacity and a 3-4 hour range; Mid-size crafts can travel 4-5 hours or up to 2,500 miles, usually offer a small galley and fully enclosed lavatory and have a capacity between 5-9, and Heavy Jets are the largest, with the most amenities, a travel range of up to 7,500 miles and a capacity up to 19 passengers. The well-known Gulfstream is of this category.
Step4 Ask about safety and track record. Before you sign with a fractional provider ask to which organizations they and their pilots belong. Ask about pilot training and requirements on all of the planes in their fleet. Choosing a firm that offers only one type of aircraft is limiting, but it assures pilot familiarity with the plane. Among the other questions to put forth are whether they are monitored under Federal Aviation Regulations (FAR); if they subscribe to maintenance organizations such as Wyvern, Q-Star, and Argus; if the planes are equipped with Traffic Collision Alert Systems (TCAS) and Enhanced Ground Proximity Warning Systems (EGPWS), and whether the pilots are trained in basic first aid and CPR.
Step5 Select a level of fractional ownership: 1/8, ¼, 3/8, or 1/16. The fraction translates to hours of flight time in a year. The number from which they base the fraction varies with the company. For a sample chart and rates, look at the below Plane Smart website where a ¼ share represents 150 flight hours at a base cost of $151,800.
Step6 Sign a contract, commit to a tentative calendar and make payment.

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