Flying in a private jet is one of the best experiences that a traveler can have.
If you wish to make private jet travel an on-going part of your life, you may be considering private jet ownership.
But then you come across a dilemma. Should you completely own a private jet or consider fractional jet ownership?
What are the pros and cons of either?
We’ve put together this quick guide to help you decide what’s best for you. Keep reading to find out everything you need to know.
The Guide to Private Jet Ownership
Consider the advantages and disadvantages of both types of private jet ownership and then decide what works best for you.
We also suggest having a jet valued before choosing to invest your money in it. You can learn more about valuation here.
Here are four other important things you need to know.
1. Consistent Experience
If you own a private jet entirely to yourself, you will have a consistent and predictable experience with the jet.
You will be accustomed to the layout of the jet and enjoy the same features every trip. With a fully-owned jet, you may also have the same pilot and staff who know the jet well. If you like predictability and want a relaxed experience, you may wish to shell out for full ownership.
2. Customized Experience
If you fully own a private jet, you also have the right to customize it to your experience. If you wish to make changes to the interior of the private jet, you may do so.
These changes can range from the upholstery of the seats to replacing the engines with superior technology.
This customization isn’t guaranteed with fractional ownership and in some cases may not even be possible.
3. Fewer Responsibilities
One of the benefits of fractional jet ownership is that you have fewer responsibilities. With this option, you own shares in a private jet company.
You will not be responsible for the upkeep of the various jets that the company owns. It is the responsibility of the company to hire pilots, train stewards, and improve the comfort of the jet.
This will also save you lots of money in the long run. It is imperative to research the private jet company thoroughly to ensure that they uphold the highest standards.
4. Inconsistent Experience
With fractional ownership, you will however have an inconsistent experience. You will not always ride on the same jet and the interior, features, pilot, and staff may always be different.
If you like watching TV on a private jet, there isn’t a guarantee that this will always be on every jet. You may fly on a jet with enhanced technology to get you to your destination faster. Or you may be on one that flies at a slower rate.
You will have to negotiate how many hours you plan on flying (usually on a monthly basis) to decide how much money you invest. The more you invest the more often you can travel on a private jet.
Now that you know the benefits and drawbacks of full and fractional private jet ownership, you can decide which option is best suited for your budget and your needs.
Flying on a private jet is a great experience and we highly recommend it for any frequent traveler.
Be sure to read more great content on transportation and automobiles right here on our blog.