Private Jet Charter Or Fractional Ownership?
There are many different ways to fly by private jet, but which is the best?
A question we get asked a lot is "Why should I charter instead of buying in to a fractional ownership scheme?". The frequency of this question is increasing, so we thought it would be worthwhile diving in to it.
We’ll start by explaining the pros of chartering over a fractional ownership, then break down the differences between the two.
Fractional ownership involves owning a share of a private jet rather than the whole aircraft. In the majority of cases, it is more cost effective to charter a jet when you need it, rather than using a fractional ownership. This is mostly due to the fact that obtaining a bottom line price for fractional ownership is difficult – some contracts and operators could have additional fees; things like fuel and Out of Hours charges.
We allow you to pay as you fly, avoiding membership fees and minimum requirements that may come with a contract. Most fractional ownership contracts have a minimum flight duration of one hour, leading to a waiver fee for anything shorter than this. You may also have further restrictions during peak/busy flight periods, which are avoided when using chartering.
The main benefit of private jet hire over fractional ownership is cost, but chartering also has many other benefits. With charter, we look to use an aircraft from a local airport, meaning you could be on your way within an hour. Availability of the aircraft and flexibility can be limited with fractional ownership, as some contracts can require up to 48 hours notice before flying. Even then, someone else might also require the aircraft for that period.
When you hire a private jet, you avoid all of this. Charter companies also ensure you book the most appropriate aircraft for your journey, taking in to account number of passengers and flight length, rather than simply the aircraft type selected with a fractional company. Simply let us know where, when and how many passengers, and we will negotiate prices on a selection of aircraft which best suit your trip profile.
So with that in mind, we thought it might be helpful to put the two side by side and see which comes out best.
Fractional Ownership
CASH COMMITMENT: Initial large payment followed by annual management fees and additional flight costs
PRICE COMPARISON: Fixed rates + charges
AIRCRAFT TYPE: Fixed to category selected, no flexibility
CONTRACT LENGTH: Usually 2-3 years, with exit fees
GUARANTEED RESPONSE TIME: Subject to contract terms, typically 48 hours
AIRCRAFT POSITIONING CHARGES: Included within restricted service area, e.g. if your contract services Europe, out of area fees would apply if flying outside of this zone - for example America or the Middle East.
Charter
CASH COMMITMENT: None - Pay as you fly
PRICE COMPARISON: Lowest rates available
AIRCRAFT TYPE: Most suitable jet for your journey
CONTRACT LENGTH: None - The only contract you sign is the aircraft you book.
GUARANTEED RESPONSE TIME: We operate 24/7 so endeavour to get back to you in the shortest possible time.
AIRCRAFT POSITIONING: If applicable, they are Included in charter quote, however we will always look to use aircraft based at your chosen departure airport to avoid these costs entirely.
All of this being said, if you fly frequently and want to avoid the hassle of paying for each individual flight, you can open an account with us and deposit as much or as little as you like with no refund fees or charges, and then we simply use this when a flight is confirmed – meaning each flight booking is as smooth as possible. This is also helpful for last minute bookings, as we have the funds readily available, dramatically reducing the time it takes to get airborne.
Whatever your reason for flying , we would love to help you organise your trip. After all, life is about adventure so why stay grounded?
Get in touch with one of our private jet charter experts today and let us tailor a schedule to suit you +44(0) 203 880 9005