Fraction Action Can't afford an entire jet? Try winging it with a piece of one.
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Think a private jet is too expensive for your business? Thinkagain. "There are a number of new fractional-ownership optionsfor people without huge travel budgets," says Joe Moeggenberg,president of the Aviation Research Group, an aviation consultingcompany in Cincinnati.
The options-the equivalent of owning a timeshare in a plane-arebecoming popular among small-business owners. A recent study byJ.D. Power and Associates found business aircraft use increased 44percent in the past year. Why? The study concluded that privateaircraft can save a traveler one whole month per year that wouldotherwise be wasted in transit. Here are some options:
- Less is more. For as littleas $100,000 a year, you can partner with other companies to acquirea share in an aircraft. This could buy you as much as 25 hours offlight time. You'll need an aviation lawyer to guide youthrough the process.
- Hybrid options. Commercialcarriers offer flights combining the best elements of a charter,commercial and fractional-ownership program. For example, onDelta's AirElite (www.airelite.com), you can earn frequent-flier miles.Operators such as Marquis Jet Partners sell flight time in blocksof 25 hours, which cost $109,000 to $329,000 (www.marquisjets.com) and have fewer strings attachedthan a fractional plan.
- Own your own. A 1/16 sharein a Cessna Citation jet-the smallest share currently availablethrough a fractional-ownership program-costs $200,000 a year for 50hours of flying time. Check out Flexjet (www.flexjet.com),FlightOptions (www.flightoptions.com) or NetJets (www.netjets.com).
If you travel to destinations not typically served by majorairlines, spend too much time in transit and spend at least$250,000 a year on air travel, fractional ownership is worthlooking into.
Christopher Elliott is a writer and commentator and theeditor of www.elliott.org.
