This means you can fly short routes (under one hour) and only be charged for the actual flight time involved with your trip. No, it is unlikely that you will have the same crew for each flight. The transactions had several challenging issues that required expert counseling and negotiation. With the SMA Network, your plane can earn you income while they fly and keep it maintained. Monthly maintenance fee: These will be charged to each. This rate also includes direct expenses associated with maintenance, standard catering, and engine operation, Fuel Component Adjustment - Added to the base hourly rate to account for fluctuations in the cost of fuel, which varies monthly, However, pricing varies based on timing and varies across operators, Designed for those with minimal travel needs, No fees for repositioning, catering, or de-icing, Typically offers more experienced pilots and crews, Aircraft are often younger and more advanced, You select aircraft and receive guaranteed access, One point of contact + expert operations team, Providers own their aircraft and employ their own pilots, No need to involve more than one provider for long trips, Minimal cabin restrictions (pets allowed on board), VIP access to events, resorts, and product offerings, None of the risks, restrictions, and responsibilities associated with whole ownership, Much smaller upfront capital deployment + fixed costs, Repositioning, catering, and de-icing fees are covered, Ability to upgrade or downgrade aircraft for specific trips, Option to utilize more than one aircraft simultaneously, No maintenance downtime or need for supplemental lift, Option to sell share back to the provider at end of term, Depreciation deductions applicable to a capital asset, Provider handles all crew scheduling, aircraft maintenance, insurance, regulatory compliance, hiring and training, storage and parking. Tax and Financing Ramifications of Fractional Aircraft Ownership, Managing Aircraft Fractional Ownership Under FAR Part 91, Subpart K: Ten Reasons Not To Charter, Fractional Ownership: Understanding the Insurance, Operator and Management Company Responsibilities: Business Effects of Adoption of Part 91, Subpart K, Download the notice as it appeared in the Federal Register, Download the rule as it appeared in the Federal Register, Fractional Ownership Aviation Rulemaking Committee, Fractional Aircraft Ownership Grows As Added Programs Drive Value Perception, NBAAs Frequently Asked Questions About Fractional Ownership. FlightRules: IFR Total Time: 320.0. If a client wanted to exit their share early, the experienced counsel at Essex Aviation can assist them in determining the best strategy to exit their plan in the most cost-effective manner and manage the final repurchase transaction of the share with the program provider. As the length of your trip increases, the hourly rate decreases, providing an attractive solution for cross-country or international travel. The latest news from the world of private aviation. This feature increases the availability to all owners. The SMA Network is designed to help you Fly More. The versatility of the Hawker Beechjet 400A and the Learjet 60 makes it possible to access more airports than most other programs, saving fuel, valuable drive time, and getting our aircraft owners closer to customers, important meetings, and family. After completing the CAPTCHA below, you will immediately regain access to the site again. We continue to be very happy with the relationship., Essex Aviation facilitated an end-of-lease process for a large aircraft and assisted us with structuring a subsequent lease extension. The Intelligent Choice in Private Aviation. Targeting EBITDA profits in 2024, Wheels Up is cutting $30 million in employee costs, excluding pilots, frontline maintenance, and other customer-facing roles. Clients considering fractional aircraft ownership often have different expectations and have varying needs. Additional information is available in this. Tue -- 9:00 am - 5.00 pm. 24/7 access to your personal concierge, every day of the year, including weekends and holidays, because were there when you need us most. Our services team coordinates precise timing and routes, ensuring that every flight is hassle-free, even during peak travel days. The largest fractional operators, including operators of both jets and turboprops, are ranked and discussed below. Average capital fees for fractional jet ownership will start between $300,000 and $600,000 for a one-sixteenth share of a light jet. Learn more about the National Business Aviation Association. Have breakfast in the mountains. Other taxes and fees will depend on your traveling needs we have contract specialists on hand to answer any questions. Our team assists clients in comparing options based on their specific needs and desires, starting with a technical and financial analysis to ensure that the right aircraft and aviation utilization models are considered. AND. Vacation In Luxury Properties Investors vacation in this home and all Equity Residences homes Properties. Essex is a well-respected consumer advocate within the aviation industry, known for our character and honesty. Knowledgeable. Whether or not you should buy a share with a fractional ownership provider or go with whole aircraft ownership depends on the amount of time and money that a person plans on flying. Fractional ownership grants guaranteed access to a private aircraft based upon the number of flight hours purchased. One Airplane. The PlaneSense Fractional Program. Gather with other operators for up-to-the minute information to support aircraft operations in regions around the world. term of 30 months. This ensures you are provided with flights, when and where you need them, highly trained pilots, safe and reliable aircraft, flexibility, and exceptional customer service at a competitive cost, saving you valuable time and money. . The tax applies to the . Wifi Information R Louis Zeitlin The SMA Network allows you to increase visibility to area pilots while SMA Strategies will help you align expectations and help fulfill your needs in a partnership. consult an aviation tax advisor and tax attorney, Whether a specific aircraft type meets the majority of their travel requirements, Whether they fly for business or personal reasons. More details to come! As these programs grew in size, complexity and number, there was considerable controversy within the aviation community as to their appropriate regulatory structure. The program provider also handles the day-to-day responsibility of paying airport and hangar fees and insurance, although fractional owners contribute an agreed-to monthly and hourly fees toward these costs. Innovative Solutions Our modern fleet of luxury private jets and unique programs ensure the most luxurious, financially efficient, sustainable solution, every time. Search NBAA's Products & Services Directory by selecting the "Fractional Share Providers" product category. Capital Cost (Ownership): An asset purchase that allows for a minimum of 50 flight hours per year priced at predictable rates over a specific term in the type of aircraft owned. Naturally, when utilizing jets for more than 50 hours a year, SkyShare USA is an excellent solution. Red Label lets you enjoy the best of whole ownership for a fraction of the cost thanks to crews dedicated to your tail number, interior designs from our LXi Cabin Collection, and much more. Repositioning fees of flight hours (the cost of returning a specific plane to its home base also known as Empty Leg Flights) can be a costly factor. As an added benefit, some fractional plane ownership programs offer owners the option to upgrade or downgrade the size of the aircraft depending on their trip requirements. Attend EBACE2025 to learn how new advanced aviation technologies will impact your business and which innovations can help make your business more profitable and sustainable. Our uncompromising standards in both service and safety ensure you can fly with true peace of mind. What is the maximum fractional jet ownership share size? Number of Seats: 2. As you were browsing something about your browser made us think you were a bot. At the end of your five-year program, SkyShareUSA will resell your aircraft and distribute the proceeds to all owners. Fractional ownership can start to make sense if you fly more than 50 hours a year. 2001 and 2002 Cessna Citation 560 XL aircraft 1/3 ownership for sale in Fort Lauderdale, FL professionally managed, professionally flown, aircraft are on engine programs, aircraft will be operated . Saint Charles, Illinois, USA. Privacy Policy Fractional ownership of aircraft is an arrangement in which multiple owners share the use and costs of purchasing and operating an aircraft. Pros: Jet aircraft are much cheaper when divided up into four, six or eight shares. Save the date and make plans to attend the biggest and most productive event of the year for business aviation. We understand that travel flexibility is vital to our owners. Call Listing Broker Scott MacDonald Toll Free8882804900 . Unlock a new world of possibilities with a share in a brand-new Cessna Citation CJ3+. Lee and Tom are key partners in all aspects of family office aviation matters., John Castrucci, Family Office Executive & Founder, I engaged Essex Aviation to prepare an analysis of large cabin aircraft that best met my needs. Aircraft Location: South Florida, Florida, USA. You've disabled JavaScript in your web browser. But is leasing right for you? If you ever fly on a non-Flexjet program aircraft for more than five percent of your annual allocated hours, we will credit hours back to your account. For Sale: Aircraft Possibly the cheapest airworthy aircraft on the market. A portion of a share purchase can be sold back to the provider at the end of the contract. The smallest fraction is typically 1/16th equivalent to 50 flying hours per year. Traditional share sizes are based on annual flight hours per contract, per year. NBAAs First Regional Forum in 2 Years Exceeds SDC2023 Day of Service Supports Local Womens Sanctuary. Size Rankings It was easy to request this. . There is a significant amount of paperwork involved when purchasing a fractional jet ownership share but the primary documents youll sign are a purchase agreement, a management agreement, an ownership agreement and a dry lease exchange agreement. Included is our guarantee to cover 100% of all maintenance. This covers all expenses including insurance, crews salaries, aircraft maintenance, engine reserves, storage, cleaning, and more. PlaneSense, Inc. has been a leader in world class fractional aircraft ownership since 1995. The Essex team is friendly, prompt, easy to work with, and most importantly, simply the best at what they do. Typically, fractional programs require a minimum share size of 50 hours of flight time per year to acquire a share. With fractional aircraft ownership, you purchase a share of a specific aircraft type to be utilized for a defined number of annual allotted flight hours. Flights, catering, rental cars, hotels and even suggestions on restaurants and things to do at your final destination are just some of our services. Private access to esteemed sporting, philanthropic, social, and educational events. A preferred solution for supplemental options and/or avoiding upfront capital investment. You must use one aircraft for all missions, with no simultaneous use option or ability to upgrade or downgrade. In some cases, the tax exemptions are customized to suit your interest and your tax situation. Aircraft Description $650,000 for 50% ownership in this excellent running low hours jet. Fractional jet ownership costs include the initial acquisition cost, monthly management fees and an hourly operating fee. Discover a DiamondShare near you. The FAAs final rule Regulation of Fractional Aircraft Ownership Programs and On-Demand Operations sets regulatory standards for fractional ownership operations (Part 91, Subpart K) and updates requirements for on-demand charter operations (Part 135). Practical. This is based on an hourly rate and your flight hours are billed monthly. From Covid-19 protocols to meticulous service, you can have peace of mind knowing we adhere to the strictest standards in our fleet to ensure your safety when you join one of our fractional aircraft programs. . Share ownership in $2M - $4M vacation properties with one low investment. Granting you the ability to "right-size" your jet to fit each trip. Own Fractional Shares of a Jet If you fly at least 50 hours a year, you might be financially better off buying fractional shares of a jet. The majority of the cost of fractional ownership can be broken down into three main parts: Flexjet gives fractional Owners the option to fly on larger or smaller aircraft types when the need arises. We are committed to protecting the privacy of our clients. Quite possibly we have the solution that will not break the bank. Lifestyle and educational content that brings our brand of aviation to life. Compare. Co-Ownership Support, Legal Docs, help with insurance, financing etc. It is our desire to form and maintain long-term relationships with our clients and remain accountable for the analysis and support of past and ongoing decisions. . We can then help with all the sharing docs, financing, insurance, and training. The frontier of travel where innovation meets aviation. You are fully covered with our 100% guaranteed airframe and engine protection plans at a fixed hourly rate. No, your direct operating cost per hour will remain the same even if you increase your size of share purchased. lowest fractional aircraft program share costs, Less hassle than whole aircraft ownership, Best Jet Ownership Fractional Program In The Industry, Contact Us & See How We Can Save You Money On A Private Aviation Solution. The 2023 NBAA Tax, Regulatory & Risk Management Conference is the premier conference for attorneys, CPAs, financial advisors, CFOs and flight operations professionals looking for tax planning strategies from industry leaders. Maximum tax on fractional aircraft ownership interests.The maximum tax imposed under this chapter, including any discretionary sales surtax under s. 212.055, is limited to $300 on the sale or use in this state of a fractional ownership interest in aircraft pursuant to a fractional aircraft ownership program. DiamondShare Opportunity. Mon -- 9:00 am - 5.00 pm. 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