By Woody Robinson
Name one person you know that wouldn’t want a private jet. Pretty tough right? While millions of dollars will get you the nicest plane out there, alternatives in recent years have made owning a private plane a bit more tangible.
In fact, private flight has actually become increasingly accessible. Fractional jet ownership is now a viable option for wealthy individuals and corporations worldwide. Created in 1986 by Net-Jets, fractional ownership prorates the full market price of an aircraft and distributes the cost between several customers, or ‘owners’. However, instead of owning a single aircraft owners have access to an entire fleet. With hundreds of available locations, you can’t argue the convenience.
The good news for flight training students is these fractional ownership programs create more pilot jobs because of increased utilization of each airframe in the fleet. In the “old” days, a company might purchase a business jet but only fly it a few times a month. Today, that same company has the option of buying in to a fractional ownership program. Since many people / companies share the same (or similar) aircraft, the fractional company must hire many more pilots in order to meet the demands made by multiple owners. Most fractional aircraft are flying constantly with a minimum of downtime. The end result is a much larger demand for pilots.
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