Making Sense of Your Many Private Jet Options
Not too long ago if you wanted to avoid all of the many hassles of commercial air travel and fly private, your options were fairly limited. You could buy your own business jet, or charter an entire executive aircraft, and that was pretty much it.
Today, there are more ways to fly on a private jet than ever before, from fractional ownership, to jet cards, to shared flights – how do you know which option is best for you? Making the decision is based on three things:
- Your budget
- The locations you most often fly between
- How many times a year you wish to fly private
Buy Your Own Plane
There are still many people that have the financial ability, the need, and/or the desire to purchase their own private jet. However, unless you fly more than 100 hours a year, no matter how rich you are, it simply is not your best option. For those that fly less than that, say between 50 and 100 hours a year, fractional jet ownership was the first alternative to owning or leasing your own private jet.
As a fractional jet owner, you buy into part-time use of the aircraft. There are some good things about fractional jet ownership, primarily you do not have to worry about management and operational costs and issues such as, insurance maintenance, crew expenses, etc., as you would if you owned your own jet.
However, the fractional jet ownership model is very similar to owning a real estate time share, and like a time share, it comes with its set of disadvantages. You get locked into a long-term contract, you are locked into only one, or maybe a few airplanes you can fly, and there are no guarantees of availability when you want or need to fly.
More recently, Jet Cards were introduced as a possible option to fly privately that could counter many of the disadvantages of fractional jet ownership. A jet card is an ideal way to fly privately if you are willing to pay a hefty amount of money upfront. It may be a bit of an oversimplification, but a jet card is basically the same idea as a city metro rail card, where you prepay for a number of hours of use of a private jet, and those hours are deducted at a fixed rate per hour of flying time from your card, as you use it to book private jet charters.
Most jet cards require at least a minimum purchase of 25 hours. With an hour of flight time on most mid-sized private jets averaging anywhere from $6000 to $8000 per hour, you can see how the initial purchase of a jet card can easily cost you over $150,000.
Furthermore, jet cards can be a good option for you if you have a good handle on the number of hours you need to fly annually, then the fixed budget can work for you. However, if you need to purchase more hours, the prices to do so may go up, and if you use to few, often they expire, and you have lost that money. Also, jet cards often lock you into a specific jet, or specific class of jet, which again is fine if your needs never change. However, if over the course of the year, your business or personal travel needs change in terms of distance or the number of travelers, you may need a different class of jet.
Finally, if you do purchase a jet card, be sure to look over you contract very carefully, there are often additional fees for things like taxi time and using “non-preferred” FBOs.
Your Best Private Aviation Option
XO offers an innovative alternative to the dated and overpriced services offered in private aviation today; all while challenging the commercial aviation industry through competitive pricing and an unparalleled flight experience. XO gives users unlimited access to a wider fleet, wherever you are in the world, and the ability to enjoy the highest service and operational standards in private aviation.
Simply put, there is no quicker, or hassle-free way to fly private, than to search and book a flight using the XO app.
XO is changing everything that even the most experienced traveler thinks they know about booking and flying on a private jet.
Only XO offers our unique sharing model. Simply search our app or website for shared flights for where you want to go and when you want to fly. Book your seat and experience the perks of flying private for less than you ever thought possible.
Our crowdfunding option makes booking and flying on a private jet as easy as one, two, three!
Search for your flight. You can initiate a flight or join an existing pending flight for RISK FREE. You will not be charged anything until your flight is confirmed.
Once your flight is confirmed, you’ll receive your itinerary.
Enjoy your hassle-free private travel experience.
Here is the best part. You risk nothing by creating or joining a crowdfunded flight prior to confirmation. It is free to create, it’s easy to join, and it’s simple to cancel anytime up until confirmation.
Fly XO, and “X”-perience private aviation the way it was meant to be!
If you would like more information about this post, or any of our programs, please feel free to contact our team at +1-888-80-FLY-XO or schedule a call.