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Fractional ownership of aircraft is an arrangement in which multiple owners share the use and costs of purchasing and operating an aircraft. Several management companies provide fractional ownership programs for aircraft, including NetJets , Flexjet , Cirrus Aviation Services , and AirSprint .
PlaneSense is a fractional aircraft ownership program managed by PlaneSense, Inc. and based in Portsmouth, New Hampshire, United States.As of the beginning of 2020, they managed a civilian fleet of 44 total program aircraft, made up of 36 Pilatus PC-12 aircraft and five Pilatus PC-24 jets.
Air California 737-100 in 1969 at Orange County airport. Air California, later renamed AirCal, was a U.S. airline company headquartered in Newport Beach, California that started in the 1960s as a California intrastate airline. [1] [2] [3] The airline's home airport was Orange County Airport, now known as John Wayne Airport.
The eight-person aircraft costs $1,792 for the 71-minute flight – or $224 per person. There are no membership fees or transaction fees, as many competitors charge.
By directly owning their aircraft, airlines may deduct depreciation costs for tax purposes, or spread out depreciation costs to improve their bottom line. For instance, in 1992, Lufthansa adjusted its accounting to depreciate aircraft over 12 years instead of 10 years; the resulting drop in depreciation "expenses" caused the company's reported ...
By 2002, Flexjet had seen 20 percent annual growth since its founding. It employed more than 1,000 people, half of them flight crew members and operated a fleet of 105 aircraft to serve 640 owners. At the time, Flexjet held an approximately one-sixth of the total fractional market, which then amounted to 650 aircraft and 3,500 owners. [1]
In 1987, the NetJets program was officially announced becoming the first fractional aircraft ownership format in history. [13] Around the same time, painted on every NetJets US aircraft is a registration ending with QS, symbolizing the concept of selling quarter shares of an aircraft—a feature that is still representative of the NetJets brand ...
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