Fractional vs. Charter Flights: Which One is Right for You?

Some people who don’t fly often or don’t have a lot of disposable income might not have heard about fractional jet ownership. It’s a fairly niche market. However, some individuals and families love to become a part of a fractional jet ownership group.  

Fractional jets may not be for everyone, but if you have the money and the inclination to look into one, you may find that it adds a lot of joy and pleasure to your life. In this article, we’ll talk about fractional jet ownership and why you might prefer it to charter flights. We’ll also look at instances where the latter option may work out better for you.

What is Fractional Jet Ownership?

To begin, let’s define fractional jet ownership to make sure you know what we’re talking about. Essentially, what it means is that you’re buying into an ownership group in the same way you would with a timeshare. Instead of getting a vacation property where you can spend a couple of weeks a year, though, you’re buying a private plane that you can use occasionally.

Since you are not the sole owner of the plane, you’re not able to use it at all times. Much like a timeshare, you will likely have to talk to the other owners to reserve times when you can access it. There will probably be an informal calendar with dates to which you will all agree.

It starts at about $100K to buy into a fractional jet ownership group, and the price just goes up from there. If you pay more, then you can usually use the jet more times within a calendar year.

However, the price you’re paying is not just for the use of the jet. It is also for the maintenance of it which can be just as costly.    

What About Charter Flights?

Of course, you also have the option of using a charter flight if you want to get somewhere in a hurry. In that instance, you simply contact a private company that runs charter flights and direct the pilot where you would like to go. You can think of it like Uber or Lyft, except you’re hiring a private plane instead of a car.

The main difference between charter flights and fractional jet ownership is that you are not buying into a charter flight when you contact the company and tell them you need a ride. While charter flights are relatively expensive, they are not a recurring expense.

You must pay the agreed-upon fee to use the charter flight, but then, once you’ve settled up with the company, you have no further obligation to them. This is unlike fractional jet ownership, where part of what you’re paying for is the storage and maintenance.   

Times When Fractional Jet Ownership Makes More Sense

As you might expect, there are times when it makes more sense to buy into a fractional jet ownership group and others when you may prefer a charter flight. If you like the idea of owning a jet, even in part, then fractional jet ownership might appeal. It’s basically a way to have a little taste of luxury without needing to pay the full price tag to buy a jet on your own.

Because of this, the individuals who are usually part of these ownership groups are those who have a good amount of disposable income but are still not exceedingly wealthy. A millionaire might buy into a fractional jet ownership group, but someone who has tens of millions might simply buy a private jet outright.

If you like the idea of having a nice, luxurious weekend to yourself once or twice a year to fly to Vegas or the Maldives, then you might be a candidate for this kind of group purchase. That’s provided, of course, that you have six figures to spend on this kind of thing.

When It’s Better to Use a Charter Flight

As for charter flights, the main selling point is that you can call for one at any time, from practically anywhere in the world, and you’ve got yourself a private aircraft, provided you have the money to pay for it. This might appeal to individuals who are well set up financially but who don’t necessarily want to buy their own plane.

What’s nice about chartering a private plane is that there’s no recurring expense. Once you pay the company you hired, you do not have those pesky maintenance and storage fees that are a part of the package with fractional jet ownership.

Which is the Better Choice for You?

There is no denying that fractional jet ownership and chartering a private plane are both luxurious prospects. Both will cost you more than taking a commercial flight, regardless of whether you get a first-class or coach seat.

That means someone who doesn’t have much money will probably not have either of these options. Assuming you are in the kind of tax bracket where you can do either of these things, you are probably living in opulence.

If you find yourself trying to choose between these two prospects, maybe you will opt for fractional jet ownership because you are an owner of a big-ticket luxury item, even if you have several other owners as part of the same group. You can still tell your friends that you own a jet, even if you can’t necessarily use it at every moment.

You might also like to purchase fractional jet ownership as part of a gift for a loved one. Who wouldn’t like access to a private jet a couple of times per year?

The individuals who are probably going to prefer chartering a private plane whenever they feel like it are those who want to be more spontaneous. If you’re more likely to want to pick up at a moment’s notice and fly across the country, a charter flight makes more sense than having access to a plane on a date that you set weeks or months ahead of time.