Flights on fractional aircraft grew 5.2 percent from the beginning of the year through September.
It may seem like owning a private plane is the pinnacle of personal luxury, but many of those who can afford to do so are actuallyon Wednesday. Operators of such jets saw a 5.2 percent increase in flights this year through September, according to the industry analysis firm. And in the past four years, the growth of fractional flights has outpaced that of both charter flights and corporate-owned jets.
What Koe means is that some wealthy travelers tried out charter flights during the pandemic, and now they’ve upgraded to fractional ownership, which gives them a bit more access to and flexibility with flights. Meanwhile, some business travelers are looking for more privacy, and they’ve slightly downgraded to fractional jets as a way to avoid scrutiny by
The fractional ownership model allows someone to buy as little as 1/16th of a plane in exchange for flying time. For example, a mid-sizemay charge $1.7 million for that share and offer 50 hours of flight time a year. On top of that, there would be a fee of $20,000 per month and a cost of $6,000 per hour of flying, Nick Copley, the president of the luxury website Sherpa Report, told Bloomberg.
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