Owner-Flown Fractional Jet Program Launches

Ascension Air, the Atlanta-based Cirrus SR22 timeshare provider, has struck a deal with ONE Aviation to add the Eclipse 550 very light jet to its fleet. It marks the first time any fractional-ownership company has offered shares in jets for the owner-flown market.

The Eclipse owners can choose to earn a type rating in the jet at Simcom in Florida or they can opt to fly with a qualified safety pilot for an additional fee.

Ascension president and CEO Jamail Larkins said the first Eclipse jet to join the fleet will be based at Atlanta DeKalb-Peachtree Airport, with 1/6th shares available for $520,000. A monthly management fee of $2,995 will guarantee owners 50 days of availability per year. In addition, share owners will pay $620 an hour with no cap on how much they can fly.

Founded in 2004, Ascension Air currently operates a fleet of Cirrus SR22T single-engine models from its base in Atlanta and Fort Lauderdale, Florida.