Building on its successful fractional equity program, Dallas-based PlaneSmart has launched a new scheme to get pilots into a late-model Cirrus. The new program allows customers to sign onto a fractional lease, as opposed to purchasing an equity position in an aircraft. The result is lower up front cost, though the monthly management cost is somewhat higher. As an example, customers who sign on for 150 hours of annual flying time are charged a $3,500 sign up fee and pay $2,588 per month — and $125 per hour direct operating costs. That works out to a net of $345 per hour. PlaneSmart president Mike Brosler also reports the company currently operates 12 airplanes and is nearing completion of a new 12,000-square-foot facility at Addison Airport (KADS).