Flying a Fraction of an Airplane: Part III

Isabel Goyer

Thursday, May 01, 2003 at 08:00 AM ET

Verified

OurPlane Fractional Ownership

Key Takeaways:

The OurPlane fractional ownership program successfully allows pilots to access brand-new, well-equipped small aircraft, providing a "virtual sole-ownership" experience despite having multiple owners.
The program effectively manages aircraft availability through tiered access levels and usage rules, ensuring consistent and convenient access for participants.
Owners benefit significantly from flying reliable, modern aircraft with advanced avionics, and gain the flexibility to utilize similar program aircraft at various company locations.
The author concludes that fractional ownership for small airplanes is a viable and valuable option, offering a path to a higher-quality flying experience for pilots who might not otherwise afford a new aircraft.

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I recently finished a half-year evaluation of the OurPlane fractional ownership program, taking control of an eighth share in a brand-new Cessna Skylane. I was looking to see if fractional ownership programs, which are modeled loosely after those used for professionally flown business jets, like NetJets, could translate to owner-flown small airplanes.

The OurPlane program sells one-eighth shares in Cessna Skylanes, and Cirrus SR20s and SR22s (among other types), and bases the airplanes at full-service FBOs. Owners buy a share of the airplane and retain equity throughout the program (though OurPlane retains the title). Owners pay a buy-in fee (around $40,000 for a brand-new Skylane) and ante up for hours flown (around $110 for the Skylane) and for management of the airplane ($425 per month for the Silver-level share I had). At the end of the five-year term, the owners can either cash out their equity or roll it over into a new model. My Skylane was originally based at Danbury, Connecticut; after a month it moved to Oxford, Connecticut. It’s kept in a heated hangar and rolled out by the FBO, so it’s ready to go when the pilot arrives. Red carpet service.