Fractional Ownership

Jet It and JetClub cofounders Glenn Gonzales and Vishal Hiremath have been recognized by Ernest and Young for starting and growing a hybrid ownership company based on the HondaJet series. The pair won the prestigious EY Entrepreneur of the Year 2021 Southeast Award. “An amazing recognition for the entire Jet It and JetClub teams,” Gonzales […]

On Wednesday, July 14, Wheels Up became listed on the New York Stock Exchange (NYSE) after announcing that it has officially closed a “business combination” transaction with Aspirational Consumer Lifestyle Corp., a Cayman Islands exempted special purpose acquisition company. First day trading on the NYSE was strong for what is now known officially as Wheels […]

There apparently are many people who want to own and operate a business airplane, but who pass on the opportunity because of the cost, the paperwork, or simply because they know they’ll never use the airplane enough to justify all the work or the money they’ll spend. Partners in Aviation (PIA) and the PIA Co-Ownership […]

Cessna Aircraft Co. handed over the keys to a milestone Citation jet, the 7,000th one delivered by the Wichita, Kansas-based company. At a ceremony at the factory, Textron Aviation celebrated with the new owner of the recently certified Citation Latitude, NetJets. The fractional ownership company in turn responded with an extension of its already sizable […]

Embraer announced this week that Mexican business aviation service provider Across has placed an order for 23 Embraer bizjets worth approximately $260 million. The contract includes eight Legacy 500s, eight Phenom 300s and seven Phenom 100E twinjets. Based at the Toluca International Airport, Across’ business includes charter, aircraft management, FBO services, a fractional ownership program […]

Pilots who want to fly the new Diamond DA62 twin but lack the $1.08 million to buy it now have a more affordable option. Aircraft broker LifeStyle Aviation announced this week that it’s adding the DA62 to its fold through its DiamondShare shared-aircraft program, pairing those who buy the plane with a small pool of […]

It might have seemed like a small semantic point at the time, but customers of OurPLANE are finding out that the planes were never really “theirs” after all. According to the contracts, the titles to the Cirrus SR22s in the program were held by the company, and when it liquidated last week, the “owners” joined […]

Fractional ownership plan OurPLANE declared Chapter 7 bankruptcy in September, leaving many of its aircraft “owners” with a lot less return on investment than they thought they’d bargained for. Founded in 2003, OurPLANE sold shares in Cirrus SR22s, but the intention was always to add Eclipse 500 very light jets (VLJs) to the business plan […]

When NetJets introduced large-cabin Gulfstream jets to its fleet, it set up a separate business entity to accommodate the new level of service. Though the fractional ownership model was essentially the same as for its smaller jets, there were significant differences — for example, fractional owners could specify pilots they wanted to fly with. The […]

Fractional operator Flight Options, based in Cleveland, has accepted the first of 100 Embraer Phenom 300s ordered in 2007. The Brazilian light jet is destined to be the mainstay of the Flight Options fleet. See the June issue of Flying for a full report on the Phenom 300 by senior editor Robert Goyer.