What’s Next for Jet It Fractional Owners

Jet It fractional owners have options when it comes to navigating the company's shut down.

Craig Fuller

Saturday, May 27, 2023 at 06:44 PM ET

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Jet It’s fractional program offered direct ownership in an actual aircraft. [Courtesy: Honda Aircraft]

Key Takeaways:

Jet It fractional owners must immediately organize with their specific ownership groups, appoint a leader, and take swift action to manage their expensive aircraft and prevent escalating costs.
Primary options for the aircraft include selling it (recommended through a Honda dealer/broker), arranging a dry-lease with another operator like Volato, or having a subset of owners buy it outright.
It is crucial for owners to track their aircraft and engage an experienced aviation attorney to navigate the legal, corporate, and tax complexities of any chosen solution.
A key benefit is that fractional owners possess a direct asset, increasing their chances of recouping a significant portion of their investment, unlike members of jet card or charter programs.

See a mistake? Contact us.

Over the past few days, we’ve received a number of inquiries from Jet It fractional owner groups about what they should do to navigate the Jet It shutdown. While I am also navigating the same issues—I was a fractional owner—we’ve made some progress toward the end game.

Hopefully, by now all of the owners have had the chance to meet. We received a list of the individual owners from Jet It, along with contact information. If you’re an owner, you should organize a call with your specific owner group ASAP. You are all on the same team, now is the time to get a game plan together.