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What’s Next for Jet It Fractional Owners

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

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

Key Takeaways:

  • Fractional owners must immediately organize into groups, locate their aircraft, and appoint experienced leaders to make decisions, rejecting calls for patience due to accumulating expenses.
  • Owners have several options for their aircraft, including selling it, dry-leasing it with another operator (e.g., Volato), or having a subset of owners purchase it.
  • Engaging a specialized aviation attorney is critical to navigate the complex legal, corporate, and tax issues involved, helping fractional owners leverage their direct asset ownership to recoup investment.
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.

Craig Fuller

A pilot for more than three decades, Craig Fuller is owner and CEO of FLYING parent company Firecrown Media.

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