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:

Fractional owners impacted by the Jet It shutdown must urgently organize into owner groups, appoint experienced leaders, and locate their aircraft to strategize its future.
Key options for the aircraft include selling it (preferably through a Honda dealer), entering a short-term dry-lease agreement with another operator (like Volato's offer), or having one owner acquire the asset.
Owners should avoid delay due to accumulating expenses, secure the expertise of an aviation attorney, and seek specialists for maintenance and potential sale to navigate the complexities.
Unlike membership programs, direct fractional ownership means owners possess a valuable asset and are likely to recoup a substantial portion of their investment despite the current challenges.

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.