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 must urgently organize with their specific groups, locate their aircraft, and appoint a lead with aviation experience to swiftly decide on a plan to prevent accumulating expenses.
Owners have several options for their aircraft, including selling (preferably via a Honda-certified dealer), entering a dry-lease with another operator (like Volato's 90-day offer), or having one owner buy out the others.
Engaging an experienced aviation attorney is critical for navigating the complexities, though fractional ownership offers a better chance of recouping investment compared to jet card or membership programs due to direct asset ownership.

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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.