March 1998 Issue
Fractional ownership trickles down to the Cessna set. But itís not quite like buying a piece of a jet fleet.
In the world of biz jets, fractional ownership is the buzzword du jour.
The concept is simple enough. Rather than tying up a few million in a solely owned jet, a company buys a share of a single airplane thatís part of a larger fleet. The buy-in entitles the company to a certain amount of yearly fleet usage without the bother and expense of maintaining a flight department.
Evidently, plenty of companies find the fractional ownership numbers to their liking, given the astonishing success of NetJets, a share-a-jet marketing concept developed by Executive Jet Management, a management company based in Columbus, Ohio.
Last year, NetJet had 95 aircraft and has announced plans to buy a...
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