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Elite Jets

Fractional Ownership

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Elite Jets unveils cost-cutting shared ownership
Business jet users and leisure travellers flying into and out of southwest Florida now have an affordable alternative to private ownership or fractional programmes through Elite Jets' shared ownership programme.
Director of aircraft management Peter Boyd.
Read this story in our January 2024 printed issue.

Naples airport-based Elite Jets now offers a shared ownership programme that allows private jet users to experience the freedom, flexibility and convenience of whole ownership without the sole responsibility for expenses.

Unlike the fractional ownership model relied upon by some jet card companies, the Elite Jets programme does not use customer revenue to support future flights. That business model has led some high-profile jet card operators to shut down, Elite Jets says, with others facing debt and fraud allegations.

"Shared ownership keeps control of decisions on aircraft management, operations, maintenance, flight scheduling and more where it belongs; in owners' hands," says director of aircraft management Peter Boyd. "At the same time, the costs of hiring a crew, hangar rentals, insurance, maintenance and more are dispersed, making private jet ownership far more attainable for both business and leisure travellers."

Elite Jets owns four Embraer Phenom 300s, an Embraer Legacy 500 and a Bell 407 helicopter, transporting business and leisure travellers to destinations across North, Central and South America. The shared ownership opportunity is available both for the Elite fleet as well as private jets whose current owners are looking for partners. The in-air commitment begins at 50 hours a month.

Owners who participate in the programme will have access to the Elite Jets fleet should their own aircraft require maintenance. At the same time, shared aircraft will also be made available to charter passengers, providing a steady revenue stream and generating a return on investment when not directly using the aircraft.

The new programme builds upon Elite Jets' recent addition of aircraft management services, also overseen by Boyd.

"Elite Jets delivers the highest level of safety and personal service for our clients, along with the best travel experience of any private jet charter in the US and beyond," says EVP Stephen Myers, CAM. "Our specialised operations, sterling reputation with the FAA and exceptional safety ratings place the business within the top five per cent in the nation for private aviation companies."

Elite Jets recently achieved Wingman status from the global air safety auditor Wyvern for air charter operators. It is also a platinum-rated charter operator through ARGUS and maintains a Stage II seal through IS-BAO.

"The airline industry is a trust business," adds Myers. "As we transition from a single-entity, company-owned charter service to a hybrid business model, we are redoubling our commitment to efficiency, excellence, transparency and, most important of all, safety."

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