U.K. fractional ownership firm Just Plain Sense, operating only since mid-October last year, is already looking to increase assets in 2007 with two further helicopter acquisitions planned.

The Warwickshire based firm, which launched with a party for 450 guests at the Royal Leamington Spa Polo Club, promises a multi-millionaire's lifestyle at cut price rates.

It opened for business selling one sixteenth shares in assets including a B206 JetRanger; a B206 LongRanger and a Cessna 303 Crusader. Another LongRanger will feature among 2007 offerings and an Agusta A109 may be added to a portfolio package.

Shaun Harborne, md, says: "We don't operate as a charterer. We operate on a private ownership basis which removes the need for an AOC. Our members buy a share of the aircraft and fly as owners. The entitlement is three weeks a year. We package cars, aircraft, yachts and property as parcels of assets and one sixteenth shares are sold. The shares are valid for 36 months when the assets are sold and the residual value is returned to the shareholders in proportion with their stake."

He explains: "We are a logistics company that manages assets for its members. We make sure that the asset is there when members want to use it in accordance with the time allocation. Assets are put on the open market in the 34th month so there is a very clear exit strategy. Each share buys the owner three weeks use of the assets in one year, but owners can use their asset whenever they want. If there is no sale the asset is offered to members. If there is still no sale the asset is auctioned."

Members can choose to exclude an asset but aircraft have proved popular and Harborne says the first package largely taken up. Bookings can be made online.

Buy-in costs for a full one sixteenth share of the first three packages are UK#48,000, #75,000 and #100,000. The first package involves fractional ownership of a Ferrari F430, a Sealine F37, the B206 and a thatched cottage. Joining fee is #1,000 and annual corporate membership #750. The B206 seats pilot plus four passengers, has a cruise speed 110 knots, a 330 nm range and is valued at #240,000 with a one sixteenth share price of #15,000. Projected annual depreciation is two per cent, annual utilisation fee, #3,640, and projected residual value after 36 months (the sum estimated to be paid back) is put at #14,000. Assets in all packages are costed on a similar basis.

Harborne says: "Once people have enjoyed the basic package, we feel they will want to buy into new assets. We see a progression."

The company makes a management charge covering the cost of maintenance, insurance, cleaning and delivery. It also carries out aircraft management for private owners. One of the founders and operations director is Luke Needham who formerly worked with Sloane Helicopters.