Saturday, April 7, 2012

Finally Some Great Economic News – New Pricing Packages for Private Jet Rentals Make Private Jets Affordable

 To Those in the 1% Below the Top 1 % of Course

Many people didn’t believe that the wealthy suffered along with everybody else when the Great Recession hit in 2008.  But that’s not true, they did.  An indication of how much they suffered showed up in the decline in time share ownership of private jets.

Oh the Horror!

In 2011, the number of share owners dropped to 4,677 world-wide, the lowest level in about eight years, according to Jetnet LLC, a market-research firm in Utica, N.Y. Some owners said they felt burned during the recession when they tried to sell back their shares and saw the values—which reflect conditions in the overall used-aircraft market—fall as much as 40% to 60%.

So what’s a rich person to do?  Well it turns out help is at hand.  The companies that provide private jet time share ownership have a new program, and its coming to the rescue of the very wealthy people who feel that regular airline travel is beneath them.  So for all you people waiting for the price of private jets travel to come down, here it is.

Flight Options LLC, a Cleveland, Ohio-based fractional provider, is courting fliers with what it calls a hybrid between owning fractional shares and buying a jet card. Its jet club membership provides access to its seven-passenger Embraer Phenom 300 jets, which aren't part of its card programs.

Travelers who want to fly 50 hours pay a $270,000 membership fee, plus $158,150 for the block of hours. It's a lower commitment than the $537,500 that Flight Options requires for a one-16th ownership share in the Phenom 300 jet, plus monthly management fees and other costs.

So go ahead and sign up now, before the word gets out.  And no, this site does not get a commission for recommending readers to pay $270,000 for the right to pay $158,150 for a block of hours in a private jet.  It’s just some we want to do to help the disadvantaged.

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