Fractional Jets Ownership is sometimes referred to as Fractional Jet Leasing or Jet Time Sharing.

A company or individual buys, or leases, a fractional interest in one aircraft just as they might acquire a partial interest in one condo unit.

People can use their own aircraft or another similar or identical aircraft a certain number of hours or days per year just as a condo owner can use the condo a specified number of days or weeks per year.

 In most programs, if your 1/8 interest aircraft is not available when you want it, you can have access to a larger pool of identical or similar 1/8 interest aircraft fractionally owned or leased by others. This concept is expressed in the logo.

Although individual deals vary, there is room for negotiation. In general, a buyer or lessor normally buys or leases a 1/8th interest in an airplane, and can have up to 100 hours per year of usage as part of the purchase.

 The cost of the 1/8th share depends on the airplane you choose.

You can sometimes buy or lease a 1/16th interest which would include 50 hours, or a 1/4th interest which would include 200 hours. A 1/16th interest in a Citation Ultra has been quoted at a cost of approximately $90,000, and a 1/4th interest in the new Boeing Business Jet at $12,000,000. Each deal is separately negotiated and some have buyback or cancellation provisions.

The fractional interest buyer or lessor will get a "turnkey" operation of aircraft, crews, scheduling, and maintenance on demand.

Naturally, the economics of each situation differs depending on the number of people who will use the aircraft, the value of their time to the company, and the dollars saved in airline tickets, hotels, etc. In general, the following guidelines are commonly used: