Western Aviation is offering a shared-ownership program that will serve two up to four owners per aircraft instead of up to 16 under a traditional fractional ownership program, the Houston, Texas-based aircraft dealer/broker and valuation company has announced. “We have seen a recent trend towards shared ownership, from both new buyers and existing aircraft owners, to reduce the capital outlay and carrying costs associated with whole aircraft ownership,” said Western Aviation president and CEO David Fisher.
Under the program, Western Aviation will source and purchase the aircraft. Also unlike traditional fractional programs, the owners will fly only on the jet they have ownership in and with their own pilots that the company recruits, trains, and employs. When the aircraft isn’t being used by either owner, it will be made available for revenue flights through our charter affiliates if the aircraft is certified as 135 capable.
“Our shared-ownership program leverages our extensive experience in whole-aircraft ownership and management and brings it to a much larger audience of prospective clients by removing half to 2/3 of the expense and risk of whole-aircraft ownership while providing what’s been missing from traditional fractional jet ownership—the enjoyment of flying on your own aircraft with your own crew from a local private terminal and hangar,” Fisher said. Additionally, Western Aviation will handle the sale of an owner’s half-interest thru one-quarter interest in a jet when the time comes and/or sell the percentage ownership if one owner wants to liquidate their interest.