Fractional ownership of assets is an American concept which is gaining popularity in and around Europe. This guide runs through the advantages and explains why fractional ownership of a private jet is a more efficient and cost-effective option.

Traditionally, if you wanted to use something, you had to buy the item and pay the price whether you used it once or a hundred times. The frequency of usage is irrelevant: the user has to pay the price to own the product.

In the past decade or so, fractional ownership of high-end products has gained momentum. It is an American concept which became popular in the 1990s, when different groups started buying holiday homes jointly in order to justify the cost, as they would not use the properties frequently.

This concept is gaining in popularity throughout Europe, though it is growing at a faster pace in the UK compared to the rest of the continent.

Fractional ownership of products involves buying a stake in an item instead of the entire item itself. This allows you to enjoy the advantages of owning an asset without having to pay for the wasted investment that comes whenever it is not being used by the owner.

An average private jet has a total capacity of 800 hours of potential flight time a year. But, according to the latest research, only 160 hours of flight time is used by its owners. This shows that a large number of hours are wasted by having to pay its maintenance and hangar charges without even using the aircraft.

In a time of global economic crisis, when most companies are cost-conscious and more risk-averse, fractional ownership of private jets is being increasingly considered by business executives, rather than fully owning a private aircraft.

Wholly owned private jets bring along a list of logistical challenges with them, such as scheduled maintenance, technical problems, maintenance charges, to name a few.

With fractional ownership of aircraft, you do not need to worry about any such issues. You can book an aircraft whenever you intend to travel, with a short notice period of up to 10 hours. Once you inform the private jet company about your travel plans, they will arrange an aircraft for you to travel in luxury and style to your preferred destination.