The newly launched program from Flexjet means fractional jet owners may now secure guaranteed access to two aircraft types with the purchase of a single 50 hour share.
Flexjet currently has 5 different Learjet and Challenger aircraft in its fleet from the light jets such as the Learjet 40XR to heavy jets such as the Challenger 605 (pictured above). It will also soon be adding the brand new Learjet 70 and Learjet 85.
FlexShare owners can customize the allocation of their annual hours among Flexjet's fleet, choosing a mix of 40/10, 35/15, 30/20 or 25/25 hours in each of two aircraft. This is a really useful feature for anyone who does a variety of trips of different distance or with different numbers of travelling companions. Having access to two different aircraft allows an owner to choose the smaller, more economical aircraft for shorter trips and the larger aircraft for longer range or when more people are travelling together.
"Flexjet offers the highest levels of customization in the fractional jet ownership industry, and truly delivers on the promise of flexibility its name inspires," said Deanna White, President, Flexjet. "Creating the FlexShare program – featuring the tremendous benefit of ownership in two different aircraft – is yet another example of Flexjet's dedication to creating custom solutions based on our owners' unique needs."
As part of this program, FlexShare customers pay the full purchase price for one share of a selected aircraft type based on vintage. The single, blended monthly management fee is determined by the aircraft types in the FlexShare mix, along with the selected division of hours: 40/10, 35/15, 30/20 or 25/25. Owners secure contracts for the hourly rates and the Fuel Component Adjustment (FCA) for both aircraft in their selected program.
Flexjet owners can also access multiple aircraft on the same day. They can also participate in Versatility Plus, a program enabling Flexjet owners to realize value from unused, allocated hours by placing them in a pool for exchange with other owners. Since its introduction in 2004, Flexjet says this program has returned more than $31.5 million back into the hands of owners who would have otherwise lost those hours.
Many fractional aircraft providers allow owners to upgrade or downgrade as needed to a plane that is a better fit for a particular journey. This is the first time we've seen a program offering two different aircraft built into the one fractional share.