Fractional OwnershipOverview of Fractional Ownership
The title of a particular Piaggio is divided amongst a group of 2 to 8 owners, each making a one-time capital investment for their share relative to the value of the aircraft and number of flying hours they would like to acquire for each year. A 1/8th share provides 100 flying hours per year, 1/4 share 200 hours per year, etc.
The owners lease the share back to the fractional provider (Corporate Express), the management company responsible for providing complete turnkey aircraft management and administration on the owners' behalf.
Each owner pays a monthly management fee relative to their share to cover indirect operating costs which include pilots' salaries, training, administration, insurance, hangar, etc., as well as an hourly fee, which covers flight-specific direct operating costs such as fuel and maintenance.
When different types of aircraft become available in the fleet the owner can use them by transfering hours with a predetermined hourly rate.
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