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Time-Sharing Jets Bombardier Flexjet's Fractional Ownership Following the tragedy of September 11, 2001, airports have become increasingly harder to navigate. At today's airports, passengers find themselves traversing a maze of security measures that seem to be highly effective for raising tempers. In fact, by the time the business executive navigates this minefield, a considerable amount of energy and time have been spent. Moreover, the stay at the airport typically exceeds actual flying time. After considering this scenario, it would be nice to have access to a fleet of your own personal aircraft. No longer a fantasy, now owning a fleet of aircraft is a real possibility. Bombardier Flexjet, a Dallas-based company, guarantees access to its aircraft 24-hours per day on as little as four hours notice. Flexjet's fractional ownership requires predictable monthly management and hourly usage fees from its customers, who do not have to concern themselves with aircraft maintenance, flight crews, hangars, fuel and insurance since they already are included. In May 1995, Bombardier Flexjet, the third largest producer of civil aircraft in the world, began its fractional ownership program. Growing approximately 20 a year for the last six years, Flexjet is aiming to become the preferred fractional jet ownership program in the world. In fact, Bombardier recently introduced Flexjet Europe and Flexjet Asia-Pacific. In the six years that its fractional ownership program has been in effect, the number of participants, also known as owners, has grown from 22 to more than 700. And, the original fleet of aircraft has increased from 15 to 105. Currently , the Bombardier Flexjet fleet, which meets the highest safety standards in the world, consists of the Learjet 31A, which is the fastest jet in its class and economical for short jaunts; the Learjet 45, featuring an all-new design that provides exceptional cabin comfort, including a private lavatory and extra room for baggage; the Learjet 60, which boasts a combination of range, speed and comfort; the Challenger 300, the newest addition to Flexjet that carries up to eight passengers and offers a balance between performance and size' the Challenger 604, which can carry nine passengers plus a flight attendant and offers a wide-body cabin for extra comfort on long business trips. The cost of fractional ownership with Bombardier Flexjet consists of three components: the initial capital investment, monthly fees and flying time. Owners have the ability to purchase from one-sixteenth of the jet all the way to 50 percent. Regardless of the level, owners can access multiple aircraft, upgrading or downgrading at any time. At $7,700 per month (after taxes), the cost of fractional ownership for one-sixteenth of a jet is comparable to the ever-increasing cost of flying business and first class.

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