December 18, 2024
Upstart operator and jet card broker Fly Alliance will offer a fractional ownership option on its Citation XLS Gen II, Latitude, and Longitude fleet, with deliveries beginning in 2023.
Fly Alliance, which announced its first-ever order for new private jets during NBAA, has confirmed they will offer access via fractional ownership.
Previously the provider had said the new aircraft would be used for on-demand charter and jet card members.
Alliance, founded in 2019 by former executives of Dumont Aviation, ranks in the top 20 largest charter/fractional private jet operators, according to Argus Traqpak.
According to Alliance President Christopher Tasca, “The (new) aircraft will be available for charter through jet card membership and fractional ownership. We are working through the details on all now.”
The provider has been selling fractional shares on preowned aircraft.
The Fly Alliance purchase from Textron includes firm orders and options for 12 Cessna Citation XLS+ Gen 2s, six Citation Latitudes, and two Citation Longitudes.
Fractional ownership is experiencing a renaissance. According to the 2022/23 Jet Card Report by Private Jet Card Comparisons, the percentage of subscribers who have shares tripled year-over-year.
In the past 18 months, two new entrants, Volato and Jet Token, have launched fractional ownership programs, while FlyExclusive, one of the nation’s largest charter operators, said it is also entering the fractional share market.
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