President Bill Clinton, Lin-Manuel Miranda, Bradley Cooper and Karlie Kloss are among the speakers at the fifth annual T&C Philanthropy Summit
Flexjet, which sells fractional shares, leases and jet cards, is joining title sponsor U.S. Trust, Bank of America Private Wealth Management and City of Hope, De Grisogono, Flexjet, and 1 Hotels & Baccarat Hotels at the luxury lifestyle magazine’s fifth annual philanthropy confab. Hamilton’s Lin-Manuel Miranda, a Pulitzer Prize, Tony-, Emmy-, and Grammy Award-winning composer, lyricist, and actor is headlining the event being held today.
The two biggest players in fractional jet ownership have different approaches to the jet card segment
The vast majority of jet cards are marketed by charter brokers, however, two of the most prominent names in the jet card space – NetJets and Flexjet – are in fact fractional aircraft operators with their principal business selling fractional shares and leases in whole aircraft. Fractional ownership entails a commitment of three to 10 years whereas, with jet cards, we have seen programs with commitments starting as few as 10 hours and $25,000.
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If you are flying between 10 and 100 hours per year (fractional ownership starts at 50 hours and requires a three to five-year commitment plus financing your share) jet cards and on-demand charter are generally the two easiest options. While on-demand charter enables you to choose a specific aircraft, due to operational reasons the aircraft you select sometimes changes, and if your broker is sourcing your plane from a fleet operator, often times your tail number isn’t confirmed until close to your flight time. With jet cards you are more typically buying into a jet size category – Light Jets, Midsize Jets, etc. although some programs offer specific jet types.
Flexjet’s new terminal will be dedicated for its fractional shareowners, program and jet card members. Dallas Love Field is one of the busiest private aviation airports in the U.S.
When a private jet is not enough, you need a private jet terminal. While FBOs – the industry term for private jet terminals – are a world away from commercial airline terminals, at busy airports during peak times and weather disruptions, yes they can get crowded. Flexjet LLC, today announced the relocation of its Dallas operations to the Braniff Centre, a 26-acre redevelopment project on Dallas Love Field (ICAO: KDAL) creating a private terminal exclusive to its customers..