Fractional ownership group SkyShare this week introduced new financing options for its fleet of business aircraft. On Wednesday, the U.S. company unveiled terms that reduce the initial investment to be made by shareowners and cut some monthly management fees by reorganizing its fleet by aircraft size.
For aircraft offered through the standard SFX program, which includes the Pilatus PC-12 and Textron Aviation's Cessna Citation CJ2 and Excel light and midsize models, share prices start at $335,000. SkyShare now only requires 35% of that total ($117,250) as a down payment, with monthly finance payments starting at $2,354.
For the super-midsize and heavy aircraft offered through the recently introduced SFX+ program, shares begin at $950,000, with financing options based on down payments of $332,500 and $6,684 monthly finance payments.
SkyShare offers shares in increments of 1/16, 1/8, 3/16, and 1/4, conferring annual access to the aircraft ranging from 20 to 80 days. The ownership terms run for three years, at the end of which the company sells the aircraft and distributes funds back to owners, who have the right to opt out of the program early. Flight hour fees run from $1,500 for the PC-12 up to $6,500 for the G450.
Like owners of complete aircraft, fractional owners can receive bonus depreciation benefits under U.S. tax rules, which permit 60% of the initial investment to be depreciated in the first year of ownership, with the remaining 40% in subsequent years. “Our goal is to make private flight as accessible and beneficial as possible, ensuring clients can keep their money working for them while enjoying all the benefits of a personal aircraft fleet,” said Cory Bengtzen, CEO of SkyShare. “If you’re a small or medium business aiming to complete with a Goliath in your industry by doing more business face-to-face, here’s a brand new slingshot.”
Bengtzen founded the Salt Lake City-based company in 2009. It also offers aircraft management services under either Part 91 private or Part 135 commercial rules, as well as charter flight bookings under its Flight Simplified offering.