Stuart, Florida-based aviation business provider Premier Private Jets has added a fractional ownership program called PremierShares. The program offers shares in the company’s owned fleet of Hawker 800-series midsize jets.
"Our objective is to put private aviation within reach for companies and individuals that might not have considered this possible," said Premier Private Jets CEO and founder Josh Birmingham. "We started with economical charter and jet cards and now have a compelling fractional product.
"These are not brand-new aircraft, by intention. Shares are roughly half the cost of comparable new aircraft and experience less depreciation over a three-year contract period. They offer a more flexible ownership option than traditional five-year fractional lock-up periods. That adds up to substantial savings while giving passengers all the capability of a new aircraft."
PremierShares also uses a day-based rather than hourly model. A one-sixteenth share allows for 20 days of use per year, while a one-eighth share provides 40 days. The company claims this will allow for “substantial savings” for potential customers.
Founded in 2013, Premier Private Jets operates an air charter fleet of light, midsize, and large-cabin jets.