Charter operator Jetvia has launched a fractional ownership program for its Bombardier Learjet 60 fleet. Announcing the new program on Thursday, the Texas-based company said it will offer financing based on a 25% down payment on shares at a 5% interest rate.
Jetvia, which is providing the financing in-house rather than through a third party, said its approach would lower the barriers to private jet ownership. It contrasted its offering with that of its rival SkyShare, which offers third-party financing with a 35% down payment.
The new offering includes a new daily rate option of $6,000. Alternatively, owners can pay a monthly management fee of $12,500 for a one-sixteenth share.
The company, which recently rebranded from ATI Jet, said the daily rate would be advantageous for customers who want to fly legs exceeding two hours by allowing them to pay only when they fly rather than committing to fixed fees each month. For example, it would benefit a client flying from Aspen to Miami round-trip five or six times per year.
In addition, the Jetvia program guarantees aircraft availability with 72 hours notice, with no repositioning or overnight charges. The company said it would guarantee the buyback of fractional shares at a 50% repurchase price.
Jetvia currently operates 20 Learjet 60s and said it plans to add 30 more by 2028. Subject to demand, it may opt to add three larger aircraft to the fleet by 2026. The company said it can provide more ready access to older pre-owned aircraft than larger fractional ownership groups such as NetJets and FlexJet facing delivery delays.
“Our goal at Jetvia is to provide unparalleled access to private aviation through customized options for our customers,” said Jetvia CEO Lyle Byrum. “The new in-house financing option makes it easier than ever for individuals to experience the benefits of private jet ownership.”