JetFly, a Luxembourg-based company set up in 1999, is offering fractional ownerships in single-engine turboprop aircraft.
Civil aviation authorities in Luxembourg (an EASA member state) consider holders of fractional shares private aircraft users, and as such not subject to restrictions of commercial flights under instrument meteorological conditions for single-engine aircraft. In this legal environment, JetFly operates a fleet of four Socata TBM 700s, one TBM 850 and five Pilatus PC-12s. It has two more PC-12s on order, one to be delivered this month and the other in October.
The company is offering shares of one-eighth, one-quarter, one-half or full aircraft ownership entitling the participants to a defined number of flight hours per year.
In addition, shareowners pay a monthly fixed fee to cover insurance, maintenance, pilots’ salaries and training, plus a variable amount per flight for fuel, engine reserve, landing fees, handling and air traffic control fees.
The aircraft have no fixed base and shareowners are not charged for positioning or return flights. Every shareowner is entitled to a certain number of flights in accordance with their shareholding; for example, a quarter share entitles the owner to 125 occupied flight hours per year.
JetFly shareowners, whether individuals or corporations, are based mostly in France, Switzerland, Belgium and Luxembourg. The customer base is expanding in the UK, The Netherlands, northern Italy and Germany. The most frequent destinations span Europe and North Africa. The company employs 20-plus pilots, all ATPL-rated with more than 5,000 flight hours. JetFly aircraft are normally operated with a single pilot, but a copilot can be supplied on request and at additional cost.
In April, JetFly joined forces with luxury travel provider Avolus to offer fractional ownership to the UK market. The same aircraft are included in the program and, according to the partners, they will be considered as operating under private rules because they will be registered and legally based in Luxembourg.