Tag Archives: custom hangar space

Fractional Jet Ownership

12 September 2023   General

Perhaps you’ve always dreamed of owning a private jet, but the reality is it’s simply too expensive. For the vast majority of people the cost of owning a private jet is prohibitive, but that doesn’t mean your dream has to be out of reach. Things like fractional jet ownership, private jet charters, and private jet memberships are becoming more popular as people realize that they can use private jets without paying the full cost to own one. 

Fractional Jet Ownership

Similar to shared ownership for a home, fractional jet ownership is an arrangement created by several people who agree to share the costs of owning, operating, and maintaining an aircraft. Rather than singular ownership where the aircraft sits in storage for months on end, pitching in and sharing with a group makes it more affordable and also ensures the aircraft is used more frequently. It’s a great solution for everyone. 

Cost & Flight Time

Each fractional owner will have a specified number of hours that they can use the aircraft either each month or each year. If everyone owns equal shares in the aircraft then the hours will be split evenly. However, if someone purchases more shares than the other owners, they may be granted more hours due to them owning a larger percentage of the aircraft. 

The typical costs include:

  • The capital or acquisition fee
  • Monthly maintenance fee
  • Occupied hour fee
  • Other associated costs, like a monthly management or storage fee

The costs depend on what type of aircraft you want to jointly own, so please contact our team who can help you understand which costs are associated with which aircraft. 

Benefits

  • Privacy and convenience: Flying via commercial airports is stressful and you’re often subjected to cancellations and delays. Fractional jet ownership allows you to enjoy the privacy and convenience of flying private without being responsible for the full cost. 
  • Flexible availability: Last-minute change of plans or taking a trip with short notice won’t be a problem when you jointly own an aircraft. Buying a plane ticket at short notice isn’t always guaranteed because of availability, and last-minute tickets for commercial flights are extremely pricey. 
  • Tax deductions: When you own an aircraft, even if you own it jointly, you might be able to claim depreciation deductions on your federal tax return.

Alternative options

Chartering: Private jet charter is always an option, and while it may cost you more upfront, you won’t incur any of the costs associated with being a fractional aircraft owner. You can charter a private jet through a broker or contact us to learn more. 

Private jet memberships: A private jet membership allows people to access private jets by paying a monthly membership fee. If you fly often but don’t want to purchase shares of an aircraft, a private jet membership is an ideal option for you. 

For more information about fractional jet ownership, or if you have any questions, please contact our team at Monmouth Jet Center today. Discover why so many people come to us when they have questions about sharing the cost of a private jet. We look forward to hearing from you.

The Best Places To Visit In New Jersey: Explore New Jersey with Monmouth

5 September 2023   Monmouth Jet Center

If you’re planning a visit to New Jersey or the surrounding areas, Monmouth Jet Center is the ideal airport, offering convenience, reliability, and first-class service to all passengers. With so many wonderful places to visit in and around New Jersey, why not take advantage of our regional airport and everything it has to offer? 

The Jersey Shore: Atlantic City, Asbury Park, Cape May

Famous for its boardwalks and miles of beautiful beaches, the Jersey Shore is a popular vacation destination for families, friends, and solo travelers. Some of the most popular Jersey Shore destinations include:

Atlantic City: For those who want to hit the casinos and try their luck with gambling, Atlantic City has so much to offer. We recommend you also visit the Atlantic City Aquarium and enjoy the many waterfront dining and shopping spots. 

Asbury Park: A cute beachfront city with boardwalks, arcades, cafes, and more, Asbury Park is where you’ll find one of the best beaches in the state. 

Cape May: Located at the southern tip of New Jersey’s Cape May Peninsula, this city has a seaside resort and is known for its grand Victorian homes. You can enjoy great views across the Delaware Bay and the Atlantic Ocean from the Cape May Lighthouse. 

Block Island

Located just south of mainland Rhode Island, Block Island is a short journey from New Jersey, and it’s a popular weekend getaway spot where you can enjoy the dramatic cliffs, rocky beaches, and historic lighthouse. Outdoor enthusiasts will feel right at home on Block Island with snorkeling, bike riding, bird watching, sailing, kayaking, fishing, and swimming. 

NYC or Philadelphia

Monmouth Jet Center is conveniently located a short distance away from both New York City and Philadelphia. So whether you want to pop over to NYC for a day to see a show or do some shopping, or visit Philadelphia and take in the city’s fascinating history, both are made easy when you fly through Monmouth. 

Day Visits to New Jersey

Perhaps you live on the east coast and want to take a quick trip to New Jersey for the day. Instead of flying into Newark discover how convenient it is to fly into Monmouth Jet Center. No matter your final destination, we will help you arrange transport and ensure you get where you need to go. Don’t risk delays, cancellations, and other stresses that come from flying into larger commercial airports. Traveling should be fun and convenient, and that’s what you’ll find when you fly to Monmouth!

For more information about how you can utilize Monmouth Jet Center to explore New Jersey and the surrounding areas, or if you have any questions, please contact our team today. Discover why so many people choose us as their preferred airport when visiting New Jersey. We look forward to hearing from you.

The cost to buy, rent or build a hangar explained

9 March 2021   Hangar Space

If you’re in the market for hangar space, you may be wondering which option is best: buying, renting, or building an aircraft hangar. It’s essential that you keep your aircraft in a secure hangar to keep it safe from the elements and to keep it in the best condition possible. Depending on where you live, you probably have several choices, including buying or renting hangar space at a large commercial airport, or perhaps at a smaller executive airport. 

There are different cost implications for each of these options. In this article, we’ll explain the average costs associated with renting, buying or building a custom aircraft hangar, as well as what you can expect in terms of aircraft maintenance. We highly recommend having a comprehensive understanding of all costs involved before making your choice. 

How costs of airplane hangars can vary  

The cost of your hangar will largely be determined by what type of aircraft you have. If you have a plane you use for personal recreation and short business trips, your best option is probably renting hangar space. Many public airports build a surplus of hangars and you will most likely be able to find one to rent at a reasonable rate, and renting allows you to be flexible with moving your aircraft base from one location to another if necessary.

Corporate aircrafts are more high-maintenance than personal aircrafts, meaning they must be protected from the elements while not in the air, and they must be ready to fly at any given time. A hangar for a corporate aircraft will be more expensive than a hangar for a personal aircraft. In addition, we recommend hangaring corporate planes somewhere that’s serviced by an on-site aircraft maintenance team. 

Every airport will have their own hangar rental and purchasing costs that are influenced by a variety of factors, including tax rates, population density, local regulations, and the specifics of your aircraft. Location and convenience also factor into prices. 

Other factors to take in consideration 

While building custom hangar space is an attractive option because you can build it to your exact specifications, remember that you’ll be responsible for additional costs including building maintenance, repairs, insurance, and utilities. Building your own space also gives you the option to build designated spaces for maintenance. 

Renting is an appealing choice to most personal aircraft owners who use their planes for leisure and light business travel. However, before making a choice, find out what services are included in the rental price (like maintenance) and find out if the airport offers around-the-clock on-site aircraft support. 

For more information about hangar space at Monmouth Executive Airport, or if you have any other questions, please contact our team today. We look forward to hearing from you.