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I took a flight on a $10 million private jet, and it shows why one business case for private-plane ownership makes perfect sense

I took a flight on a $10 million private jet, and it shows why one business case for private-plane ownership makes perfect sense

Here it is, the Embraer Phenom 300 in Airshare's brand new white, blue, and gold livery.

Since it was launched in 2009, the Phenom 300 has been one of the most delivered private jets in the world, with more than 500 delivered.

The jet is a stretched version of Embraer's Phenom 100. The 300 can comfortably carry eight passengers, while the 100 carries 5.

The Phenom 300 has a wingspan of slightly more than 53 feet, with a generous range of 1,970 nautical miles.

It can fly up to 495 miles per hour, with a cruising altitude of 45,000 feet — not too shabby for a small business jet.

It's classified as a light jet, but it certainly feels like a more formidable plane than that category might suggest.

The plane is powered by two rear-mounted Pratt & Whitney PW535E engines.

This particular Phenom 300, which I had a chance to ride on during a test flight, is flown by Airshare, a fractional ownership company.

$This particular Phenom 300, which I had a chance to ride on during a test flight, is flown by Airshare, a fractional ownership company.$

Fractional ownership allows an individual or a business to purchase a share of an airplane, which is operated and maintained by a company like Airshare. You can fly a certain number of hours each year, depending on the size of share you buy. Airshare also manages peoples' own planes for them, providing pilots and maintenance.

As you walk up the stairs onto the plane, you'll see its two-person divan couch.

If you turn left, you'll come across a drinks cooler and a counter — basically a miniature galley — and the cockpit.

Turn right, and you've made it to the jet's surprisingly spacious cabin, considering the jet's size.

The cabin is sleek and comfortable, with six bucket seats (the other two passengers can sit on the couch, for a total of 8).

This layout has two sets of seats facing each other, with two forward-facing seats behind them.

The cabin also has sizable windows, which lets in plenty of light. Don't worry, though: if it gets too bright, you can pull the built-in window shades down.

Tray tables fold down and store in the side panels near each seat. The seats facing each other share one larger table, so you can dine with a partner.

During our test flight, I sat in the forward-facing seat on the right side of the jet.

But all of the seats were equally comfortable.

Embraer recently released a new version of the jet, the Phenom 300E. It's basically the same plane, but features an updated interior and seats.

We took off from Teterboro Airport in New Jersey, near New York City, just a few minutes after I arrived. It was nothing like the usual process at the airport.

While our departure was a bit bumpy, partly thanks to the fact that it was a warm day, it was smooth sailing once we got a bit further from the airport and started to climb.

Landing was even easier; we touched down with hardly a bump.

Although Airshare has two pilots operate every flight, the Phenom 300 is certified for single-pilot operation, too.

All in all, it was a fun and impressive ride. The ability to hop on the plane and leave whenever, compared to sticking with a schedule, and the plane's ability to access ten times as many airports as most commercial jets, reminded me of the business case for access to private aviation, whether through fractional ownership, charters, or outright buying a plane.

Despite their reputation for being opulent extravagances, most private jets are used by businesses to help executives and managers reach far-flung sites in a more efficient way than flying commercially.

For instance, a sports recruiter visiting multiple remote campuses, or a franchise owner inspecting several sites, can visit each location over a day or two, while coordinating with scheduled commercial flights, and driving to and from commercial airports, can take a week or more — of the roughly 5,000 public airports in the US, only 10% have commercial service, and many of those are just a few flights each day.

Fractional ownership is a viable situation for people who need to fly in a business jet, but either don't fly enough to warrant purchasing a plane outright, or don't have access to the capital required — a Phenom 300 is listed at around $9.45 million dollars.