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See inside a $23 million private jet that Fortune 500 companies or wealthy travelers can split to fly cheaper
See inside a $23 million private jet that Fortune 500 companies or wealthy travelers can split to fly cheaper
Taylor RainsOct 19, 2024, 17:23 IST
<p class="ingestion featured-caption">The author toured a Flexjet Praetor 600 that costs about $10,000 hourly for fractional ownership.Taylor Rains/Business Insider</p><ul class="summary-list"><li>Flexjet sells partial ownership of private planes for a set number of flying hours.</li><li>This allows people to fly privately for cheaper than the cost of full jet ownership.</li></ul><p>Owning a private jet is financially impossible for most people. But there's another way to fly private that can be much more accessible: <a target="_blank" class href="https://www.businessinsider.com/private-jet-firm-volato-selling-5-million-hondajet-fractional-ownership-2021-11">fractional ownership</a>.</p><p>This model allows companies or individuals to split <a target="_blank" class href="https://www.businessinsider.com/embraer-phenom-300-airshare-private-jet-review-photos-2019-9">"ownership" of a private plane</a> by buying into a set amount of yearly hours and then paying the hourly rate when they fly. The operator covers ongoing costs like staffing and maintenance.</p><p>This is the <a target="_blank" class href="https://flexjet.com/blog/runway-guide-fractional-private-jet-costs-and-benefits/">core</a> business model of Flexjet, a US-based private aircraft operator with a <a target="_blank" class href="https://flexjet.com/fleet/">fleet</a> of more than 270 planes. It offers a range of options, including Embraer light jets, Sikorsky helicopters, Bombardier Challengers, and the <a target="_blank" class href="https://www.businessinsider.com/see-inside-65-million-gulfstream-g650er-jet-owned-by-billonaires-2022-8">ultra-long-range Gulfstream G650</a>.</p><p>Among Flexjet's most recent additions to its US portfolio is the <a target="_blank" class href="https://www.businessinsider.com/see-inside-21-million-embraer-praetor-600-with-advanced-tech-2024-7">$23 million Embraer Praetor 600</a>. It's an improved variant of Embraer's <a target="_blank" class href="https://www.businessinsider.com/embraer-praetor-500-praetor-600-private-jet-2018-10">Legacy fleet</a> and builds on its Praetor 500 sister jet with ultramodern avionics, a larger cabin, and a longer range.</p><p>Business Insider toured a Flexjet Praetor 600 at Westchester County Airport in New York on Wednesday to see what it offers customers.</p>
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The Praetor 600 is part of Flexjet's "fractional jet ownership" program.
The Praetor 600 is just one of hundreds of Flexjet's fractional owner planes.Taylor Rains/Business Insider
Flexjet's fractional owners are 80% Fortune 500 companies and 20% high-net-worth people, Sibilla said.
First launched in June 2019, the dual-engine Praetor lists for about $23 million.Taylor Rains/Business Insider
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Buyers pay around $10,000 an hour to fly on the Praetor 600.
Inside the Praetor 600.Taylor Rains/Business Insider
Flexjet's Praetor 600 can fly up to about 4,600 miles, or nearly eight hours nonstop.
Sibilla said customers use fractional ownership for both business and pleasure.Taylor Rains/Business Insider
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The plane can carry two pilots and up to nine passengers.
Flexjet has an interior design center in Ohio.Taylor Rains/Business Insider
The divan can be converted into a bed.
Flyers have a lie-flat bed option on the Praetor 600.Taylor Rains/Business Insider
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Customers can cater almost any food.
Catering was set up to demonstrate part of a cabin server's job, though servers are not staffed on the Praetor 600.Taylor Rains/Business Insider
There is a lavatory and storage room in the back of the jet.
The sink and mirror are opposite the toilet.Taylor Rains/Business Insider
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The cockpit has advanced avionics for safety and efficiency.
The cockpit does not have a yoke.Taylor Rains/Business Insider
Flyers can use a private terminal in some cities.
Flexjet has private terminals at Teterboro Airport in New Jersey, Dallas Love Field, and Van Nuys Airport near Los Angeles, and it plans to add more in Florida, Montana, and Arizona.Taylor Rains/Business Insider
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It's easy to see the benefits of fractional ownership.
The galley had plenty of storage and meal prep equipment.Taylor Rains/Business Insider