“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
Jet Republic Launches 'Free to Fly' Program
Portugal-based Jet Republic's new "Free to Fly" program offers clients what appears to be a somewhat different twist on standard fractional-share deals. Buyers purchase an entire Learjet 60XR, which the company will buy back at 50 percent of original cost in five years. In the interim, buyers can enjoy tax depreciation benefits and fly 200 hours per year without paying hourly fees, a savings of about $1.8 million annually, according to Jet Republic. (More flight time is available at an hourly rate.) The deal includes a flight attendant on each trip and access to a worldwide concierge service.