FAQ's

• Why does the Bombardier Learjet 40XR make good business sense?
• What airports will you travel to – number and general locations?
• What kind of financing is available to owners?
• How does your program compare with the new business-jet charters cropping up?
• What are the tax advantages of owning part of an aircraft?
• Can a person buy or sell shares?
• Am I better off buying two 1/8 interests in two different planes, rather than one 1/4 interest in one plane?
• What happens if one of the other fractional owners does not pay their share? Can their bank repossess the plane including my share?
• Suppose someone else is using my aircraft when I want to use it. What then?
• How are my hours of usage calculated? Do they include “deadhead” time to get me to a destination or the time after leaving me off?
• If the aircraft is damaged, what do I do while it is being repaired?
• Will I be able to use my aircraft anywhere in the United States? How about Canada, Mexico or Europe?
• If I buy an interest, will I have any license obligation to the FAA or any other government agency?

Why does the Bombardier Learjet 40XR make good business sense?

The Company Jet utilizes the Bombardier Learjet 40XR because of its economical cost of operation and its versatility. The Learjet 40XR has the capability of carrying up to seven passengers and plenty of baggage. Because it is cost effective to operate, our owners can afford to send as little as one passenger on board, bring in a group of customers for a plant tour, or fly a team to visit a plant or customer. This versatility allows The Company Jet to meet its customer’s needs.

What airports will you travel to – number and general locations?

Commercial airlines will take you to one of 500 airports in North America. Through The Company Jet, you have access to more than 3,500 airports in North America and to even more destinations worldwide.

What kind of financing is available to owners?

We have partnered with Bank of America to bring you the most efficient, affordable fractional jet ownership program flying today. 

Please read more about how Bank of America makes financing for Fractional Shares fly in the attached article: "Air Services Gives Small Business Lift."

How does your program compare with the new business-jet charters cropping up?

The Company Jet is an ownership program that is designed to meet business needs. Most other programs are designed to meet the individual traveler’s needs. Our typical trip will depart to the owner’s home airport and return with that owner within one day. Our passengers are both middle and upper management personnel that are traveling for business reasons. Because our program is designed in this fashion, it saves the owner money as compared to other fractional and business-jet charter programs.

What are the tax advantages of owning part of an aircraft?

The Company Jet qualifies for the 2010 bonus depreciation program because all aircraft are brand new. We anticipate the Bombardier Learjet 40XR will have an excellent resale value. This, combined with the depreciation, results in a very low cash flow requirement.

For more specific advantages for your business, we recommend talking to a lawyer or firm with aviation experience like Barnes & Thornburg LLP.

Can a person buy or sell shares?

Owners can sell or transfer their shares to other shareholders subject to their terms of the contract.

Am I better off buying two 1/8 interests in two different planes, rather than one 1/4 interest in one plane?

The Company Jet programs allow its owners the use of two airplanes on the same day. Therefore, it is unnecessary to purchase two 1/8 shares instead of one 1/4 share.

What happens if one of the other fractional owners does not pay their share? Can their bank repossess the plane including my share?

No, a bank can only repossess the share that is in default. If this does happen the bank must abide by the terms and conditions of the contract so the other owners are not affected.

Suppose someone else is using my aircraft when I want to use it. What then?

Through our sister company, Northern Jet Management, The Company Jet  has numerous aircraft in our fractional ownership program. There will always be an aircraft available to you.

How are my hours of usage calculated? Do they include “deadhead” time to get me to a destination or the time after leaving me off?

The Company Jet is designed to meet the needs of businesses which primarily take trips that are out and back from their home airports in one day. Your flights are based on flight time with 'block time' add on.  There is also no minimum leg time.  Therefore, this program provides a very low cost for business users. If an owner is dropped off and the aircraft is flown home, then the owner is billed airtime back to its home base. There is no charge to position the aircraft for pick up at home airport.

If the aircraft is damaged, what do I do while it is being repaired?

The Company Jet owners will have use of all program aircraft and we are obligated to provide the aircraft within a 12-hour notice.

Will I be able to use my aircraft anywhere in the United States? How about Canada, Mexico or Europe?

Aircraft used by The Company Jet can be used throughout North America. Also, The Company Jet fractional owners will have access to aircraft capable of flying to any worldwide destination.

If I buy an interest, will I have any license obligation to the FAA or any other government agency?

Aircraft used by The Company Jet are owned and operated by Northern Jet Management.  All license obligations required by government agencies are overseen and managed by Northern Jet Management.