Charter & Fractional
Major providers mature as local frax firms hatch
Executive Jet Aviation owner and CEO Richard Santulli brought the fractional-ownership concept to the business aviation community in the mid-1980s.

Executive Jet Aviation owner and CEO Richard Santulli brought the fractional-ownership concept to the business aviation community in the mid-1980s. Santulli created a program called NetJets, selling aircraft in shares ranging from 1/16ths to halves.

Santulli’s program used existing aircraft acquisition concepts, including shared aircraft ownership, and provided for the management of the aircraft by a separate, dedicated company. The aircraft owners participating in the program agreed not only to share their aircraft with others having an ownership interest in that aircraft, but also to lease their aircraft to other owners in the program.