China’s first shared plane arrives at Haikou Meilan International Airport

China’s first shared plane arrives at Haikou Meilan International Airport

December 17, a flight ceremony for China’s first shared plane was held as a plane from Tojoy arrived at Haikou Meilan International Airport.

According to a Tojoy spokesperson, “the establishment of shared private planes in Haikou will open up the P2P (Peer to Peer) shared economy market in Hainan, it will offer consumers more diverse experiences and benefit the aviation industry across the province.”

Each plane is to be shared equally by 40 people, and each person can enjoy the plane service at only 2.5% cost of the total cost.

In the first batch of private planes from Tojoy there are 80 timeshare spots up for grabs, which includes 40 for a business jet and 40 for shared helicopter owners.

“Only invest 200,000 yuan for a shared helicopter or 2 million yuan for a shared business jet per person, you can enjoy the demand for fashionable and convenient special plane travel.”

Spokesperson for Tojoy

Future plans include setting up in 300 locations across the country with each city purchasing at least one shared helicopter and one shared business jet on average.

The successful introduction of this shared private plane model will further reduce the cost for entrepreneurs operating private planes while meeting their travel needs.

It will promote the development of general aviation-related urban infrastructure, airport facilities, flight services, aviation exhibitions and other industries, and the development of the Haikou Jiangdong New Are airport economic industry as a whole.

What is private jet timeshare, and who are they for?

According to Aircharter.com Private Jet timeshares are very similar to what is known as vacation timeshare properties, except that jet timeshares have to be established at what is called an “Aircraft Operator Company”. Owning a private jet requires maintenance, registration, crew & airport logistics, and many more accountabilities.

While it may appear as if a Private Jet Timeshare affords supreme convenience, the reality may be very different. The issue lies in how often you use the private jet.

Chartering a private jet is more cost-effective if a client is in need of only occasional charter services every year since timesharing encompasses many hidden costs that one wouldn’t expect or know about. Aircraft maintenance, logistics, operations, crew, and expenses are not something that an executive would want to have to deal with. It is definitely a full time job to maintain and operate an aircraft, so hiring an operator to handle your aircraft is a necessity.

Typically in the U.S. with Private Jet Timeshares, clients are responsible for paying 1/16th of the price a private jet (which will run to approximately $468,000.00). This allows unlimited access to any aircraft in the fleet of an operator with only 10 hours’ notice. Realistically, whether companies need to spend that much money on private jets or not is down to how often they need to use them. At these prices, an average client that charters a domestic 4 times/ year for 10 years will end up paying ¼ of the cost of Private Jet timeshares making them the least cost-effective solution.

Private Jet Timeshares are for clients who very frequently charter private jets.

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Related article: Latest updates on the Jiangdong New Area Haikou

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