Why corporate travelers and wealthy flyers are turning to fractionally-owned private jets

Private-jet owner NetJets Aviation estimates that the average corporate jet flies fewer than 100 hours per year. Given that average flight times are close to two hours, this means these jets are in use for a total of only 50 days annually.

“I would argue that for most people who own their own airplane, it really doesn’t make financial sense for them,” says Patrick Gallagher, president of NetJets. 

To lure corporate clients and high-net-worth travelers who fly private, NetJets sells fractional ownership...