The decision to share a private aircraft is a complex one, and it requires considerable time and hard work to reflect carefully upon the various factors. Once the aircraft owners have made this decision, the next step is to determine the type of ownership structure that will be most suitable for potential buyers. Although it’s never been easier to make use of private planes through jet cards, private charter, and fractional ownership, the two main forms of sharing a private aircraft are co-ownership and joint ownership, each with its own set of advantages and considerations.

Co-ownership entails multiple companies or individuals coming together to share ownership of the private aircraft according to their travel needs. In this arrangement, each co-owner has the opportunity for immediate access of the private aircraft for their own use and for providing their own crew, service providers, and concierge team. It is important to note that aircraft owners cannot charge one another for the operation of the private aircraft. This distinction is good news for many high-net-worth individuals, as it highlights the independent nature of each co-owner and their responsibility for managing their respective crew and business aircraft operators.

On the other hand, joint ownership, as defined in the Federal Aviation Regulations (FAR), takes a slightly different approach. According to 14 CFR 91.501(c)(1), one of the joint aircraft owners employs and provides both the crew and the aircraft management company for the private aircraft, while the other joint owners contribute financially on a regular basis according to the terms outlined in the joint ownership agreement. In this scenario, all joint aircraft owners must be listed on the registration certificate of the private aircraft.