Paying for the use of someone else’s aircraft when they are not in use is a form of private jet charter.
One-time charter agreements with no financial commitments are common.
Buying and operating a plane on a fractional basis means splitting the total cost with other people.
The fixed expenditures (such as aircraft purchase and depreciation, pilot pay, aircraft maintenance
and insurance) are paid for by the owner, hence renting a private jet is sometimes referred to as
“subsidized flying.”
When you use a charter plane, you simply pay for the cost of the fuel, airport taxes, and any other
incidentals.