Anybody know about this fractional ownership company?

[ericg]

I'm thinking about purchasing a fractional ownership in a plane with this company:

http://fractionalassets.net

The CEO is the former CEO of Air Shares.

Thoughts?

 

[Zeldman]

Why is he the former CEO of Air Shares.? Moving up or started own company or mismanaged former company?

 

[flyingron]

Why is he the former CEO of Air Shares.? Moving up or started own company or mismanaged former company?

Because Air Shares Elite went bust three years ago.,
I don't think the current scheme has much better hope.

 

[Matthew K]

I'd not trust the people if nothing else because of the website someone spent maybe 5 minutes making.

 

[JCranford]

Anybody still using the word 'paradigm' is suspect.

 

[frfly172]

If it didn't work the first time,what makes it different this time. Remember he's playing with your money.

 

[paflyer]

"AirShares Elite members were required to purchase shares in the company's Cirrus SR22s, but the airplanes legally remained under title of the fractional ownership provider and not the share buyers. Members also paid monthly management fees and hourly occupied rates to AirShares Elite."

So give them $50K, and they let you fly their plane at some ridiculous hourly rate?