CONTRACT SUMMARY
AirShares Shared Ownership Agreements are written for a period of two to four years, giving you a specified number of hours each year depending on your AirShare size. There are three primary elements of the Shared Ownership Agreement:
Purchase and Disposition of the Aircraft - The Agreement establishes the terms and conditions of the transference of the AirShare from AirShares Elite to the Buyer. The Agreement specifies the share size, the representations and warranties of both parties, and the conditions of closing.
Management of the Aircraft - The Agreement outlines the primary responsibilities of using and managing the aircraft by the parties. It also includes indemnification clauses to protect all of the parties in the transaction.
Cross Lease -T he Agreement provides that the use of any other aircraft in the AirShares fleet ("SHAircraft") by the customer is governed by the same parameters as the use of an owned aircraft.
The AirShares Elite documents have evolved over the years with feedback from our customers to be as thorough, yet simple and easy to read as possible. If the AirShares program is attractive to you, our Sales Consultants will be happy to sit down with you and discuss the Agreements in detail.
- Equity Ownership and Exclusive Use License programs
- Financing available for qualified individuals
- 2 - 4-year term
- Comprehensive, all-inclusive management fees
- You can sell your share at any time
- Local and national interchange
- Liability and hull insurance included
- Ownership Loyalty program for renewal customers
- Equity returned at termination less 7% remarketing fee
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- Ilya S.
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