PRJets: Shared Jet Ownership for Act 60 Investors
Introducing a revolutionary approach to private aviation that combines the benefits of aircraft ownership with the efficiency of shared access, specifically designed for Act 60 investors requiring seamless connectivity between Puerto Rico, the United States, and Europe.
The Aviation Challenge Facing Act 60 Investors
Full Ownership Burden
Individual aircraft ownership requires significant capital plus huge annual fixed costs, creating significant financial strain even for successful investors especially if the aircraft is underutilized (often the case).
Charter Market Failures
Commercial charter services suffer from unpredictable availability, surge pricing during peak periods, and limited aircraft positioning (paying extra for empty legs and preventing spontaneus trips), particularly for Puerto Rico routes.
Geographic Connectivity Gap
Act 60 investors require reliable, efficient travel between Puerto Rico, major US business centres, and European financial hubs—a mission profile poorly served by existing solutions.
PRJets Solution: Intelligent Aircraft Sharing
Two-Aircraft Strategy
Our system features complementary aircraft: a Citation light jet for regional connectivity and a Gulfstream G550 for transcontinental missions. Each member purchases a quarter participation, securing 200 flight hours annually.
The reciprocal dry lease system enables hour swapping between aircraft at cost, maximising operational efficiency whilst maintaining strict regulatory compliance.
PRJets provides comprehensive management services whilst preserving member ownership rights and operational control through carefully structured limited liability companies.
Ownership Structure & LLC Framework
PJL1 LLC - Citation Light Jet
Delaware-registered limited liability company owning and operating the Citation aircraft. Members purchase quarter participations, becoming direct owners with voting rights and asset appreciation benefits.
PJH1 LLC - G550 Heavy Jet
Parallel LLC structure for the Gulfstream G550, providing transcontinental and transatlantic capabilities. Same participation model ensures consistent ownership experience across both aircraft.
PRJets Management Company
Professional management entity providing operational oversight, scheduling coordination, and regulatory compliance without holding ownership or operational control—maintaining clear separation for regulatory purposes.
Transparent Cost Structure
Fixed Cost Sharing
Insurance premiums, hangar fees, routine maintenance, and management costs are split equally amongst LLC members, ensuring predictable annual expenses regardless of individual usage patterns.
Variable Cost Attribution
Fuel, pilot costs, landing fees, and handling charges are directly attributed to the using member's LLC on trip day, maintaining fairness and encouraging efficient operations.
Annual Reconciliation
Comprehensive year-end review ensures cost equity across all participants. No profit margins or hidden fees—all expenses shared at cost with full transparency and detailed reporting.
FAA Regulatory Compliance Framework
Part 91 Private Operations
All flights operate under Part 91 regulations as private, non-commercial operations. Each LLC maintains operational control over its respective aircraft, with members exercising decision-making authority.
Truth-in-Leasing Compliance
G550 operations include comprehensive Truth-in-Leasing documentation, ensuring full regulatory transparency and protecting member interests in cross-utilisation scenarios.
Reciprocal Dry Lease Structure
Inter-LLC aircraft sharing operates through carefully structured dry lease agreements, maintaining regulatory compliance whilst enabling operational flexibility.
Management Separation
PRJets functions solely as a management service provider, with no operational control or ownership stake, preserving clear regulatory boundaries.
Operational Flexibility in Practice
1
Europe Business Trip
Citation owner requires G550 for London meeting. Swaps 5 G550 hours for 10 Citation hours through reciprocal lease at cost, accessing transcontinental capability seamlessly.
2
Regional Connectivity
G550 owner uses Citation for Miami-Puerto Rico shuttle. 3-hour Citation flight debited against 2 G550 hours, optimising aircraft utilisation and member value.
3
Hour Banking System
Unused annual allocations can be traded amongst members at cost, ensuring maximum utilisation efficiency whilst maintaining individual flexibility and investment protection.
Strategic Advantages for Act 60 Investors
Complete Mission Coverage
Two complementary aircraft provide complete travel solutions from short Caribbean hops to transatlantic business travel, eliminating the need for multiple aviation relationships.
Superior Economics
Achieve 50-75% cost reduction compared to sole ownership whilst maintaining equity participation and asset appreciation benefits unavailable through charter arrangements.
Tax Efficiency
Act 60 benefits combined with Delaware LLC structure create optimal tax positioning for high-net-worth individuals seeking aviation solutions with fiscal advantages.
Turnkey Management
PRJets handles all operational complexity including maintenance scheduling, regulatory compliance, pilot management, and inter-member coordination through professional oversight.
Implementation Roadmap
01
Founding Member Commitment
Secure initial member base with binding commitments and capital contributions, ensuring sufficient participation for immediate aircraft acquisition.
02
LLC Formation & Documentation
Establish Delaware LLCs with comprehensive operating agreements, regulatory compliance frameworks, and member protection provisions.
03
Aircraft Acquisition
Source, inspect, and acquire suitable Citation and G550 aircraft meeting operational requirements and member expectations for quality and capability.
04
Platform Launch
Deploy PRJets management platform with scheduling systems, cost tracking, and member communication tools, commencing full operational services.