The research, which surveyed 1,000 full-time c-suite executives and senior management, revealed a significant increase in private flight usage due to its flexibility, efficiency, and peace of mind for travellers. 37% of respondents reported traveling monthly for business, with 77% using commercial flights as their main mode of transport. 

More than one third of respondents identified a significant desire for peace of mind when travelling. This was described as eliminating layovers, never losing bags, going straight to the plane, avoiding cancellations and delays. 

However, 75% of respondents identified cost as the main deterrent preventing them from using private aviation for travel. The second most important deterrent was a perceived lack of information on services and the industry, selected by about 41% of respondents.

“This survey was an opportunity to hear from folks who want to be our customers,” said Cory Bengtzen, CEO and founder,  SkyShare. “How can we meet them where they are? All business leaders would love to fly private, but there are still a multitude of hurdles to overcome, with cost being the most significant hurdle.” To address these concerns, travel solutions must cater specifically to the unique needs of today’s business leaders, he added.

“Approximately 62% of respondents indicated they are likely to consider private aviation for business travel needs, so the desire is absolutely there,” said Bengtzen. It is the industry’s responsibility to come up with new ways to provide a lower-cost option to help these leaders achieve their business’ goals, according to the company. SkyShare is doing that through flexible pricing plans and initiatives that lower the barriers to entry, said Bengtzen.

Since summer began, the appetite for private jet flying had been sharpened by the airline industry being “ravaged by a slew of technical malfunctions, emergency landings, and lost baggage woes”, claimed the company. So, it would not be surprising to see more business professionals considering and ultimately choosing the benefits of private aviation, it said. “For those who do fly private, reduced stress and hassle was a key factor in their decision to do so, which is why the commercial airline industry could soon see a significant shift in the sheer number of fliers,” predicted Skyshare.

Meanwhile, in May, SkyShare revealed a new financing programme for its fractional aircraft ownership plans aimed at lowering the entry barrier for small to medium-sized businesses. 

SkyShare survey results – at a glance

• 84% of C-suite exec and senior business leaders are interested in flying private

• 75% cite cost as the main barrier to adopting private aviation.
• 77% prioritise time-saving benefits, while 74% value increased scheduling flexibility.
• 69% appreciate reduced stress associated with private flights
• 35% highlight the importance of spending more time with family.

Source: SkyShare.

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The SFX+ programme has seen SkyShare expand its fleet with Gulfstream G450s and Challenger 300s, in addition to its fleet of Pilatus PC-12s, Citation CJ2s and Citation Excels under the existing SFX programme. The new finance options are designed to make it easier for small and medium enterprises to access private aviation while retaining capital in their businesses.

“Part of our culture at SkyShare is to empower small to medium-sized businesses,” Cory Bengtzen, CEO and founder of SkyShare told CJI. “As we work with these entrepreneurial clients to find the best way to fly for their businesses and families, one factor that always comes up is cash flow. Many of our clients who buy a full aircraft often take on debt against the aircraft to keep their cash working within their business(es). So naturally, the question that follows is, ‘Why not do that for fractional ownership?’”

But until now, it just wasn’t possible, it didn’t fit inside the box of “how things are done”, said Bengtzen. “So we decided to do something new and hopefully exciting, and lower the entry barrier, allowing our clients to keep their cash working for them while still taking advantage of all the bonus depreciation tax savings. 

“Remember that most, if not all of our clients, could pay cash for their share, but many would prefer to keep their cash flowing. Moreover, with the finance package we’ve put together, the payments are incredibly low because we can finance the loan over a longer period with a balloon payment when the aircraft sells.”

Fractional ownership already lowers the barrier to entry for private flight by cutting costs as much as 1/16 versus full-ownership, while still providing guaranteed availability and a low-commitment three-year term. Under SkyShare’s new financing plan, the barrier to entry comes down even further.

For example, in the SFX programme, shares start at $335,000. The new financing programme requires only 35% of that down ($117,250) and monthly finance payments as low as $2,354. For the large-cabin SFX+ programme featuring Gulfstream G450s, shares begin at $950,000, with financing options starting at a $332,500 down payment and $6,684 monthly finance payments. 

“We chose to use pre-owned aircraft, which reduces the acquisition price by half. This also allows our owners to pick the best aircraft for each specific flight. In the SFX programme, you can take an Excel to Texas one day and the next day take a PC-12 to a small, remote runway in the middle of nowhere. With our new SFX+ programme, you will be able to access our entire fleet, flying a G450 to New York one day and using the PC-12 or a light jet for your next meeting and home before dinner.”

SkyShare’s financing also still allows fractional owners to take full advantage of bonus depreciation benefits on their taxes. “Our goal is to make private flight as accessible and beneficial as possible, ensuring clients can keep their money working for them while enjoying all the benefits of a personal aircraft fleet. If you’re a small or medium business aiming to compete with a Goliath in your industry by doing more business face-to-face, here’s a brand new slingshot.”

The new initiative coincides with SkyShare’s 15th anniversary, marking a significant milestone in its history. Bengtzen said he has been “incredibly fortunate to bootstrap” the company without any outside investment or pressure from private equity firms dictating how the business is ran. 

“In the next 15 years, we aim to grow the company and expand nationwide through acquisitions starting in 2026. Our team will continue to support our clients in our fractional program, charter services, and in full aircraft ownership, helping them acquire/sell aircraft, manage their asset, and reduce their operational expenses with charter revenue, if they desire.”

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As founder of US-based corporate jet flight share solution, Bengtzen has been on the frontline of Covid-19 prevention in the sector. He said: “For example, using a product like Microshield 360 on all our aircraft will be our policy moving forward, even after the pandemic abates. Likewise, keeping a vigilant watch on our pilots ’health just makes business sense.”

Prolonged disruption to commercial aviation could see the continued emergence of first-time fliers in the corporate sector. Bengtzen said: “First-time fliers to private and business aviation have always accounted for a portion of our demographic for new business. However, this year, we’ve noticed that number has more than doubled. We’re seeing a new avatar here — the business owner who may have been able to afford to fly private before, who was fine in first-class and flying her/his employees in business classnow seeks all the advantages of private flight.

“While it may be wishful thinking for our industry to expect this segment to continue to grow, we anticipate the disruption that commercial aviation is experiencing to last for another two to five years. Thus, as that new avatar grows in scope, we may be seeing the biggest boom in new potential clients for business aviation in more than three decades.”

At CB SkyShare the last few months have been positive. The company reported its best charter month ever in July 2020 and said that number had continued to grow. Whilst September and October were the firm’s best jet-share months ever.

Good performance, especially now, can in large part be down to practical use of technology. Bengtzen told CJI tech already played a huge part in CB SkyShare’s business model. “Competing with the well-funded ‘big boys’ requires digital agility to work smarter. As with other business sectors, technology helps us to interface with our multiple locations, customers, and partners while staying safe.”

Bengtzen added: “Zoom and Google Hangouts have become the foundation of our morning ops meetings, business development, flight-by-flight surveys, and new customer onboarding. Additionally, we’ve taken the opportunity to invest in new software platforms in almost every segment of the business, from flight operations to aircraft cleaning and sanitation to sales and marketing.”

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An initial phase remodel of the FBO has already been completed, adding multiple amenities for pilots and passengers in the busy Bay Area, while rescuing multiple, old-growth Chinese Elm trees on property and creating a public green space for the Marin airport community.

CB SkyShare’s next phase, currently underway, focuses on delivering the highest quality of private aviation services to the airport, including a new self-service fuel station, a BMW courtesy car, water bottle stations, and electric car chargers. In a final phase, SkyShare aims be one of the first providers of the up-and-coming, environmentally conscious unleaded AvGas fuel in the nation.

“Investing and planting roots—literally—in local communities epitomizes the spirit of our mission to empower entrepreneurs and locally-minded businesses, working together to shift the power and freedom of private flight back into peoples’ hands, versus monolithic and impersonal institutions. Our company is visionary, bold, and fanatic about the customer experience. This must include creating actual, physical spaces where a community can grow,” says Cory Bengtzen, founder and CEO of CB SkyShare.

Marin County, one of the wealthiest counties in the country, allows CB SkyShare to immediately fill the demand for uplift in the Bay Area by serving the flight community with their unique 3-tier program. First, SkyShare bridges the retail charter gap for those seeking one-off private flights. Secondly, SkyShare offers the premiere regional jet-share program in the West featuring the perfect trio of aircraft: the Pilatus PC-12, Citation CJ2, and Gulfstream G200, where one share provides full-fleet access. Thirdly, SkyShare assists in acquiring and/or managing many different private aircraft where owners receive benefits of charter revenue and access to the entire SkyShare fleet.

When asked about perceived competition becoming customers as SkyShare acquires more FBOs, VP Patricia Reed was quick to point out, “Since we fill a different niche in the marketplace than these respected charter membership programs, we see this as a win-win relationship. Our goal is simple: Flight Simplified. This centers on premium, personal customer experiences. Aviation is a brother/sisterhood. When we help these programs give their members ‘wow experiences,’ we’re confident they will view us as an asset to their business model, especially when their customers can relax and unwind in our new FBO.”

Shell Aviation will continue to be the exclusive provider of fuel for CB SkyShare. Speaking on their partnership, Director of West Coast Sales & Development Mick Kendall said, “Cory and his team at CB SkyShare have a very unique vision and special culture and we’re thrilled to watch them grow. Their FBOs have hundreds of five-star reviews for a reason, and we have every reason to expect that their growing presence in California will accelerate mindshare in the West about the SkyShare experience.”

Grayson Battema, the FBO’s new Manager and a fellow pilot added, “When you have the freedom to fly your own PC-12 or CJ2 and/or own a share in one of ours, having brick-and-mortar presences across the Western U.S. allows us to form face-to-face relationships with like-minded companies, families, and communities who share our immense passion for aviation.”

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Its founder, Cory Bengtzen, had previously worked in the automotive and finance industries but always had a passion for aviation. So much so, that he holds fixed-wing and rotary licences.

But coming from Utah, he saw a gap in the market that he thought he could fill.

Although NetJets and Flexjet cover the Western United States, Bengtzen says that the aircraft in their fleets are generally too large for the shorter-range flights that people want to take around Utah and neighbouring states. Becuase of this it would not be financially beneficial for them because of the size of aircraft available.

He spotted an opening for a new fractional operator that had smaller aircraft capable of short hops.

CB SkyShare officially launched in 2017 as a fractional operator with an emphasis on the Western US, initially with a Pilatus PC-12 turboprop.

As a pre-owned aircraft, shares on the PC-12 could be bought for as little as $175,000 for a sixteenth share. But rather than the percentage you buy guaranteeing a certain number of hours, the CB SkyShare program guarantees a certain number of days. During a flight day, there is no minimum or maximum number flight hours, within FAA guidelines.

The lowest rung of membership, currently set at a one-sixteenth share, gives owners access to the aircraft for 20 days in a year. When somebody takes out a membership, they get access at the same dollar amount to the entire CB SkyShare fleet, which as well as the PC-12 also includes the CitationJet 2, and Gulfstream G200. The maximum is ½ share, which gives 160 flying days a year.

“So, any of our customers, they buy in, they sustain their management fees per month, and then the call our dispatch, and they schedule whatever aircraft best fits their next mission. It could be the Gulfstream G200 going to Hawaii, and the day after the return they could be taking the PC-12 to go from San Francisco down to San Diego.” Says Bengtzen.

Bengtzen wanted the programme to be as simple as possible, so the only real difference is the hourly cost of the aircraft used. The company also guarantees availability. If one of the CB SkyShare aircraft is busy when a member requests a flight, the company will go out into the charter market to secure an aircraft that can be used by the member at the same hourly rate used if it were its own aircraft.

“This program is designed for somebody who wants to fly more than 50 hours privately a year, up to around 350 hours a year. If somebody is flying less than 50 hours a year the retail charter market is really a better way to go.” says Bengtzen.

“If they are flying between 50 and 350 hours a year it is really simple. We handle it, we maintain it we oversee all FAA regulations, and the dispatch. They get all the services and experience and convenience of private aviation and they don’t have to worry about any of the stuff that goes along with creating it.”

To build the company successfully, Bengtzen knew that he had to choose the aircraft types carefully to fit most missions that the members would want to fly. The majority of these are currently short- to medium-distance routes, so the company focussed on aircraft capable of flying those routes.

Having started with a single Pilatus PC-12, the company’s fleet now includes a CitationJet 2 and a Gulfstream G200. A second PC-12 is currently under contract and will join the fleet soon. Additionally, the company has made an offer on a second Gulfstream G200.

All of the aircraft are flown under the Coleman Jet AOC. The partnership that CB SkyShare has with Coleman Jet means that its members can get access to the larger aircraft in the Coleman Jet fleet at discounted rates. Currently the Coleman Jet fleet includes three Gulfstream IVs.

As the company has grown quickly, it has also looked to acquire other businesses, including FBOs. The first of these was Marin County Airport, 43 miles north of San Francisco, which serves as a secondary location for the company to base its aircraft.

It is one side of the business that Bengtzen sees expanding quickly, saying that he would like to acquire at least one FBO per year as the company grows. Southern California is next on the hitlist, with the next location being driven more by where its customers are.

Having mini bases around the western US that the company grows not only helps customers and CB SkyShare. The company does not charge positioning fees on the PC-12 and CJ2, so being able to base those aircraft closer to its customers means that they get quicker access to an aircraft, and CB SkyShare won’t have to carry too much cost for repositioning the aircraft.

For now, though, the company is just focussing on getting the west right, before taking its offering eastwards.
“We want to dominate the west first, with lots of aircraft running up and down the west. Of course, we have worldwide operations but right now we are focussing on the west.”

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CB SkyShare is a jet fractional ownership program offering.

The new jet share program allows people to buy into one aircraft with shares starting at $175k while simultaneously providing access to an expanding fleet of Phenom 100 and CJ2 jets, and Pilatus PC-12 turboprops.

CB SkyShare handles everything including pilots, aircraft maintenance, engine overhauls, insurance, ongoing pilot training, concierge service and hangarage.

“We are beyond thrilled to introduce a jet share service that has been so needed in the Western United States.”

“We are beyond thrilled to introduce a jet share service that has been so needed in the Western United States.” said Cory Bengtzen, CEO, CB Aviation. “With CB SkyShare, there is finally a jet share program providing local, successful businesses the time savings, convenience, and lifestyle advantages of executive/personal flying at a cost justifiable for company and personal use.”

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