It is not just about "cheaper". XOJet (and I have seen many of the numbers) is a much more efficient operation than NetJets. A good part of it is that XOJet (1) has pricing flexibility and (2) has flight flexiblity, 2 items that NetJets and the other fracs do not have. XOJet only flies flights it deems profitable (or charges much more for less profitable flight). And except for a very few customers at the highest level, XOJet does not guarantee that it will handle any flight any time (like the fracs). So it can price accordingly. The frac model needs to spread the extra costs of the inefficient flights onto the longer profitable flights. XOJet does not need to do that. Except for someone who flies rarely, XOJet is not a pure substitute for a fractional share -- however, it is a substitute for part of a shares. Many people I know have cut their NJA hours in half -- they fly 50% (mainly ling flights on XOJet for about 1/2 the NJA cost), and then use their smaller fractional share for shorter flights and when they absolutely have to be there and XOJet cant handle the flight in a cost effective manner.