To be cost effective, full ownership generally requires a minimum level of utilization. In general, if the company plans to utilize the aircraft for at least 250 flight hours per year, full ownership is a good option. Although for some companies, the benefits of business aviation are such that they purchase and operate a whole aircraft even at less than 250 hours of utilization per year.
Through a co-ownership structure, multiple companies are able to share in ownership of an aircraft. When operating the aircraft, each co-owner is responsible for providing flight crew. The crew can be provided by the co-owner independently or through a management company.
It is important to note that aircraft co-owners are not able to charge each other for operating the aircraft. This structure should be distinguished from a joint ownership agreement which allows registered joint owners to charge each other for certain operating costs.