Putting Fractional Flyers In The Driver’s Seat

Scott Lustgarten • Martin Dealership Group

Scott Lustgarten is President of the Martin Dealership Group. Having worked with us on his last fractional deal, Scott knew the value of having Shaircraft sitting on his side of the negotiating table. So, when he was nearing the end of his contract with Netjets, he called on us again. This time, he needed help securing fair value for his existing share, negotiating a new fractional deal and structuring a limited liability company to bring in a partner to co-own the new share. Scott had been leaning towards renewing with Netjets. However, we helped identify a more beneficial arrangement with Flexjet, and Scott decided to make the move. We negotiated the Flexjet contract documents as well as the sale of his Netjets share. After it became clear that Scott was moving to Flexjet, Netjets sought to reduce the price it would pay for his share. We were able to convince them otherwise, a result that Scott greatly appreciated. We then consulted with his corporate counsel on the structure of his new limited liability company.

"I have been a fractional owner for 15 years with three companies. Shaircraft Solutions has negotiated my last two contracts. Unlike with my standard business counsel, there is no learning curve with Shaircraft. James Butler understands the pitfalls of fractional ownership and has worked diligently to protect my interest."