Demand for private jet travel is higher than ever and companies are stepping in with an array of options. Many high net-worth individuals want to avoid the hassles of commercial air travel, but do not want or have the means to purchase a private jet outright. BOND, a fractional aviation company, is attempting to appeal to this demographic with a member’s club and fewer co-owners per aircraft.

BOND was launched in October 2025 by Bill Papariella, an industry veteran. Papariella previously founded Jet Edge, a private jet charter company. BOND closed a $350 million investment led by KKR, a leading private equity firm. The investment consisted of $320 million of preferred equity and debt financing and $30 million in equity funding.

The fractional ownership model for private jets has similarities to a vacation timeshare. Members pay an upfront fee of between $1 million to $5 million for a fractional share. There are ongoing maintenance charges on a monthly basis. The company also charges hourly operating costs when using the aircraft.

BOND sets itself apart from competitors such as Flexjet and NetJets by limiting the number of co-owners per aircraft. BOND only allows a maximum of 8-10 co-owners per aircraft, distinguishing it from competitors that allow up to 16 co-owners. This provides its members with more reliable access to jets, particularly during peak times such as the holidays.

BOND plans to start flights in 2027. The company currently has 110 members signed up. Members are allocated 100 hours in the air per year. In order to guarantee better access to jets, BOND will limit its membership growth to no more than 100 new members per year. This contrasts with Flexjet and NetJets, which have thousands of customers, not all of whom are fractional owners.

The company entered into a firm order and services agreement with Bombardier, providing it with access to a fleet of Bombardier jets. Following strong initial demand, the firm order was expanded from $1.7 billion to a commitment of up to $5 billion. BOND’s multibillion dollar deal with Bombardier has provided it with access to the Challenger 3500, Global 6500, and Global 8000 jet models. The company has committed to refreshing aircraft so that the average age of its aircraft stays below five years.

“What’s driving BOND isn’t just demand—it’s conviction. Our founding members aren’t passive buyers. They co-invested in the company because they believe this model should exist,” stated founder and CEO Bill Papariella. “When some of today’s most prolific entrepreneurs, investors, and entertainers put capital behind the operator, not just the aircraft, that tells you something about how underserved the premium end of this market has been.”

KKR has made a number of investments in private jet businesses. In 2021, KKR took a stake in Atlantic Aviation, a large private aviation infrastructure platform. Atlantic Aviation operates a network of aviation infrastructure services such as aircraft fueling, hangar rentals, and passenger concierge services, at over 100 private jet terminals in the United States and Caribbean. KKR also partnered with Altavair to finance aircraft leasing expansion.