Jet Set Need a more convenient way to fly? Share the ownership of a jet.

Ask any entrepreneur and you'll get the same response--timeis precious. Pose the question to frequent business travelers wholog 100 or more in-flight hours a year, and they'll readilyacknowledge that valuable hours are lost in transit on commercialflights due to delayed connections or inconvenient stops at anairline's hub. Wouldn't it be nice to have your own privatejet?

Of course it would be a time-saving luxury. But purchasing aprivate aircraft is not a viable option for mostentrepreneurs--even a low-end, seven-seat Cessna Citation S/IIcarries a sky-high price of $2.5 million (not to mention theadditional monthly maintenance costs). And chartering a planeoverrides any cost savings for those making many short trips overseveral days because you pay by the day, not by the hour.

Today, a more convenient, and surprisingly cost-effective,alternative is steadily gaining momentum with small-business ownersand corporate executives nationwide. Known as fractional jetownership, the concept is comparable to a vacation resort timeshare, minus the limitations: Individuals who fly between 50 and400 hours annually buy a slice of a business jet and have theaircraft (or an identical one) available on an on-call basis, anytime, anywhere. The larger your share, the more hours you have atyour disposal. Under a typical plan, the use of a Cessna Citation VUltra would cost a company $11,800 for 100 hours, plus $3,600 amonth for incidentals such as fuel, insurance, pilot's salaryand hangar space. There's also an annual $389,000 managementfee. By no means is fractional ownership cheap, but it brings theonce unattainable within reach.

"We run an on-demand system," explains RichardSantulli, CEO of Executive Jet Inc., a business aviation servicecompany in Montvale, New Jersey. "[Owners] can call with aslittle as four hours' notice for an airplane at any one of the5,000 general aviation airports in the country." Theseairports extend far beyond the reach of commerical airlines, whichservice only 500.

Santulli, a former mathematician, pioneered the concept in 1985when he was looking into purchasing a private jet. "I realizedit made no economic sense for me to spend $3 million for a jet whenI'd use it only about 150 hours a year," he says. Instead,he created a way for a group of individuals to share the cost of ajet yet still retain guaranteed availability of the aircraft. In1986, he introduced the program with a core fleet of eight planes;more than a decade later, his company has 115, and service hasextended into Canada and Europe.

The trend has even taken off with American Airlines. Two yearsago, the industry giant launched an affiliate company calledBombardier Business JetSolutions Inc., which offers a similarfractional jet ownership program. By 1998, the company expects tohave more than 40 aircraft in its fleet.

Weather Wise

Although temperatures are cooling here at home, the weather inother parts of the world varies drastically. So if you'vescheduled an upcoming trip to Hong Kong, Paris or Sydney,Australia, consider picking up a copy of Pleasant WeatherRatings (Consumer Travel Publications) before you pack yourbags.

The book, which offers year-round weather profiles for more than600 cities worldwide, can help even the most infrequent businesstraveler decide whether to bring along that raincoat. It also givesyou the knowledge to plan your trips during the times of the yearthat best suit your weather preferences. Key criteria notedincludes rainy seasons, average temperatures and humidity.

Author Thomas Whitmore, a weather researcher for more than 10years, also provides a ranking of international cities with"pleasant" climates. The top three? Las Palmas, Spain;San Diego; and Casablanca, Morocco. The least pleasant: Reykjavik,Iceland, and Nome, Alaska.

You can order the quick-reference guide for $10.95 plus $2.50shipping and handling by calling (617) 862-7495.

Bonus Points

By Heather Page

While recapturing employees' frequent-flier miles can be aboon for employers, most companies still let personnel keep theirhard-earned mileage. According to a recent survey by research firmRunzheimer International in Rochester, Wisconsin, nearly four outof five companies, or 82 percent, don't attempt to recoverfrequent-flier points from their employees. Ten percent, however,view the points as company property; the remaining 8 percent makearrangements to split the points between company and employee. Thefindings suggest that those with the most successful recapturingprograms started either when frequent-flier programs wereintroduced or when the company was very small.

Just Like Home

By H.P.

Ever considered renting your own pad when out on the road?Short-term apartment rentals typically boast roomy quarters, fullyequipped kitchens and an almost-like-home feeling. Plus, these digscan be lighter on your pocketbook than corporate lodgings. A recentstudy conducted by Business Travel News magazine found thatshort-term apartment rentals can save business travelers up to 49percent on average corporate per diems.

The study, commissioned by New York City-based BarclayInternational Group, which rents apartments in many major Europeancities, found substantial savings when comparing its short-termrental costs to hotel prices. In London, for instance, the averagedaily rate was $201 for short-term rentals vs. $352 forcorporate-rate accommodations--43 percent less. When comparingmeals, average meal costs per day in London ate up $108 vs. $25.65for short-term apartment dwellers who ate in.

True, some business travelers don't have enough time toprepare meals. But the study found that just using the kitchen forone meal could add up to significant savings. Also scoring bigpoints: Apartments often include laundry facilities.

Road Notes

By Catharine Kuchar

• If you're looking for more legroom in your business-classseat, look no further than Delta's 767s, L-1011s and MD-11sthat fly the North Atlantic. The new configuration will nearlydouble the legroom to 20 inches (from 10 inches) and almost doublethe recline distance to nearly 12 inches (from 7 inches).

• Talk about a conference call. Hilton Hotels, working withTeleSuite, has created a group videoconferencing system showinglife-sized images of the people you are meeting with on a 92-inchscreen. A 50-minute session starts at $199 and is available at fiveHilton locations across the country.

• If you're flying United, be sure to arrive at the gate atleast 20 minutes prior to the flight's departure or you couldlose your seat assignment. United has started releasing andreassigning seats not claimed before the 20-minute deadline. Thenew, stricter rule was started to speed up the boarding process andexpedite the processing of upgrades.

• Taking life a bit easier for the business traveler, ITTSheraton provides Sheraton Club International members with aprogram called "9 to 5," which allows travelers to checkin as early as 9 a.m. and check out as late as 5 p.m. at more than72 participating hotels in the United States and Canada.

• Traveling into Manhattan from La Guardia? To avoid traffic, youmay want to try the Water Shuttle. The fare is $15 one way--cheaperthan a taxi--and the time it could save you is worth it. You cancatch the shuttle at Delta's Marine Air Terminal at LaGuardia.

• Swissair North Atlantic services has joined other majorairlines in operating nonsmoking trans-Atlantic flights. Swissair,along with its European partners, Austrian and Sabena, made theswitch to meet the increasing desire of passengers for a smoke-freeenvironment.

• Delta Air Lines recently added Air France to its SkyMilesprogram.

• According to a recent J.D. Power and Associates survey, Hertzis at the top of the rental car industry in customersatisfaction.

• At Doubletree's new Club hotels in Chicago; Miami;Philadelphia; San Antonio; Jacksonville, Florida; and Louisville,Kentucky, you won't have to leave the hotel to enjoy pastriesfrom Au Bon Pain or wait for documents from CopyMax. The hotel nowprovides guests with these and other services to make businesstravelers' lives easier.

Driver's Seat

How much does it cost to rent a car? Here are the averageprices for renting a midsized car in 10 popular business traveldestinations:

City Cost Per Day

New York City $77.47

San Francisco $56.49

Boston $55.24

Philadelphia $54.21

Chicago $50.98

Washington, DC $48.24

Los Angeles $47.48

Las Vegas $43.96

Miami $42.49

Denver $41.99

Contact Sources

Bombardier Business JetSolutions Inc., 8001 Lemmon Ave.,Dallas, TX 75209, (214) 956-1703

Delta Air Lines, (800) 547-3779

Doubletree, (800) 444-CLUB, http://www.clubhotels.com

Executive Jet Inc., 85 Chestnut Ridge Rd., Montvale, NJ07645, (201) 573-8889

Hilton Hotels/Telesuite, (800) 995-9400, http://www.hilton.com

ITT Sheraton Corp., (800) 325-3535

Swissair, 41 Pinelawn Rd., Melville, NY 11747, (800)221-4750

United Airlines, (800) 241-6522.