NAFA member, Amanda Applegate, Managing Partner with Soar Aviation Law, shares her 2026 Outlook.
I realize that each year it takes me longer to recover from the fourth quarter and to begin thinking about the year to come. Every December I think it cannot possibly get more complicated or busier, and yet it does. In 2025, transactions were generally more complicated as a result of (1) tariff uncertainty and complications (impacting aircraft for the first time in 50 years), (2) the uncertainty surrounding bonus depreciation, and (3) the implementation of the One Big Beautiful Bill Act of 2025.
After reflecting on my personal experience in 2025 and analyzing key data, there is a noticeable trend as we move into 2026. Specifically, fractional programs and co-ownership programs are a larger percentage of the total market than ever before. This segment’s growth is outpacing other segments in private aviation.
Those purchasing into fractional programs and co-ownership structures are not just new entrants to private aviation. Instead, an increasing percentage of the fractional and co-ownership program participants are owners who have owned whole aircraft and are selling their aircraft to transition into fractional or co-ownership. In some cases, owners are selling part of the aircraft they already own to create a co-ownership structure. Additionally, we are seeing long-standing flight departments increase their dependence on fractional ownership or, in some cases, entirely replace the in-house flight department with fractional ownership interests. I think there are several key factors influencing the decision to move towards fractional and co-ownership.
This article was originally published by Soar Aviation Law on January 28, 2026.