Forbes writer Lauren Kerensky soundly confirms that private jets are gaining popularity among travel-savvy business travelers. They’re not just items of ultra-luxury anymore.

Innovative ways of flying privately have gained footing, as fractional ownership and on-demand charter programs offer viable alternatives to owning a multi-million dollar jet. Kerensky notes fractional ownership industry leader NetJets, which sells 1/16th interests – around 50 hours of annual flight time – in a Hawker 400XP for around $412,500. A new Hawker 400XP, however, would run about $18.8 million.

Versace in the sky

While NetJets and other private jet companies give economical (and ecological – carbon neutral anyone?) choices to business travelers, the Flying Palaces of the world are in no short supply either.

Daniel McGinn at Newsweek recently highlighted some extravagances of private jet culture. Indeed it’s true that Airbus will deliver a $325 million plane, and Versace can even outfit it – giving a whole new meaning to “runway model.” Exotic fabrics and materials might even make it on board if recent FAA legislation relaxes some rules for luxury jet mods.

And if you’re Google founders Larry Page and Sergey Brin, you can even land your custom party plane (Boeing 767) at a NASA airfield for a cool $1.3 million per year.

But the more practical-minded consumer should consider some lower hanging fruit. Download Helium Report’s free Decision Guide to Private Jet Travel.