Some people may argue that, if you make frequent trips for your business flying many hours frequently, then you must own a private jet. Though this could sound logical at first, there are a few factors that ought to be considered. For example, your company might need to send people to different regional offices on the exact same day. Obviously, in these examples, owning a single corporate jet won't help you very much.
Another factor to think about is the kind of travel that is required to make. If you often fly and stay at a destination for an extended time period, say for two or three weeks, then owning a private jet can be quite expensive. Your pilot and the flight crew might need to fly home commercially and fly back to the destination to pick you up when you are ready to come home. Additionally, during your stay, your jet is sitting idle at the destination without being utilised. Not an efficient use of resources.
If you require decentralized departures, one-way travels and simultaneous use of private jets, private jet charter may make more business sense than owning a private jet. The private jet charter can provide you with more flexibility and cost-effective means of transportation. No matter how long you stay at a destination, no private jet will be wasted sitting idle and no flight crew will need to be transported back and forth. There will be no need to have a mechanical maintenance crew to maintain and service your private jet. There will be no need to have insurance or pay property tax on a private jet, either.
One popular form of private aviation is fractional jet ownership because of its comparatively lower costs. Fractional jet ownership is comparable to a timeshare ownership of a vacation property. A group of interested folks jointly purchases a private jet and, in exchange, each member of the group receives the right to use the jet for a guaranteed set of hours each year. A standard practice in fractional jet ownership is a 1/16 share.
Although the total cost of fractional ownership is surely less than that of sole ownership, it is certainly not inexpensive. For example, if the aeroplane market value is $12 million, the shared cost of this fractional jet ownership is $750,000 at a 1/16 share.
While fling on your own luxury jet may give you the highest sense of privilege and pride, fractional ownership is not for everybody. Except for the buying costs, there are other costs, such as maintenance, insurance, pilot salaries, fuel costs and landing charges. These costs typically are in 5 figures each month. Owners are also required to sign a biding contract of 2 to 5 years; once you own a jet through fractional ownership, you are stuck with it for at least the length of the contract.
Another factor to think about is the kind of travel that is required to make. If you often fly and stay at a destination for an extended time period, say for two or three weeks, then owning a private jet can be quite expensive. Your pilot and the flight crew might need to fly home commercially and fly back to the destination to pick you up when you are ready to come home. Additionally, during your stay, your jet is sitting idle at the destination without being utilised. Not an efficient use of resources.
If you require decentralized departures, one-way travels and simultaneous use of private jets, private jet charter may make more business sense than owning a private jet. The private jet charter can provide you with more flexibility and cost-effective means of transportation. No matter how long you stay at a destination, no private jet will be wasted sitting idle and no flight crew will need to be transported back and forth. There will be no need to have a mechanical maintenance crew to maintain and service your private jet. There will be no need to have insurance or pay property tax on a private jet, either.
One popular form of private aviation is fractional jet ownership because of its comparatively lower costs. Fractional jet ownership is comparable to a timeshare ownership of a vacation property. A group of interested folks jointly purchases a private jet and, in exchange, each member of the group receives the right to use the jet for a guaranteed set of hours each year. A standard practice in fractional jet ownership is a 1/16 share.
Although the total cost of fractional ownership is surely less than that of sole ownership, it is certainly not inexpensive. For example, if the aeroplane market value is $12 million, the shared cost of this fractional jet ownership is $750,000 at a 1/16 share.
While fling on your own luxury jet may give you the highest sense of privilege and pride, fractional ownership is not for everybody. Except for the buying costs, there are other costs, such as maintenance, insurance, pilot salaries, fuel costs and landing charges. These costs typically are in 5 figures each month. Owners are also required to sign a biding contract of 2 to 5 years; once you own a jet through fractional ownership, you are stuck with it for at least the length of the contract.
About the Author:
Toby Fujisawa is a chief contributor at Jet Charter Rates Info.com. His website features a comprehensive guide to Private Jet Charter Services, Jet Charter Rates, reviews of top Private Jet Charter service brokers, and much more.