Private aviation, especially in today’s chaotic and often stressful travel environment, offers many benefits for both leisure and business travelers. But how do you decide when to invest in chartering, or whether you should purchase a private aircraft? Here are some parameters to keep in mind when weighing the options of chartering versus buying.
Advantages of Chartering an Aircraft
If you only fly private a few times a year, then chartering can be a more economic choice. With numerous charter options available today, you can choose exactly the type of plane that fits your travel needs for each specific trip. Keep in mind these three benefits to chartering an aircraft:
- Flexibility—a charter affords you the ability to decide when, where and how to fly. In the end, chartering is ideal when flight usage is sporadic and needs are difficult to predict.
- Variety—chartering offers the option to choose from various aircraft configurations for every flight. Charter companies, especially those with locations in large metropolitan areas, can provide different aircraft with different configurations further customizing this type of travel experience. You can try out different models and on-board layouts to match your exact mission profile.
- Pay Per Use — when chartering, operating costs (crew salaries, routine and unplanned maintenance, aircraft insurance and hangarage) are built into the flight cost.
For corporations considering private aviation for executive travel needs, chartering can be a smart first step. Executives gain first-hand experience and valuable insight into the benefits of private jet travel without making the immediate investment of purchasing their own aircraft. As a company grows and travel needs increase, corporate owners can then make an educated transition from chartering to buying.
Advantages of Owning an Aircraft
- Consistency—by owning your own aircraft, you can enjoy the comfort and efficiency of a consistent experience every time you fly. From cabin layout to onboard amenities, you know the ins and outs of the plane you will travel on and can take full advantage of its offerings. As an owner, you can also choose to hire a consistent crew that you know and trust, and that know you and your preferences.
- Personalization—just like owning a home, owning an aircraft allows you to configure it exactly to your personal taste and needs. It also offers the ability to tailor the flight experience to meet the specific trip requirements.
- Complete Control—The only way to be in full control of your private-flying experience is to acquire your own aircraft. Owners have the freedom to make changes or extensions to a trip at the last minute without having to ask if the charter company can accommodate. Ownership also provides you the autonomy over your aircraft maintenance and crew training, ensuring everything meets your level of specifications.
Deciding whether to charter or buy a private jet can be a complex decision. Consult with a trusted partner to help you make the right decision. A professional will provide you with expert guidance on all aspects of chartering and, when you are ready to own your own aircraft, they also can help you through the entire purchasing process.
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