Do you need a business aircraft?

As an instrument-rated private pilot for over 35 years, I'm always looking for some way to justify a new plane. So, my answer to the question above would be "ABSOLUTELY!" But, as a strategic business consultant trying to ensure the companies he works with are utilizing their resources at peak efficiency, my answer would be "maybe."

The question is more complex than it might seem at first. Yes, you can fly on your schedule. Yes, you can save tremendous time flying in your aircraft. Yes, you can go places the scheduled airlines don't go. Yes, there are very definite tax benefits if structured correctly. BUT... there are some pretty big caveats as well, and you need to ask yourself some questions and be very honest with your answers.

Will you fly yourself, or will you have to hire a pilot? This is a HUGE cost differential and affects the entire arrangement's flexibility. It requires you to always keep in mind someone else's schedule. If you fly yourself, are you competent and current? After all, the point is moot if you don't make it to your meeting or back home to your family because of an accident. Do you have the time and resources to train adequately?

Can you afford the aircraft type most advantageous to your length and type of business travel? For example, trying to make long flights across the country in all kinds of weather in a small plane without all the bells and whistles might be possible, but it won't be as comfortable, practical, or safe as doing that in a high-performance aircraft like a turboprop or light jet. On the other hand, if you want to use your aircraft for scouting new properties near your office, you might only need a small aircraft or helicopter.

Do you have the resources to maintain the aircraft and support the additional operating costs like annual inspections, navigation subscriptions, hangar, and insurance?

Hopefully, the answer to these questions is "yes," and you can start looking for your new corporate aircraft today. If you need help analyzing your need for a company aircraft or, let's be honest, just justifying that purchase, give me a call. I would love to review my experience with a company plane and offer some insight.