Having access to a private jet at short notice or airline travel?

Business travel should be relaxing, free of delays, tedious boarding processes and time-wasting. In fact, airline boarding procedures are a waste of valuable time for business people, as well as a security issue. Therefore, time-consuming boarding processes of airline travel are an indispensable double-edged sword. You can’t do without them as well..

On the other hand, buying / leasing a private jet is a declaration of independence from the constraints of flying with the commercial airlines.

From one perspective; owning a private aircraft offers the privilege of setting your own schedule, flying directly to your destination, and enjoying your private space with your companions.

But on the flip side, although private jets offer high level privacy and flexibility and can give you full control over your business schedule, you must remember that owning a private jet isn't just about its initial purchase cost. There will be ongoing direct and indirect operational costs such as maintenance, crew salaries and expenses, insurance, hangar fees, overflight, landing and handling fees, etc.

Therefore, it is important that a businessman have a clear understanding of the overall financial obligations before even considering the purchase of a private jet.

Even so, private jets’ unprecedented level of privacy and flexibility matters. Deciding whether or not to own a private jet is indeed a difficult decision that needs serious guidance.

Let’s define your requirements?

it is important to know your needs. Besides, it’s a matter of awareness. Let’s evaluate your requirements:

• How many hours have you flown so far annually for business purposes?
• How many hours will you need to fly annually? Less than 20-25 hours per month does not meet cost and effectiveness needs ( 300-360 hours annually).
• What is your minimum flight distance?
• What is the flight distance to your most distant regular destination?
• Are your business destinations easily accessible via commercial airlines?
• Is your business located on an island?
• What are other competitive fast transportation means to your projected destinations?
• On average, how many business partners do you anticipate flying on a trip?
• What would be an acceptable annual total cost of the projected flight department for you?
• Which size of aircraft may fit your travel needs?
• What kind of onboard amenities would you care about?
• Will you ever consider switching to commercial aviation?

After completing the initial evaluation process, deciding on the aircraft type and locating the suitable ones, you must conduct a thorough pre-purchase aircraft inspection to confirm the aircraft’s state, airworthiness status and its adherence to safety standards before finalising the acquisition. This inspection must take into account its airframe, avionics, engines, APU, all aircraft systems’ and components’ maintenance history.

Asking for a test flight in accordance with the functional test flight checklist of the manufacturer is a widely accepted practice to ensure that it aligns with expectations and defined minimum requirements.

Deciding on the ownership structure is also an important key to open the doors leading to have a business aircraft at your company’s disposal.? Weigh the benefits and drawbacks of various ownership forms. In line with the "Let's define your needs!" items, this will not be a big deal.? Since, each possible option has its pros and cons.

Once you have completed all of your investigations and inspections and feel that your expectations are met about the aircraft in consideration, discuss the terms and conditions of the deal. Consulting an aircraft broker or acquisition expert might help to discuss a price about the aircraft's current value.

Taking care of the final paperwork and legalities is also a task. They must all be completed and evaluated by attorneys specialising in aviation law.

Merry Christmas and a happy new year!

Captain SAVA? üSKENT

? December 24, 2024