Corporate jet travel is a growing market, not just in North America but throughout the world. The integration of the European Union has increased the amount of long-distance business travel in that area, and the emerging Far Eastern markets are also overgrowing. The market is growing across all of the private jet hire business market, from the large jets based on the designs of primary commercial aircraft to the very light aircraft becoming increasingly popular.
These are increasingly used by wealthy individuals and the staple of the air taxi industry. The majority of private jet charters are somewhere in the middle range because a very light aircraft puts strict limits on the number of executives who can travel at any given time.
Very few corporations can afford to buy one of the heavy jets. Still, uncertainty about the number of executives who accept corporate jet travel usually means that buyers want something in the middle range. Having the capacity available gives you freedom and flexibility even if it will not be used that often.
Corporate Jet Travel: When Should Consider Buying A Jet?
Some corporations decide to take the uncertainty out of the corporate jet charter market by buying outright. This puts the entire burden of maintenance and repair upon the buying corporation, although the risks of early breakdown can be defrayed through insurance. Before you can even think about buying, you need to be sure that your demand for the service will be constant enough to justify this.
It would be best if you also had a clearly defined idea of how many executives will be traveling consistently. One option which is becoming increasingly popular with corporations who cannot justify the expense of owning an aircraft outright is fractional jet ownership.
This will cut your expenses in half at the very least, depending on how many corporations sign up to the agreement. The agreement is likely to work well if you can find a good match between corporations.
It would help if you found a partner corporation that requires executives to travel at a fundamentally different time from yours. There will almost certainly still be occasional times when there will be a conflict of interest, but you can always charter a plane to cover these.
Getting The Best From Corporate Jet Travel
If even shared ownership is too much of a commitment for you, you will need to get the best deal you can from corporate jet travel brokers.
It will help the business jet owners get recognized by people who want to hire their jets and make commissions on both sides. They can get you the best deal because they are constantly aware of the availability of specific aircraft.
On top of this, they can arrange the other details of your business trip. You will get your accommodation and transfers booked as well as your corporate jet travel.
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