5 Ways To Charter A Private Jet For Less

Posted by on 21/08/2014

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The demand for corporate air travel has never been higher yet individual and businesses often have very different need when chartering a private jet. Whereas high net worth individuals will expect their own jet to be at their disposal, a company may require a fleet of planes to fly employees to their destinations. Here are the five main ways that personal and business customers are using to chartering private jets for less in 2014.

#1. Pay-As-You-Go

Many companies such as Arrow, JetSuite and JumpSeat offer pay-as-you-go rides on private jets for both individuals and businesses. Arrow charges a monthly membership fee whereas JetSuite simply charge per flight. These services work by having customers search for available flights and then paying per seat or per leg. Therefore, these services are rarely suitable for companies with precise logistics requirements but may be suitable for individuals who prefer to fly in a private jet for the cost of flying business class or first class on a commercial airline.

#2. Block Chartered Flights

Block chartering flights is an increasingly common way for corporations to open up the world of private air travel to their employees. With no management or maintenance fees to pay, block chartering simply applies fixed, transparent preferential rates across a fleet of privately owned jet aircraft. In these schemes, members can select the most suitable jet depending upon occupancy. This helps lower costs while providing flexibility.

#3. Fractional Ownership

For companies unable or unwilling to lease or purchase jet aircraft, fractional ownership is an attractive solution. By owning a portion of a jet, a company has an agreed number of flight hours per annum to book and use as they see fit. Unlike block chartered flights, companies who enter into fractional ownership are tied to one particular aircraft.

#4. Leasing

Many companies use aggressive leasing to purchase and utilize a jet. By subleasing the jet, they gain valuable income that can offset the cost of leasing the jet. By renting out the jet to other customers when not in use, ownership is more attractive.

#5. Aircraft Management Programs

Both fractional ownership and leasing come with a range of drawbacks including scheduling conflicts that aren’t easily avoided or overcome. Many individuals and business owners choose to enter into aircraft management programs. This lets them retain exclusive use of their own plane with the convenience of private charter flights while reducing outgoings and expenses significantly. Companies running such programs offer their members discounted fuel, insurance, maintenance and even reduced crew costs. While management programs attract annual fees, these costs are offset by the discounts on offer.

Conclusion

The five main ways to charter a private jet for less each come with their own benefits and disadvantages. With the right approach, private air travel has never been more affordable for individuals and corporations alike. Increasingly, many customers are looking more towards a hybrid approach such as block chartering. This appears to be a more fiscally responsible solution to executive corporate travel needs.