Owning Vs. Chartering A Private Jet

If there was one thing that is more precious for business executives than anything else, it is time. Hence, it is universally agreed that commercial airlines are not a really time efficient option for high profile businessmen and executives if they have to travel constantly. If executives travel 4 -5 times a week, even economic efficiency goes down. A much better option would be to go for a private jet in those cases. A private jet provides flexibility to fly wherever and whenever you want as there are many airports which are not served by commercial airlines. It also saves check in and checkout time, baggage checking and waiting time at airports.

Benefits of Owning a Private Jet Compared to Chartering

Whether you want to buy a private jet yourself or use a chartered jet as and when required is an interesting debate. If you own the jet, you don't have to worry about calling the services and booking the jet all the time. Often you might need to fly urgently to some place for a client meeting. The private jet of your choice might not be available. For top class business executives this could be really annoying. Also, there has to be a dedicated resource to keep track of the person's itinerary to ensure a private jet is booked beforehand. But you need prior notice of at least 2 - 4 hours or more to charter a jet, which might prove expensive sometimes.

If you know that you have to travel a lot, near and far, owning a private jet works out to be much cheaper than chartering a jet every time. Add to it the hassle of booking every time, sometimes everyday makes owning the private jet a better option.

Benefits of chartering a private jet compared to owning it

Owning a private jet brings a lot of headache along with it. You have to worry about licensing. You have to make the private jet Stage 3 compliant if it is not already. You have to maintain the jet with regular checks by flight mechanics. You have to arrange for parking and security on airports. Besides, the costs of extra fuel, the crew, the pilot, space and maintenance can turn out to be a lot. If you do not travel way too often, all the overhead is not really worth the cost. Chartered jets are available at very short notice. You can usually get the jet of your choice with one call. In fact, you can look for discounts if you travel quite often. The luxury and time efficiency is completely there without the added responsibility.

If you are really unsure how often you need to travel, then a chartered jet is a far better option. If not used to full extent, the excessive investment of millions of dollars on a private jet is not worth it at all. You might even run into tax problems and extra insurance charges if you own a jet compared to using a chartered jet. A chartered jet is just like a commercial plane except that you will save a lot of time.