Private Jet Use Has Its Options

Utilizing a private jet brings connotations of exclusivity and luxury. However, with a beginning price tag of five million dollars (and that for a "small" jet) private jet ownership is expensive. That makes all the "exclusive" features of a jet well deserved. Still, there are options for private jet use that can get the same (sometimes better) benefits of full ownership.




One option is to buy a card. These cards come in two styles, fractional cards or charter cards. With fractional cards one buys a set number of hours on a card, and can fly in any jet in that company's fleet. Charter cards are where one establishes a set amount on the card and time in flight is debited from the card at an hourly rate. This option is nice because one is not limited to one aircraft but a whole fleet to choose from, as opposed to ownership where one would be limited to the aircraft they own.




A second option is to simply charter a jet for single use. This is a great option if jet use will be infrequent and on-demand jets are not needed. Also, very good if one's jet aircraft knowledge is low, the charter company can decide which aircraft and staff to use for that particular flight.




Options are good because full ownership is expensive regardless how rich one is. In addition to the original sticker shock (jets range from $5 million to $40 million), there is the maintenance fees, hangar costs, insurance, taxes, fuel costs, airport fees, and pilot salaries. One finds that purchasers of such aircraft often do not hold then for lengthy periods, unless they can hold them under a company umbrella. It is more likely to see a CEO of publicly held company have ownership than it is to see a self-made entrepreneur own a jet. That is because a company executive can see the jet as employment benefit, while the entrepreneur would see it as money coming out of his pocket.




Still, it is likely you can see both in a private jet, but the smarter one (the one watching the bottom line) will be flying in a jet that brought financial options.