Are you purchasing a private jet for yourself or your client(s)? Private jet sales are down 6% from 2022, implying we are entering a buyer’s market. There has never been a better time to buy a private jet.
Yet one thing many new buyers forget to consider is storage and maintenance. And have you thought about what you’ll do with your private jet when it’s not in use?
At Jackson Jet Center, we have nearly 40 years of experience managing aircraft for our private jet clients and customers. Meanwhile, our private jet charters can turn your jet from a luxury asset into a major source of cash flow.
Are you wondering why Jackson Jet Center is the best fixed-base operator to manage your aircraft? Keep reading to learn how we can help you run a profitable private jet business.
Why Is Private Jet Ownership So Complicated?
Owning a private jet requires a lot of time and money to keep your asset in good shape. This is true no matter how frequently or far you fly. Here are just a few of the factors making private jet ownership so complex.
Even when it is not in use, your plane has to undergo regular maintenance. Routine maintenance includes 25-hour, 100-hour, and annual inspections. Pre-flight checks are also important for keeping your jet in good shape.
Why is regular maintenance so important? Inspections are preventative in nature, and they can help keep your plane compliant and passengers safe.
If you plan to turn your private jet into a business, maintenance is even more critical. Routine inspections improve your jet’s performance. It can even extend the lifetime of your asset.
Flight Crew Administration
When your plane is in the air, there are also private flight crews and pilots to consider. You must first find the right crew and a highly-qualified pilot to lead them. Then, you have to factor in costs for their salaries and wages.
Something you may not realize is that you also have to provide accommodation for the pilot and crew during trips or else pay to send them back home. If you plan to stay at a destination long-term, these costs can start to add up.
The median annual salary for pilots and co-pilots alone was $203,010 in 2021. And if you want the best of the best for your plane, expect to pay much more.
It is not uncommon for private jets to get damaged during operation or even while grounded. When this happens, you need to hire an aircraft repair team.
And these repairs are not DIY jobs. If improperly done, the repair could impact your jet’s airworthiness. There are also best practices for maintaining aircraft integrity during repairs that only highly-trained professionals know how to use.
Major repairs can cost tens of thousands of dollars. Worse, if you hire the wrong repairman, your aircraft’s airworthiness could suffer. You will have to pay countless more dollars to get your plane back up to FAA standards.
Private aircraft owners have two options when it comes to storage. You can either build a hangar on your own private property or store your jet at a third-party hangar.
The former option is cost-prohibitive for many owners. Renting a hangar at a public airport is the less expensive option.
But the best option is to choose private hangarage through an FBO. Fixed-base operators lease private spaces inside major airports. They are smaller companies with a high focus on customer service for clients like you.
Private jet insurance is one of the largest cost factors in owning aircraft. According to Flying Mag, private jet owners must pay anywhere from $10,000 to more than $50,000 in insurance each year.
The exact amount you will pay depends on a few factors. For example, if you want to charter your jet, insurance costs more. Private jet use alone comes with a lower insurance premium.
At Jackson Jet Center, we can act as a broker for your aircraft insurance needs. Charter your plan with us to save countless dollars on insurance premiums.
Solutions for Private Jet Owners
Private jets have been around for decades now. So, it should be no wonder private jet owners have many options when it comes to cutting operational costs like the ones we just mentioned.
Three of the top solutions for cutting private jet ownership costs are partial ownership, private jet club memberships, and charter services.
Private Jet Club Membership
Private jet clubs allow members to pay a monthly fee for the use of the club’s aircraft. Most clubs charge on a per-mile or per-hour basis.
Still, this is usually the least expensive option for frequent private jet flyers. Another advantage to this option is that the club takes on all the operational duties for its members.
The downside to this option is that members do not own the planes they fly on. That means you can not monetize the club’s jets for your own profits.
Partial or fractional ownership is an investment model where multiple buyers compile funds to purchase an asset. In this case, the asset is a private jet.
Fractional private jet ownership lowers the overall cost of buying and maintaining a plane. Yet, partial ownership does not eliminate the need for hangarage arrangements, flight crew administration, and maintenance.
Also, it is much harder to profit from your share of ownership. Your co-owners will have to agree to charter the plane when not in use. Then, you must split the profits between owners.
Private Jet Charter Services
Private jet charter service providers offer the best of both worlds. You can own your jet in full, use the provider’s hangar and flight crews, and the company will maintain your aircraft for you.
Of course, all these benefits come at a price. Private jet charter services tend to be the most expensive ownership model, though it’s still cheaper than maintaining the aircraft yourself.
The benefit is that you can offset this higher cost by chartering flights on your jet when it is not in use. You will also save countless hours because the chartering company will take care of operations and administration for you.
Jackson Jet Center Airplane Management Services
Owning a private jet may be expensive and time-consuming for some owners. But not when you work with Jackson Jet Center. We offer full-service aircraft management agreements tailored to your unique needs.
When you work with us, you can not only lower the time and money it takes to own a private jet. You can also turn your asset into a profit machine with our managed charter offering.
Here are just a few of the services we can offer you.
Oversight and Compliance
Do you plan to take your private jet overseas? If so, you have to ensure your flight path adheres to the regulatory requirements of the countries you plan to visit. This is an overwhelming and convoluted task for many owners.
When you work with Jackson Jet Center, we take care of compliance issues for you. That way, you and your chartered guests can sit back and enjoy the ride.
Private and Secure Bookings
Another major downside to solely operating your own private jet comes if you decide to rent it out to other flyers when you are not using it. You have to arrange the bookings, flight crew, hangarage, and more.
Let Jackson Jet Center take care of private jet charter booking needs. We have expertise in handling these tasks seamlessly and with the ultimate discretion.
Flight Crew and Pilot Sourcing
Many private jet owners do not have the network to source high-quality pilots and flight crews. Even if you do manage to hire qualified staff, you must then worry about training.
Jackson Jet Center employs and trains the pilots and crews you need to offer guests the most professional flying experience.
Flight Crew and Pilot Administration
At Jackson Jet Center, we won’t just find and train a flight crew and pilot for you. We will also manage all aspects of flight crew operations, from training and wages to staffing and scheduling.
We use a full-time, in-house human resources team. Rely on our experienced HR professionals to take care of all your administrative needs.
Private jet chartering is not your full-time job. You may not have time to handle the financial matters required to turn your private jet asset into a business. The larger your profits, the more complicated your business finances get.
With Jackson Jet Center, you can streamline your financial operations. We provide monthly reports and invoices for simplified financial management.
To extend the life of your asset, you need the best of the best maintenance and repair services. We are a Textron Aviation-authorized service center, meaning we only employ top-notch maintenance engineers.
We will also handle all routine maintenance and pre-flight checks needed to keep your private jet airworthy and FAA-compliant.
The Benefits of Our Management Services
Of all the chartered jet service providers out there, why is Jackson Jet Center the one for you? First of all, few companies can offer the full menu of services we have been providing to our clients for over 38 years.
If that is not enough to convince you, here are three more reasons to partner with us.
We have been in the business for nearly four decades. In that time, we have created relationships with major players in the industry. This is why we are able to offer savings on critical private jet costs, including but not limited to:
- Fuel purchases
- Flight crew training
- Aircraft insurance premiums
- Aircraft maintenance
Our clients save an average of 25% on fuel costs alone. Meanwhile, our expert Textron maintenance services come in at 10–20% less than retail. All this means more money for you to reinvest in your private jet business.
You know managing a business takes time. But managing a business in an industry you are not familiar with can easily overwhelm even the most seasoned business professionals.
We take the more difficult tasks of running a jet charter business off your shoulders. Our experts can handle everything from travel logistics, chartered flight scheduling, hangarage, and FAA compliance.
We can even help you source new private jets to add to your chartered fleet. All our services are designed to ensure you have the time you need to focus on your other ventures.
You can get all the benefits we’ve talked about for your own personal private jet flights. But if you choose to rent or lease your plane to other travelers, you can also extend these services to your customers.
A chartered jet can earn anywhere from $4,000 to $20,000 per hour. Leasing out your plane can help offset the cost of ownership. You can even start to turn a profit over time.
With Jackson Jet Center’s help, your private jet charters will earn a reputation for quality and luxury. That way, you can maximize earnings from your private jet charter business and invest money into buying more planes for your fleet.
Let Jackson Jet Center Manage Your Private Jet Charters Business
Private jet charters are a great way to profit from your investment. But to reduce operational costs, save time, and make more money, you need to partner with Jackson Jet Center.
Are you searching for FBO services in the Phoenix or Boise area? Jackson Jet Center offers full-service private jet management and chartering. Contact us today to start customizing your bespoke service agreement.