Should You Buy a Private Jet for Your Business?
Many businesses for which travel is part of daily life feel pressured to purchase an aircraft. Owning a private jet affords certain conveniences and may be a logical step for some. However, purchasing an aircraft does not make sense for every business.
How Many Hours Are Spent Traveling?
As a general rule of thumb, it is often recommended that companies purchase a private jet if more than 250 hours per year are spent traveling. While not every company that spends more than 250 hours traveling should purchase a private jet, companies that use fewer travel hours really do not need their own private jet. If more than 250 hours are spent traveling, it may be worth looking into purchasing a plane, but other factors should also be considered.
Are Multiple Trips Taking Place Simultaneously?
Some companies fit the bill for the number of travel hours, but often require more than one plane to be in the air at a time. If employees must travel from multiple locations to various destinations at the same time, it may make more sense to charter flights than to purchase a plane. Some charter companies offer memberships and jet cards that can save a company money on flights.
How Much Time Is Spent In Destinations?
Depending on the company type, employees may be required to stay at a destination for a long or short period of time. If trips are generally less than a week, purchasing an aircraft may be worthwhile. However, if trips often last several weeks, it will be necessary to transport the pilot and staff back home, hangar the aircraft, and then transport the pilot and staff back at a later date. This is generally less efficient than chartering a flight.
If you are looking into purchasing a private jet for your business, call West Palm Jet Charter today and speak to one of our professionals. Our staff has experience with both charter services and acquisitions and can help you determine the best choice for your company.