Who Needs a Private Jet?
Your Dallas area business is expanding into new markets and partnering with new investors. To facilitate this growth, you and your team find yourselves traveling both in and out of state, and it’s time to start thinking about long-term travel solutions. Is chartering a private jet the right choice for your company, or would you be better served by owning a private jet? Let’s review the top factors that determine if chartering vs. owning is best for your business needs.
How Frequently You Travel
First on the list of considerations is frequency of use. If you’re only traveling a few times per year for work, the cost and responsibility of buying a private jet probably isn’t worth it. However, if you and your team travel several times a month, buying a jet may make practical and financial sense. When your company owns its own private jet, you no longer have to worry about booking your flight in advance or working around the availability of your charter provider’s fleet. Most companies do just fine with the level of flexibility a private jet charter can offer, but it all comes down to how frequently you travel.
Required Responsibilities and Maintenance
One of the biggest advantages of chartering a private jet is that you, as a passenger, hold no responsibility when it comes to things like maintenance. You aren’t the one who has to hire an experienced pilot. You don’t have to worry about things like annual inspections or FAA regulations. You don’t need to find a hangar and pay the annual fees to store and manage your jet when it’s not in use. Does someone in your business have the time, experience, and desire to take on the role of overseeing all of these decisions and responsibilities? If not, you may want to hold off on buying a jet.
The Versatility You’ll Need Throughout the Year
We mentioned already that owning a private jet may offer more flexibility than the already-flexible option of chartering. What you should also consider is versatility. When your company owns a private jet, you can customize it in a variety of ways that improve your flying experience. For example, you can upgrade your interior for greater comfort or install advanced technology to continue all business operations in the air. However, you’re also locked into a single jet. When you charter, you can hand-select your jet from an entire fleet each time you’re scheduling a flight. This offers more versatility in terms of the number of seats and luggage capacity, and also allows you to schedule two or more trips to different destinations at the same time.
What Your Travel Budget Looks Like
Buying a private jet is a huge investment for your company, costing a minimum of $5 million in upfront costs. How would this impact your travel budget? Consider how much you’re paying each year for the cost of private transportation. You can even factor in how much you’re spending on hotels for overnight stays, as jet ownership can bring your team to their destination and back in one day. However, ownership typically only makes better budgetary sense for large companies with multiple travel requirements each month.
Whether you’re chartering or looking to buy, North Dallas Aviation has the private flight services you need. Contact us and we’ll help you decide which flying solution is best for you and determine your next steps.