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What does it cost to own and operate a private jet? While buying your own private aircraft is about having the freedom to fly wherever and whenever you need to, the cost of operating that business tool is about more than just the price of the plane and the fuel to fly. Take a look at this list of costs that you will need to consider, depending on how often you fly and what features you want to have on each flight.
- Annual insurance premium — Just like your vehicle, home, or boat, it’s necessary to have insurance on your private jet. The cost of insuring your plane is similar to your car. It takes into consideration replacement value and miles flown each year.
It also has an additional factor — the pilot. Most people who buy a private jet are not the pilot of that jet, and if other people are allowed to fly the plane, they are typically named on the airplane insurance policy. The insurance company will want to know that the named pilots are qualified and will base your premium on their flight records, hours in the air, and other specifics.
- Storage — Whether you choose to house your plane in a hangar or tie it down on the runway when it’s not in flight, storing your plane costs money, just like a parking space.
- Maintenance costs — Again, just like a vehicle on the ground, your plane will need regular maintenance. You can typically get a good idea of the recommended maintenance schedule from the manufacturer, and the costs will depend on the provider you choose.
If you park your plane near where the maintenance and repair facility is located, you can often save a little by being a frequent customer. In addition, don’t forget to calculate the cost of the annual inspection.
- Salaries and benefits for the crew — Depending on how often you fly, you may want a consistent pilot and crew, versus the “rent a crew” option. Your crew may be employees of your company or another; either way, you’ll need to consider how much that will cost.
- Take-off and landing fees — Any plane that lands at an airport must pay a landing fee, based on maximum takeoff weight, which can vary dramatically from airport to airport.
- Catering — If you are hosting guests and want to wow them, you might want to factor in catering options. These costs may include food, ice, alcohol, and other options that aren’t normally stored on board. Don’t forget to consider children or pets! Likely, they will need special accommodations.
Private jet ownership means leaving your personal belongings on board and having your jet ready to leave when you want to leave. You control who does and does not fly or ride on your aircraft. You get to hand-pick the staff and customize the aircraft as you desire.
Still, there is no magic formula for figuring out the total cost of private jet ownership. It depends on the aircraft, how often and how you fly — and your personal choices.
Contact L & L International if you need assistance in purchasing or selling a private jet.
You can reach our sales specialists today at sales@L-Lint.com, call us anytime at +1.305.754.3313, or visit us online.
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Over 60 years ago, when the federal standards regarding the strength of airplane seats and passenger safety belts were established, the average passenger weight was recorded as 170 pounds. The typical American man now weighs nearly 200 pounds and the average American woman 165.
Engineers and scientists have recently begun raising questions about whether airplane safety belts and seats — which are tested with 170-pound crash dummies — are strong enough to protect heavier travelers. In theory, if a seat collapsed or a safety belt failed, not just one passenger would be hurt. Those nearby could also be endangered by the unrestrained motion of the unsecured passenger who was too heavy for the equipment.
In 2005, the Federal Aviation Administration (FAA) updated the average passenger weights used in calculating every flight’s weight and balance. That summer, calculations were raised to 200 pounds for men and 179 for women, with higher weights for the winter when passengers wear heavier clothing.
While the width of airline seats is restricted by the width of the airplane body, the airline seat construction may not be strong enough to withstand the impact of heavier passengers on those seated behind them, simply because the testing protocols have not been updated. So far, much of the attention on air travel for larger passengers has been drawn to whether they need to purchase two seats.
The National Transportation Safety Board (NTSB) did recommend that the FAA begin collecting data about the size and weight of passengers flying in private planes to better understand whether the testing accurately predicts the effectiveness of seat restraints. The NTSB has not addressed the issue on commercial planes because investigators haven’t encountered any accidents in which passenger weight was a factor in being able to escape injury in a crash.
Equal safety, however, does not mean equal comfort. As airlines further restrict seat size to maximize paying customers, an adapted seat has been designed by SII Deutschland. This innovative design is one and a half times as large as the standard seat to accommodate wider passengers and the needs of toddlers traveling with an average-sized parent. These larger seats, as well as “comfort bookings” in which a traveler purchases two seats, are aimed at overweight passengers, but are available to passengers of all sizes, as well as those flying with children. Still other airlines have considered basing charges on each traveler’s weight.
While passengers focus on issues of comfort and the NTSB focuses on safety, it’s clear these juxtaposed forces agree that the testing regulations need to be updated to verify safety for all travelers with the presence of heavier passengers.
Contact L & L International if you need assistance in purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1.305.754.3313, or visit us online.
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Photo credit: Ultimate Ears
Why settle for sub-par sound? Now you can listen to music comfortably while you travel, just like music’s “top dogs.” Touring musicians all over the globe turn to California-based company Ultimate Ears’ in-ear monitors for customized, uncannily clear and crisp sound. You simply choose the model that’s best for your needs, pick your color, personalize your case, and choose a suitable cable color and length. Ultimate Ears will send you an impression kit, which you take to a local audiologist to have a mold of your ears made. Impressions are sent back to Ultimate Ears, where your headphones will be handcrafted. The final product will fit perfectly inside your ears, providing an unparalleled sound experience. Prices range from $399 (for non-customized models) to $1,999.
At the Aircraft Interiors Expo in November, Acro Aircraft Seating of the United Kingdom will be showing off its award-winning in-arm tray table. The table seat was recognized as a Crystal Cabin Award Finalist in 2013 and is now certified and flying. This innovative design is one of many from Acro that showcases the company’s formula for simplicity and innovative design.
Acro developed the in-arm tray table to address the shortcomings of the typical tray table design: Many tray tables are bulky, take up precious passenger space (which is always in short supply), and break easily. Not only is Acro’s in-arm tray table self-cleaning, but it’s also lightweight and line-replaceable in less than a minute. Best of all, it improves passenger comfort and visual appeal, as there is no need for the conventional, annoying tray-table closure. Also, the added benefit of cleansing ease improves efficiency for the operator. This innovation is in good company among the certified lightweight, robust, and comfortable economy seating solutions Acro continues to develop for regional, legacy, low-cost, and traditional carriers around the world.
Contact L & L International if you need assistance in purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1.305.754.3313, or visit us online.
Fly Jamaica Airways recently signed a contract with maintenance, repair, and operations (MRO) software provider TRAX to employ its maintenance and engineering program to manage the Fly Jamaica fleet. The TRAX Maintenance and Engineering solution has been developed with users to provide a comprehensive and advanced maintenance software solution with an unparalleled sales and implementation record. TRAX offers a variety of controls that record and maintain engineering information. In addition, TRAX uses job and work cards to assign duties, store documents, and enter essential tasks. Through productivity improvements enabled by TRAX, work can be planned effectively via detailed cost recordings.
Jose Almeida, president and CEO of TRAX, says, “Our goal is to provide Fly Jamaica Airways with an exceptional maintenance and engineering solution, and we are confident that TRAX will help improve the new airline’s overall operations.”
Fly Jamaica was founded in 2011 and currently operates routes between Kingston, Georgetown, New York, and Toronto, as well as conducting charters and cargo services. The airline is implementing the latest version of the TRAX software, which includes more than 20 modules to cater to virtually every aspect of aircraft maintenance. The modules can be implemented individually, but they provide the most benefit when implemented together.
The TRAX solution will assist with material, resource, fleet, and component management, as well as financial and technical records, and reliability. In addition, Fly Jamaica will now have aircraft, inventory, and maintenance activity integrated into one system, enabling a single interface for all its management needs.
Contact L & L International if you need assistance in purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1.305.754.3313, or visit us online.
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Buying a corporate jet can be an excellent move for businesses for many reasons. As with any major purchase, however, there is a wrong way to go about it. For the smoothest purchase process possible, keep in mind and avoid these common mistakes.
- Treat a business jet purchase like a car deal. An aircraft purchase takes weeks or even months — you can’t simply waltz into a dealership and negotiate a good price, then drive off the lot as a happy new jet owner. Private jet purchases are complicated deals that require you to identify your needs and then research to determine the right aircraft to meet those needs — and that’s just the beginning. Be prepared to put in the time and effort necessary for a successful purchase.
- Fail to compare all your options. With a firm grasp of exactly the business requirements that need to be met through a private aircraft purchase, it is imperative that you rigorously compare all your options, including charters, fractional ownership, whole ownership, and the like. Only with an open mind can you make the right decision for your organization’s situation.
- Focus solely on purchase cost. An aircraft costs more than simply the purchase price. Buyers need to understand capital and operating costs, and ensure they budget conservatively for maintenance and upgrades.
- Skim jet logs and records. Failure to conduct a thorough evaluation of jet logs and records for preowned aircraft spells danger. Dig into documentation, which should be complete and comprehensive, and include components with a limited life cycle, records of maintenance programs to ensure they conform to manufacturer and industry best practice recommendations, and damage history.
- Entertain the expectation that an aircraft will appreciate. The value of an aircraft should be viewed through its benefits to the organization, rather than as an appreciable investment. Buyers can expect their aircraft to depreciate at least 5% each year.
Finally, the biggest mistake that first-time and inexperienced jet buyers make is to go it alone. All of these common mistakes can be sidestepped through the guidance of experienced and knowledgeable professional assistance. Help from L & L International’s brokerage services will not only help you avoid pitfalls, but also ensure the details are addressed and your organization finds the right jet at the right price.
Contact L & L International if you need assistance in purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1.305.754.3313, or visit us online.
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Aviation history has been made with the world’s first solar-powered airport. In India’s southern state of Kerala, Cochin International Airport operates completely on solar power, making the airport absolutely power neutral. In fact, the 46,000 solar panels laid across 45 acres produce somewhere near 48,000 units of electricity per day, meaning Cochin actually makes more power than it uses. The excess power generated by the huge solar panel field boosts the state’s electricity grid. Over the next 25 years, the solar airport is expected to save 300,000 tons of carbon emissions — the equivalent of planting three million trees or erasing the environmental impact of driving 750 million miles.
“When we had realized that the power bill is on the higher side, we contemplated possibilities. Then the idea of tapping the green power came in,” V.J. Kurian IAS, Managing Director of Cochin International, explains. “We consume around 48,000 units (kwh) a day. So if we can produce the same, that too by strictly adhering to the green and sustainable development model of infrastructure development that we always follow, would transcend a message to the world. Now this has become the world’s first airport that fully operates on solar power.”
Cochin is not alone in making the move to greener energy. Terminal 2 of London’s Heathrow Airport incorporates solar power, as does Denver International Airport. When the new international airport in Mexico City is completed in 2018, it will be the most sustainable airport in the world.
These cost-effective and extremely efficient sustainable-energy systems are garnering the world’s attention, hopefully inspiring similar environmental moves across the entire air travel industry.
Contact L & L International if you need assistance in purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1.305.754.3313, or visit us online.
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What could be better than finding new and useful gadgets that make travel even more comfortable, fun, and enjoyable? It’s easy to see why these five made the top of our list of next travel treats to buy.
- Finding the office and coffee in a foreign language No longer do you have to wish for a fictitious device to translate alien tongues into your native language; translation technology has come a long way. When it comes to translation, the apps are where the action is. Applications make on-the-go translating fast and easy, and help travelers bridge communication gaps. Google Translate is one of the most popular, and it works with spoken words, text, and even pictures.
- Mobile multi-device charging Every sky warrior needs power, and extended travel wreaks havoc on your batteries. The ability to recharge wherever you are — and not weigh down your carry-on — is critical. Mobile chargers, like Mophie Powerstation Duo, allow you to recharge a device and a phone simultaneously by plugging into a micro USB or USB port, giving you the ultimate charging flexibility.
- Playing with Fido and Fluffy For all the pet lovers out there, Petcube is a sure-fire winner when you can’t take your furry buddy along. The compact cube connects with your home Wi-Fi and establishes a video stream that lets you keep an eye on your pet’s activities while you’re away from home. Going beyond simple voyeurism, Petcube has a two-way audio stream and a built-in laser pointer so you can talk with and hear your pet, and even play with him or her, from afar.
- No more group texting When you’re traveling in a group — with family, friends, or business partners — keeping tabs on everyone while you’re out and about is a nightmare. The Onyx group communication system is wearable technology that connects through smartphones and works in a closed system, much like the old walkie-talkies did.
- Presentations on fire When you need to make a good impression, your presentation deserves more than a tiny laptop screen — even on the road. BEM Wireless has a new high-definition, widescreen-display projector that can be set up nearly anywhere and connected to your laptop, tablet, phone, or flash drive for a high-powered presentation that rocks.
Next time you travel, tuck one or all of these little devices into your bag to make your trip even better.
Contact L & L International if you need assistance in purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1.305.754.3313, or visit us online.
One of the most prominent changes to come out of the most recent recession is the concept of a ‘sharing economy,’ in which people rent assets like cars, boats, homes, and other items directly from one other and coordinate that transaction over the Internet. Internet technology has infinitely reduced transaction costs and made sharing assets easier and less expensive than ever. New websites such as Airbnb, RelayRides, and SnapGoods match asset owners with potential renters, while smartphones and GPS allow individuals to access those assets. Online payments systems handle invoicing and payment in seconds.
Sharing the ride
This exemplifies the sharing economy, and it’s now taking established industries by surprise. Cab alternative Uber has brought the taxi industry to its knees, leaving an array of controversy in its wake. Uber made headlines for challenging policies that apply to traditional taxis, such as taxation and insurance; both of which are being skirted — for now.
Ride sharing in the aviation industry, however, hit a hard stop when it ran into the Federal Aviation Administration (FAA). The FAA issued a ruling in response to inquiries from ride-share startups like AirPooler and Flytenow. They asked the FAA for clarification on rules regulating their proposed operations: The ability for pilots to post trips they plan and to offer seats to potential passengers who are willing to share the costs. The fares vary and are set based on plane type, trip length, and other factors.
The FAA responded, “… you maintain that the AirPooler service is not a commercial operation and does not involve common carriage because there is no compensation of pilots. We disagree.” In other words, because participating pilots would receive compensation for operating an air service, the FAA determined that ride-share pilots must obtain a carrier license. Such a license is costly and difficult to obtain, creating a barrier to the market.
There has been much discussion about the FAA’s decision. Many critics note the decision was based on legislation enacted in 1964, which includes an exception for pilots to receive compensation without the commercial license requirement.
What is at stake for pilots and jet owners? Savings, savings, savings. The cost of aviation operation has doubled or tripled over the past 20 years; the opportunity to share those costs with potential passengers is extremely attractive.
The FAA has a tall order to fill: adapting to a new economy while adhering to legislation and maintaining uniform safety standards. In any case, the allure of ride sharing will keep pilots and passengers on the lookout for more cost-effective and mutually beneficial options for flight. And they will continue to watch the FAA as they grapple with these new challenges and opportunities moving forward.
Contact L & L International if you need assistance in purchasing or selling a private jet.
You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1.305.754.3313, or visit us online.
