Last week, we wrote about the current market trends in aviation. While it’s a mixed bag, Gulfstream and Bombardier are leading the way, as well as large-cabin corporate jets. Private air travel helps companies conduct business. But how they are getting aboard?
Some companies are turning to the convenience of corporate jet ownership. This is especially true for global enterprises. The desire to expand internationally has increased the number of large-cabin corporate jet deliveries, as these aircraft allow longer-range flights with more people aboard. These jets are often used by companies wanting to get into new and developing markets like Eastern Europe and Russia.
One of the other bizav trends is refurbishing older corporate jets. This gives a company the convenience of a private jet without the costs of purchasing a new one. Companies in developing markets are more likely to refurbish, allowing them to take advantage of the preowned jet market. Refurbishing is especially popular option for companies in Africa and South America.
Charter services and leasing options are filling the gap for companies that want the convenience of private jet ownership but don’t travel enough to warrant owning a jet outright. Online charter companies allow you to search for available private jets, much in the same way travel sites allowed you to book a seat on a commercial flight. Some bizav companies allow you to lease a private jet for 6- or 12-months at a time. Fractional ownership is another way to avoid taking on the cost and liability on your own, although you’ll find yourself having to work around the schedules of other people more often.
Trends like chartering are great for companies that own corporate jets, too. This is an opportunity for your company to defray some of your own costs. You’ll retain control of your jet but offer it up to others for a fee when it’s not being used. There are many websites that allow you to list your jet’s availability for a monthly charge.
Private jet travel is beneficial for any company working in international markets. Being able to meet face-to-face with international clients will save your company time and trouble in the long run. You’ll also have an edge over competitors who aren’t able to make that trip whenever needed. Private jets help businesspeople get business done.