The coronavirus pandemic in 2021 has accelerated the trend towards increasing private jet travel. More and more travelers prefer the safety, flexibility and comfort of a private jet. Private flights are used by families with children for vacations, by businessmen or corporations, as they are a way to quickly and comfortably get to an appointment, and also by other travelers looking for entertainment, culture or sports. If you regularly rent a private jet , it is time to think about purchasing your own private jet. How to decide and what criteria to consider? The JetBee team has prepared a detailed guide for you.
A private jet is not an unnecessary luxury, but a functional solution
Many people have the means to acquire a private jet, but ultimately prefer to rent it. The common reason is that they consider it a whim and additional hassle. Given the developments during COVID-19 and beyond, owning your own private jet has suddenly appeared as a more pragmatic solution. Saving time on check-in or stopovers is very important, especially for businessmen, as this time saving is associated with saving money. This money saved can then be invested in purchasing your own jet.
If you are one of those people who often use private jets , it might be more advantageous for you to acquire your own aircraft or share it with other owners. There are many types of aircraft on the market and this does not mean buying a presidential Boeing or a large GulfStream straight away. Smaller jets, light jets and jets are sold at a much lower price. In addition, if you look at the second-hand sale, which is common, you can buy your own aircraft for a few tens of millions of crowns. You then have the opportunity to acquire a part of an aircraft, that is, you become the owner of a proportional part. This service is offered, for example, by the company NetJets, founded by Warren Buffett.
You also don’t have to worry about your private jet being tied up in a hangar if you don’t use it and losing money. It’s easy to contact an operator, such as JetBee , and rent the plane from them. The operator ensures that your plane is used to the maximum , allowing you to monetize your plane and recoup some of the costs.
Breaking point – when is it beneficial to buy a private jet
If you rent a private jet, the operator makes every effort to find the most optimal solution based on your needs and wishes, as well as the best price. In some cases, you can also use the empty legs offer , i.e. empty flights – an empty plane that picks up passengers or returns to the departure airport. The price of a plane ticket is then a fraction of the original price of the plane ticket. In principle, this is a variant of last-minute plane tickets from commercial airlines that offer unoccupied seats before the flight, but in the private flight sector. The advantage of empty legs is that it may not be a specific airport of departure or landing of the plane. If your destination is on the route, the private airline can pick you up or drop you off there.
But if you fly often, if you need to book a plane at the last minute or just before the flight, you do not know the number of passengers, it is worth thinking about the idea of acquiring your own private jet. The moment when you start thinking about acquiring your own plane is called “breaking point” or “break-even”. This is the first step where you will realize that it is more advantageous for you to acquire your own private jet rather than renting it, because it is cheaper. This situation usually concerns travelers who do about 400 hours of flight or more per year. You will find on the Internet many questionnaires with specific questions that will help you know if it is better for you to buy a private jet or if it is better to rent private planes. You have taken the first steps … and now?
How to choose a tailor-made private jet
When you find that it is more advantageous for you to buy a private jet rather than rent it, especially thanks to the questionnaire or thanks to your own experience, you have other decisions to make. You can browse the Internet, buy brochures from aircraft manufacturers or contact your operator who will help you choose the most suitable aircraft . The JetBee team remains at your disposal.
The very important aspect when making a decision is the destinations you are flying to. Are you traveling more within Europe or also overseas? This information is essential to determine the type of aircraft and especially its range. It is also important to know who you are traveling with and how many people will be on board. The choice of the type of aircraft will depend on the situation, whether you are a businessman, a manager who is taking a few partners, whether you are traveling with your family, whether you are taking a whole team for negotiations or whether you are a sports team with several players. In the first two cases, a six to eight seater aircraft, such as Hawker BeechJet , will suit you perfectly.
Another criterion is comfort and your overall attitude to flying. Will you be satisfied with a narrow and low cabin (the approximate height in the smallest planes is 150 cm) or are you rather claustrophobic and afraid of flying? Do you want to walk during the flight, stretch your legs and straighten your back? All of these are criteria that you should consider when choosing your plane. Purchasing a private plane is affordable, but it is still a relatively high sum and above all a long-term investment . It is therefore wise to think carefully before buying. Once you have found the answers to all these questions, you will have a relatively clear idea of the category in which you are located and you can start your search for a specific type of plane.
How to Finance the Purchase of a Private Jet
Few people have several tens or hundreds of millions in their pockets to pay for their plane and fly away immediately. Financing of private aircraft by a bank or loan is much more common. Both types are offered by special divisions of Czech and especially international banks. This type of financing works on a different principle than ordinary loans or leasing or mortgages. Its conditions are set in such a way that the new owner of a private jet can use it as he wishes and has free rein in its operation.
The control of the client, beneficiary of a bank loan for the acquisition of a private jet, is also much more detailed and thorough, compared to ordinary loans. The client must prove his financial credibility , the results of his operation, the solvency and also the guarantee, ideally in the form of patronage of a certain corporation. In the past, it was possible to guarantee by the value of the aircraft itself, but this does not work anymore. In general, to obtain the finances to acquire an aircraft, the bank will require an initial deposit that will amount to at least 20% of the total amount.
Participatory ownership of an aircraft as an alternative
There are people who would like to buy their own plane, but either they do not have enough funds or they do not use it enough, which makes it unprofitable. There is also the option called participatory ownership of an aircraft. This means that the client does not buy an entire plane , but only a part of it. The client has a private jet but is not obliged to pay the full price. This service is offered by companies that have several planes, which is another advantage, namely, if two participants want to fly at the same time, the company offers them an alternative in the form of another plane.
How to Use a Private Plane
The operation of an aircraft is a relatively complicated process that requires many operations , collaboration between specialists of specialized professions and also cooperation between offices and institutions. If you think that having a pilot’s license is enough, you are wrong. A private jet requires much more attention than just knowing how to fly.
Using a private jet requires a place to house the aircraft, a flight crew, regular checks and maintenance of the aircraft, handling agents, airport check-in service, flight planning , management and maintenance, permits, administration and many others. One person is not able to perform all these functions. Contact an operator who is knowledgeable in this field and who will assist you. JetBee company offers its customers all services related to the use of an aircraft , including transportation to and from an airport, restaurant reservations and accommodation or catering on board the aircraft and on-board service.
You are considering buying a private jet. Contact us , we will advise you and possibly help you to settle all the formalities and we will take care of the smooth use of the aircraft.
