Are you looking to buy or rent a private jet because your mode of transportation is suitable? Our team of business aviation experts will provide you with all the elements you need to consider to help you decide to take the plunge.
The 2008 crisis hit the business aviation market hard . The number of personal aircraft or private jets for sale had increased considerably, representing more than 20% of the global fleet . As the crisis affected travel budgets, companies turned to more economical solutions such as on-demand rental of private aircraft .
In 2020, there are 20,000 private jets available worldwide. Half of these jets belong to airlines and the other half to private owners , so a balance is respected. The current situation offers interesting purchasing opportunities. However, many elements should be observed in detail to determine the benefits of acquiring an aircraft. And if profitability is not proven, what are the advantages of renting a private jet on demand.
Buying or renting a business jet : what are the differences?
Buying a private jet: why?
Purchasing a private jet for sale allows you to have full ownership and thus have total freedom in using your aircraft whenever and wherever you want. Your private flight is subject to less stringent regulations than when renting a private jet which must meet the criteria relating to Public Passenger Transport.
From turboprops to business jets to regional jets , there are as many types of aircraft as there are destinations. You must first determine your needs:
- What are the places you go to and how far are they?
- How long are you staying there?
- How many passengers do you usually have on board your planes?
- Are there any restrictions on the fields you land on?
- Are you traveling with bulky luggage?
There are many ways to acquire a private jet and new ranges of aircraft offer different advantages in terms of speed, passenger capacity or distance. It is therefore essential to clearly define your needs in order to acquire a private jet at the best price .
Why favor the rental of a private plane?
Renting a private jet is much less expensive than buying one. You will need a few thousand euros to charter a private jet . Renting therefore allows you to avoid a significant investment that may turn out to be unprofitable. Renting an aircraft also offers great flexibility. For each flight, you will be able to choose the aircraft that is best suited to your flight time and the number of passengers .
Because flying should be a pleasure, you will also be able to rent a private jet according to very specific needs in terms of comfort. This depends on the model but also on the private jet manufacturer you choose: Bombardier, Beechcraft, Cessna, Dassault Aviation, Embraer, Gulfstream Aerospace etc.
Visit our private plane page to understand all the issues involved in renting.
Buying or renting a private plane: what are the criteria for choosing?
There are many parameters to consider when choosing between buying and renting. Let’s focus on three key factors to understand the issues.
1. A very fundamental distinction between Public Transport and Private Transport
2. Flexibility: Advantages of chartering a private plane
3. Access to airports for all types of aircraft
Generally speaking, chartering a plane gives you more freedom. However, during the summer months, private plane rentals are on the rise. Sometimes, charter prices increase and there is a shortage of available planes.
How to buy a private jet?
Before buying a new, luxury or used private jet, ask yourself several questions. What size aircraft do you want? Indeed, its passenger capacity is an important element. You should also consider the use you want to make of your jet.
What kind of distance do you need it for? Regular flight? Long distance? Short trip?
In fact, a small plane will have to stop more regularly to refuel. If you are looking to save time over a long distance, you will therefore have to choose another model. Conversely, the operating cost of a large aircraft will be higher. So, if your flight time is rather short, take this into account when choosing the jet.
Then, it is also possible to get a used private jet to reduce the purchase costs. You will then need to know the number of flight hours of the model you like as well as the number of its landings. Finally, do not forget that a private plane requires maintenance. It is mainly this expense that you will need to evaluate on an annual basis. Added to this are additional costs such as insurance, safety inspections, fuel prices, pilot and crew salaries, etc.