Sunday, October 2, 2011

Renting Or Purchasing A Private Jet For Your Business

By Violet B. Cardiel


It is quite common for businesses, as well as some individuals who fly often with a large group, to rent or buy a private jet instead of continuing to purchase tickets for commercial flights every time they need to travel by air. There are three primary ways for obtaining a private jet for personal or business use and each method has its own ups and downs.

If you have the capital required to afford it, you could very well go out and buy a jet of your very own, but outright ownership is typically something that only big companies seek. When it comes to full ownership, the owner is in charge of much more than just paying for the jet, because there is a long list of other expenses that will be ongoing; like, maintenance, storage, fuel, etc. A corporation that is big enough to afford this type of purchase doesn't usually have any trouble with the expense.

Your next available option would be to rent yourself an aircraft through a charter service, and they don't have any ongoing expenses for you to cover. A charter company keeps many different aircraft on hand so they can have one to rent out to as many clients as need one. All you have to do is call the company you want to book a flight with and tell them where you want to go and when you want to leave and then meet them at the airport when you're ready. If you go with one of these particular services, you will be asked to pay an hourly rate along with a few other charges that occur during the trip, or you could use a jet card.

Your final option is to participate in a fractional ownership, which is basically where you and a group of other individuals pay for a certain amount of annual flight time on the same aircraft. They each get a specific amount of hours per year, usually one hundred or so, in exchange for their expense, and the share that they buy can be sold or transferred to someone else, just like a timeshare. Maintenance and storage is typically handled by the company that set up the deal for an additional monthly fee.

If you utilize any of the three methods mentioned above, you will be able to take flight in a private jet one day. After you finally make the decision to settle on one method or another, you will be flying in the lap of luxury.




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