First Time Private Aviation Travelers Rise as Commercial Airlines Continue to Cut-back.
Summer of 2020 is coming to its end. Sad to see that the airports are no longer the same lively and thriving cornerstones of our nation with million of flying passengers on a daily basis. The skies are a little more clear as airlines have not been able to recover as rapidly as they would have hoped.
Without a doubt we can all agree that the global pandemic has certainly made an impact on aviation as a whole. An unpredictable event that had the ability to impact entire nations. Airlines have done an made incredible efforts towards providing to their customers during these unprecedented times.
Commercial airlines are able to implement service while blocking out middle seats to make sure that guest on board are able to social distance themselves. None the less for someone traveling through a commercial airport, you come in contact with around 50x more people directly/indirectly in your entire journey than you would flying privately.
“A number of folks are coming over from commercial,” said Andrew Collins, FxAir’s CEO. “They will pay the premium. They don’t trust commercial at this point, given the context of their lives and their health.”
International travel has been able to regain some traffic demand while domestic travel has been able to see a greater demand growth near the end of June. As the summer was coming to and end more individuals were making sure to get one last vacation in before the start of the school year. As more countries start to adjust their restrictions the demand to travel is increasing as well.
Although commercial airlines are seeing some slight demand increase they still are not at the levels that they were once operating at from years past. This means that although the rates may be great the routes and times may not be the most desirable.
For international flights that were once available with either a direct flight or with only one connecting flight in a major hub, could now require either 2, or 3 transfers with the potential of having to stay overnight in one of the stops.
When heading out for a vacation, or traveling for business loosing days for travel can be draining and costly overtime. Not to mention the time, the most valuable asset of all, once lost it can never been earned back. Considering all of these factors that can effect the over all experience of the traveler, flying privately can help to mitigate some of these uncertainties.
As commercial airlines experienced a decrease in demand, charter airline companies began to prepare for the worst as well. Their approach was more on the proactive side of catering to the changing demands and requirements. To do so they adapted in providing an assurance of cleanliness and sanitation within the cabin, in addition to the already high standards that were present.
As the summer comes to and end we can start to see the result of a summer of increased demand for private aviation in 2020. Charter operators have celebrated record high revenue in both June and July.
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Do you remember your first time?
It is understood that the vast majority of Americans are unable to afford private jet flights when it comes to their travel budget for work or for leisure. The individuals that have the means of being able to purchase these types of services are now interested more than ever.
Individuals or families that purchased large vacation packages in advance to celebrate a special occasion are not going to just cancel their plans. With the funds available to be able to avoid the inconveniences of commercial travel the option of flying private is now more attractive than ever.
First time customers of private aircraft have increased by 7 times this year with more individuals looking to take advantages of the benefits that come with flying private.Hakar Torres, Founder of Air Market Group
Certainly a route on a private jet can cost upwards to 10x the cost of the same flight on a commercial airliner. Although for individuals with compromised immune systems that can not be in high traffic areas such as commercial airports, traveling private allows them to continue to be able to travel without missing a destination.
Business that have previously flown their predominately their c-suite members or directors using private aviation, are now also flying more sales teams, business development managers and other essential operational members. Keeping staff members safe is important for the individual and the organization as they continue to operate.
Ways to get started in Private Aviation
Taking your first private flight is much more accessible than you may believe. The important element to remember about this industry is that there are various arrangements that are available, selecting the right one for your needs is vital to make sure you aren’t wasting money over the long term basis due improper planning.
The next section gives some brief detail in the different options that are available for those looking to utilize private aviation.
The most basic and straight forward approach is to reach out to either a charter broker or a specific charter operator and request for a single quote for a defined itinerary. The quote will be the total cost of the one time itinerary. Operators are often charge their industry standard rates which is most often per flight hour in addition to whatever ancillary fees may apply.
There is no obligation to have a long term relationship with the charter operator and if you only plan on using private aviation under 3 times a year then chartering flights may be the best for you.
As you start to find yourself flying private more often and now with other colleagues or family members you may be looking at finding a system that is going to work better for a flexible arrangement. Charter membership programs allow for guest to get discounted rates on request. In addition the perks can often extend beyond the aircraft with discounts on ground transportation, or even available upgrades in aircraft type.
Apart from being able to take advantage of the cost saving, you are also able to network with others in the membership. Many memberships host events and create exclusive lounges for members at aviation events to be able to network and connect with other members.
Charter membership are perfect for those who are finding themselves charting aircraft more often than just once or twice a year and are not yet ready for the commitment of ownership.
With private aviation rates can vary from one operator to the next and depending on when the request was made or how much time between the request and time of departure there can be additional fees incurred to the customer. Jet Cards are programs that allow for individuals or organization to reserve a set amount of time of flight time in advance.
They often require the individual to pay for the entirety of the card upfront. The benefit of purchasing the time upfront is that you are able to secure it at a set rate. Depending on the card that is purchased travelers can book flights within 24 hours before departure, and even ensure a value rate per flight hour as compared to if one were to request a single charter.
Fractional Ownership is a great way for multiple individuals or organizations to disperse the costs of owning a plane. A management company is often used to ensure the airplane is maintained, kept clean, and helps with scheduling between the part owners.
The aircraft is divided evenly and each portion is assigned a share that is equivalent to a specifically defined amount of flight time. Depending on the purpose of your flights this may be a great option for one to be able to adjust the amount of time they have access too. One could purchase just 1/8 share of the aircraft or decided to purchase 5/8 shares of the aircraft should they need to use it for more time but are not yet ready to commit to being the main owner.
The freedom that comes with being the sole owner of your aircraft is incomparable. For the international business professional, getting home just in time for dinner can be extremely important. Not having to check availability, negotiate prices, or have to wait hours before an aircraft is ready can make all the difference.
Owning an aircraft can often require an a large upfront expense, although with financing options in place many are able to obtain solutions to this minor setback. Finding the right aircraft for first time buyers can be like swimming in uncharted waters. Having the right resources and support to ensure you make the best decision can save you thousands of dollars in the end.
Owning an aircraft is a large commitment to make and there comes great responsibility with that. Fortunately you do not have to embark on that journey on your own.
Looking for more details?
Part of our mission to enrich the lives of our community through quality services and resources includes being able to help others navigate the market. By creating informative content that provides reliable data and being honest as well as transparent through the entire journey together.
Regardless of if you are just looking to get some information on a single charter or compete ownership our people at Air Market Group are here to ensure the decision you make.
We are not here to decide for you or push you to make a choice that will not best suit your needs but instead guide you through the process of picking what is going to work out best for you.
Should you have any questions or just want to get some more information feel welcome to reach out to us, we are happy to help in any way that we can.
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