A new game plan for your company might just be on demand charter friendly jets with no risk options
MOLLY HOTTINGER FOR MERCURY JETS
Our hyper-connected business world is filled with marvelous technological advances that allow us to transform how we conduct business. Short of having a clone, however, it is still necessary for executives to travel frequently to keep businesses running smoothly, remain competitive and strategically positioned to seize opportunities for corporate growth. Here are a few things to consider if you are stepping up your business game by flying private charters:
Understand your travel habits and requirements. A quick analysis of which charter option is most cost-effective option for you should start with an understanding of your travel habits. What kind of private charter flights do you require? How many hours do you expect to travel each quarter? Do your executives need to be in multiple cities during the same timeframe?
Fractional ownership. Full ownership of a private jet isn’t practical for many business owners or executives, so they instead opt to own of a quarter, an eighth, or a sixteenth share. Richard Santulli, an American entrepreneur and philanthropist, developed this timeshare concept in the 1980s. With this “timeshare” concept, owners sharing a sixteenth share in a private jet may receive 50 hours of flying time per year. This is option can require a 4-6 hour minimum booking notice and a financial commitment of 36 months.
Jet card. Pricing for jet cards varies depending on the provider and the size of aircraft you will utilize. With a jet card, you can choose between light jets, mid jets and heavy jets. Read the fine print carefully and make sure you are comparing apples to apples as different providers include some fees but not others. Jet card membership can require initiation fees, dues, and surcharges on peak days and for non-domestic travel and even taxi fees.
On Demand Charter Provider. With a literal sea of aircraft and companies representing thousands of aircraft owners, it can be a daunting task for newcomers to evaluate the cost-effectiveness of programs for their specific needs. On demand charter providers can be helpful “guides” because they know the business, the aircraft and they can leverage relationships with owners for competitive pricing. It’s also a great no risk option to get to know the different types of aircraft if you are new to flying private charters. Furthermore, this on-demand model requires no capital commitment. Cash that would be otherwise tied up on a jet card or in fractional ownership on a jet you may never get to ride can be put to work elsewhere. If there are weather or mechanical delays, Mercury Jets guarantees recovery aircraft within 12- 24 hours thanks to the private charter provider’s access to a broad pool of aircraft.